Adapting Floating Solar Power Projects: A Study of Sustainability and Economic Viability in Tamil Nadu, India

V. Vardhini () and Kabirdoss Devi ()
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V. Vardhini: Vels Institute of Science, Technology and Advanced Studies, (VISTAS), Assistant Professor, School of Management Studies
Kabirdoss Devi: Vels Institute of Science, Technology and Advanced Studies, (VISTAS), Associate Professor, School of Management Studies

A chapter in Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-ups and Sustainability (ICRBSS 2023), 2024, pp 920-931 from Springer

Abstract: Abstract The pursuit of sustainable energy sources has become imperative in mitigating climate change and addressing India's growing energy demand. Floating solar power projects offer a promising solution, particularly in regions with limited land resources, such as Tamil Nadu. This study investigates the sustainability and economic viability of floating solar power projects in Tamil Nadu, India, and to propose policy and investment decisions. The research employs a multidisciplinary approach, combining environmental and economic perspectives to evaluate the feasibility of floating solar projects in the state. It begins by examining the environmental impact, focusing on factors like water quality, aquatic ecosystems, and carbon emissions. Results indicate that floating solar arrays have a minimal environmental footprint and can even have positive effects on water quality and biodiversity. Economic viability is a central concern in the context of renewable energy projects. The study analyses the initial capital costs, operational and maintenance expenses, and energy generation potential of floating solar systems. The study concludes that floating solar power projects represent a sustainable and economically viable solution for Tamil Nadu. Their low environmental impact, combined with the potential for long-term financial returns, underscores their promise in addressing the state's energy needs while contributing to environmental preservation. This research offers insights and recommendations for policymakers, investors, and local communities interested in harnessing the benefits of floating solar power in Tamil Nadu. By embracing this renewable energy technology, the state can contribute to the broader sustainability and economic development goals of India, ultimately reducing its carbon footprint and bolstering energy security.

Keywords: Sustainable energy; Floating solar power plant; Economic viability (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-374-0_80

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