Solar Energy – India’s FASTEST GROWING SECTOR

One of the fast growing sectors in India is the Solar Energy sector. By February 2018, the total installed capacity in India, for the generation of solar energy reached almost 20GW – this is almost EIGHT times the capacity of 2,650 MW in May 2014!

And do you know, that India had set this target of 20GW for the year 2022, but we as a country, have achieved it almost 4 year before the target date!?! This was possible because of the addition of solar capacity of 3GW in 2015 – 16, and about 5GW in 2016 – 17, and more than 10GW in the year 2016 – 17. This is not a simple achievement – it clearly indicates where our country is poised to reach on the global scale, in terms of leveraging solar power, and contributing towards building of a green environment. This achievement has also resulted in the decrease of the average cost of solar electricity to almost 185 below the average cost of the price electricity generated through coal.

Three years back, in the year 2015, our government announced a target of 100GW of solar capacity by the year 2022, which includes almost 40GW of target through rooftop solar energy. It is surely a very ambitious target, considering the fact that the target of solar capacity for the entire world in the year 2017 was only 303GW – our target is almost 1/3 of that of the entire world!

How do you think we are going to achieve this humungous task? Simply said, it is due to the rapid improvements India has made in the technology related to the solar thermal storage power. The government has already put in place large-scale grid-connected solar PV measures. In addition, off-grid solar power is being developed to cater to the energy demands of the local areas.

Many solar-based products have helped to cater to the energy requirements in the rural areas: 3 years back itself, almost 10 lakhs solar lanterns were sold in India, and that’s the extent to which usage of kerosene has been reduced! We had installed almost 1,18,700 solar home lighting systems, and as many as 46, 655 solar street lighting systems were installed as part of the government initiative itself, in addition to the distribution of almost 14 lakh solar cookers across the country.

The International Solar Allliance (ISA) has been set up in in 2016 in Gwal Pahari, Gurgaon in collaboration with the French government, for the promotion and development of solar energy and solar products to cater to the needs of countries lying completely or partly between the Tropic of Cancer and the Tropic of Capricorn. At the recent Paris COP21 Climate Summit, an alliance of more than 120 countries was announced, to support further initiatives in the field of solar energy.

Our government has also announced the scheme “Scheme for Development of Solar Parks,” top attract foreign capital to fund the construction of the world’s largest ultra-mega solar parks, which is considered to be a milestone initiative in lending more momentum to the solar energy sector.

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