To meet India’s ambitious target of installing 500GW by 2030, solar alone needs to put in 100GW.The good news is that growth in solar power production has doubled since 2021. India is the 3rd largest producer of solar power in the world.
Due to location and climate, India is one of the leading countries in adopting solar power. Among all the energy sources, fossil fuel, water, sunlight, wind, and nuclear, solar is one of the most used resources. Its abundance and lower cost of production contribute to its popularity. Maharashtra ranks among the top 5 states among Gujarat, Rajasthan, Tamil Nadu, and Karnataka.
But how has the rapid, impressive change in India taken place? (As on July 2024)
Government Policies
India has implemented various schemes to encourage solar power generation, including subsidies and incentives for investment and production. These policies have attracted both domestic and international investment. For example, the Production-Linked Incentive (PLI) scheme aims to increase domestic manufacturing of solar equipment.
Notification of standards for deployment of solar photovoltaic system/devices, Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,
Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30. They have also introduced 5L solar agriculture pumps, 10K solar pumps, rooftop+ground mounted=260MW
Technological advancements
The cost of solar components has decreased, making solar projects more financially viable. Indian startups are also developing innovative solutions, such as solar tiles, transparent solar glass, and AI-driven panel cleaning drones. The Indian Institute of Technology (IIT) Madras has also created low-cost, high-efficiency solar cells.
Innovation
India is also a leader in the International Solar Alliance (ISA) initiative, which promotes global cooperation in solar R&D and financing.
A drastic reduction in Chinese imports due to duties hampers the hectic pace at which India is building its solar energy projects. However, Analysts at the Institute for Energy Economics and Financial Analysis (Ieefa) say India’s rise as a manufacturer of solar PV could one day make a dent in China’s dominance.
Concluding, India’s journey in solar power generation has been remarkable. The country climbed from the ninth position in 2015 to the third in 2023.
With robust policy support, continued innovation, and a collective will, India is well on its way to becoming a global solar powerhouse.
Source:
Times of India
The Hindu
wikipedia
Google
MNRE, JMK Research