Financial Feasibility of Solar Irrigation System in Sri Ganganagar District of Rajasthan

Abstract

Agriculture is primary sector of the Indian economy. And it remains major challenge to achieve overall water, energy and food security in India. Solar energy is the most abundant source of energy in the world. Solar power is not only an answer to today’s energy crisis but also an environmentally friendly form of energy. The present study was undertaken for financial feasibility of solar irrigation system in Rajasthan. Sri Ganganagar district of Rajasthan was selected purposively because it secures second rank in terms of installation of solar irrigation system. The 80 sample farmer comprises of 40 solar irrigation systems and 40 diesel irrigation systems were randomly selected from the Sri Ganganagar district. The study was conducted with the objective to study the status of solar irrigation system in Rajasthan. Financial feasibility of solar irrigation system with and without subsidy and suggest the policy implementation for adoption of solar irrigation system. The collective data shows that the installation number of solar irrigation system in Rajasthan in 2020-21 is 33064. In financial feasibility we are calculated the Payback Period and B:C Ratio with and without subsidy. The Payback Period is 1.30, 1.80, 2.58 with subsidy and 3.26, 4.51, and 6.46 without subsidy for 3, 5, and 7.5 HP solar irrigation system. The B:C Ratio is 7.06, 5.49, and 4.09 with subsidy and 3.35, 2.51, or 1.80 without subsidy for 3, 5, and 7.5 HP solar irrigation system.