The economic growth of the world nations is driven by their energy, either in the form of non-renewable resources such as coal, oil, and gas or in renewable forms such as hydro power, the wind, solar and biomass. The energy generation and consumption of a nation decide the economic growth. There is a necessity to accelerate the development of clean energy in order to face the global challenges like energy scarcity, global warming and sustainable development. Power generation from fossil fuels like coal, firewood, oil and gas has created a significant impact on the quality of air, land, water and forest resources. So, the resources should be efficient and also environmentally safe such that it should not disturb the ecosystem of a country.
India, a second highest populated country in which hundred millions of people are in shortage of electricity and also the pace of demand for electricity is far outpacing the India’s power generation. According to the report on April-2017, the power generation is based on fossil fuels about 67.1% and remaining from renewable energy resources. A major part of the power is produced from fossil fuels which lead to the emission of greenhouse gasses and also rupee depreciation. To prevent this, the Indian government has taken steps to find the efficient way to produce electricity using renewable and clean energy resources.
Favorable geographical condition:
India is a tropical country and it receives solar radiation almost throughout the year, which amounts to 3,000 hours of sunshine. About 5,000 trillion kWh per year energy is incident over India’s land area. Almost all parts of India receive 4-7 kWh of solar radiation per sq. meters. This is equivalent to 2,300–3,200 sunshine hours per year. States like Andhra Pradesh, Bihar, Gujarat, Haryana, Madhya Pradesh, Maharashtra, Orissa, Punjab, Rajasthan, and West Bengal have great potential for harvesting solar energy due to their geographical location. India being in a tropical location, it has a great capability to harnessing solar power.
Solar Industry’s accomplishments in India:
India was the first country in the world to set up a Ministry of non-conventional energy resources in early 1980. Government has introduced some key initiatives such as Indian Solar Loan Programme in 2003 and Jawaharlal Nehru National Solar Mission (JNNSM) initiated in 2010 that gave the major thrust to Solar Power generation. “Power for all” is a joint initiative of Government of India and State Governments with the aim to provide unlimited power supply to all households, Industries, Commercial buildings, and other electricity needs. Re-Invest 2015, the first Renewable Energy Global Investors Meet and Expo was held in New Delhi. This event was a significant step to invest over USD $200 billion in the renewable energy sector. Almost 70 percent of that investment is dedicated to solar energy. With help of these plans, Solar Power Generation has shown the remarkable progress in the energy sector and it also comparatively more than its own other renewable energy resources.
Indian solar market is set to become the Third biggest solar market in the world in 2017 with the addition of 8.8 gigawatts solar project. The report submitted by BTI, a consulting firm in India’s Clean technology market, proposed that the Country’s solar projects is expected to reach 18.7GW by the end of 2017, which is about 5% of global solar capacity and also the government of India has revised its solar power target to 100 GW from 20 GW by 2020. Finance Minister Arun Jaitley have announced plans in budget 2017-18 to promote clean energy to accomplish our energy demand. Jaitley also cut import duty on LNG from 5% to 2.5% and on the solar tempered glass that goes into the manufacturing of solar cells, panels and modules from 5% to zero. So, our government shows their support by providing incentives to installers and manufacturers in turn which reduces the cost involved. The fact is that the investment in solar energy will be a profitable and an eco-friendly option for our country’s energy demand.