Gujarat Solar Benchmarks
The numbers, dated and sourced
Capex, module prices, O&M, tariffs, open-access charges, financing rates and more — the reference figures we use, with their source and date. When the internet disagrees, start here.
Published solar numbers often disagree, because most are written by sellers. Below are the key benchmarks for Gujarat — dated, sourced and refreshed each quarter. Where sources differ, we give a range rather than a single point.
Capex — utility-scale ground-mount
as of 2026| GERC normative cost (<5 MW) | ₹3.05 crore/MWGERC Order 06/2024 |
| Market range (fixed-tilt → tracker) | ₹3.0–4.5 crore/MWMercom / Renewable Watch |
| DCR-module premium | +₹0.8–1.0 crore/MWMercom Q4-2025 |
Module prices (₹/Wp)
as of Apr 2026| Non-DCR mono PERC | ₹13.8/WpJMK Research index |
| Non-DCR TOPCon | ₹14.2/WpJMK Research index |
| DCR TOPCon | ₹22.3/Wp (volatile around ALMM-II)JMK Research index |
O&M cost per MW per year
as of 2025–26| GERC regulatory norm | ₹3 lakh/MW @ 3.84%/yr escalationGERC Order 06/2024 |
| Competitive market | ₹2.5–4 lakh/MWIndian Infrastructure / Renewable Watch |
| EPC retail (full-wrap) quote | ₹5–8 lakh/MW (inflated)market quotes |
Tariffs & open-access charges (Gujarat, FY26)
as of FY 2025-26| DREBP fixed PPA tariff | ₹2.76/unit (₹2.48 net of AD)GERC Order 06/2024 |
| Recent GUVNL auction | ₹2.34/unit (Mar 2026)GUVNL / Saur Energy |
| Cross-subsidy surcharge (C&I OA) | ₹1.33/kWhGERC FY26 |
| Additional surcharge | ₹1.00 → ₹0.76/kWh (Apr–Sep 26)GERC Order 04/2025 |
| Banking charge | ₹1.50/unit (to 30-Jun-2026)GERC GEOA 2024 |
| Captive consumption | Exempt from CSS + additional surchargeElectricity Act / GERC |
Financing (India)
as of FY 2025-26| IREDA solar rates | 8.65–9.65% p.a. (Grade I–V)IREDA Financing Norms |
| Debt : equity | 70:30 (up to 75:25 if DSCR ≥1.25)CERC / IREDA |
| DSCR expectation | min ~1.2, avg 1.25–1.35IREDA / market |
Land, CUF & degradation
as of 2025–26| Private land lease (Gujarat) | ₹25,000–50,000/acre/yrmarket |
| Government wasteland | ₹15,000/ha/yr, +15% every 3 yrsGR 25-Jan-2019 |
| CUF (Gujarat) | GERC norm 19%; fixed-tilt 19–21%, tracker 23–24%GERC / Adani Green |
| Module degradation | Warranty 0.4%/yr; India real-world 0.7–0.8%/yrPVEL / NREL |
Sources: GERC/GUVNL orders, IREDA Financing Norms, JMK Research price index, Mercom, CERC, CEEW, NREL/PVEL. Figures are indicative and change with policy and the market. Nothing here is financial advice.