European Journal of Molecular & Clinical Medicine

Abstract

Non Renewable energy sources cannot be replenished and in turn causing global warming, and environmental pollution.80% of global energy and 66%of electrical generation are pitching in 60% of Green house gas emissions and blame worthy for climate change.Renewable energygenerally referredto as clean and green energy.Some of them are solar energy, wind energy, geothermal energy, and hydroelectric power.According to the United Nations environment programme(UNEP), the promotion of renewable energy reduces the emissions of carbon dioxide. Apart from preserving the environment, energy security and independence, rural employment can be achieved.The present study is an effort to study cost benefit analysis so that the production of PV panels can take place at domestic level and MSME’s. The study also extends the details about the benefits and importance to the consumers. Solar energy transforms sunlight  into electricity via photovoltaic (PV) panels or through mirrors that concentrate solar radiation. The total solar energy received on earth is more than current energy requirements.  Solar photovoltaic panels which are used in conversion of sunlight into electricity have been receiving lot of attention. The main disadvantage with PV Panels is, it depends on climate and cannot be stored for further usage. To overcome these drawbacks, batteries and grid, are used to store the power and for further usage.The market for PV Panels is not dynamic and with less demand in India, Even though India is a tropical country. The government intervention through subsidies has created some demand, but it is not recommended and cannot be extended by the government. To promote PV panels the installation charges have been reduced by the manufacturers and the result was not as expected.There is a need to make it commercially viable. The present study is a trial to study the market for PV panels for domestic consumptions and commercial purposes. The limitation of the study is it concentrates to study the market for PV panels through more production at domestic level. Only few technological aspects of the PV systems are included in the study. The study has not discussed about the elements in detail.