Empirical Analysis of Economic Viability and Cost of Installation of 3 HP Solar Irrigation Pump in Jaipur, Rajasthan

Abstract

With the increase in population, urbanisation and development in India, the demand for energy has increased in recent years. Today, India relies heavily on fossil fuels to meet its energy requirements. Hence, this study analyses the economic viability of 3 HP solar irrigation pump for farmers of Jaipur, Rajasthan. Since, solar irrigation pump is now being preferred over diesel irrigation pumps in the study area. Rajasthan was selected purposively because it receives the highest annual global radiation. Jaipur was selected because the number solar irrigation pumps were maximum. Payback period, net present worth, benefit cost ratio and internal rate of return was used to analyze the economic viability. From the results it was clear that the adoption of solar irrigation pumps was economically feasible in the study area.