Generating planes with fake shadows projected onto the ground

I came up with this fake shadow plane projection under my rectangles in this scene and I am wondering if this even increases the performance compared to the shadow caster?
Maybe there is a better way to fake something like this?

It’s a simple plane with a png applied and it rotates and moves together with the rectangles. If the rectangles are too high up into the air, it’s opacity goes down.

Yes, it’s probably faster than real shadows, as shadows need an additional render target generation as well as some specific code in the material shaders to render shadows.

See also:

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