Do you know that India is placed in the third position in terms of electricity production capacity in the world?
Yet many of the India homes still remain without electricity. Why?
It is because of the fact that we are also the third-largest consumer of electricity.
Hence, to ensure uninterrupted energy supply in a developing country like India, we must look for every available resource. And what better source than the sun itself which offers an unlimited amount of clean-green energy.
In 2015, ahead of the schedule, India achieved the target of 20 GW of solar capacity which was set for the year 2020. And, in a decade ending on 31 March 2020, India expanded its installed solar power capacity by 233 times from 161 MW to 37,627 MW.
So, what really makes the solar energy sector a compelling case in India?
Well, these reasons can be attributed to the rise of the sector;
India’s Geographical Location
Thanks to the sunshine that the country receives thought the year, we can harness a great amount of energy from the sun. India being a tropical, sub-tropical country, receives a whopping 5000 trillion kWh per year and holds great potential to capture substantial solar energy.
Role of the Government
The specialised bodies formed by the Government of India like the Ministry of New and Renewable Energy (MNRE) and subsequently the Solar Energy Corporation of India (SECI) have played a pivotal role in helping India become one of the fastest adopters of solar energy. The journey of the country to become the 5th largest solar installer in the world has been made possible by the setting aggressive targets and implementation of policies through streamlined efforts.
Incentives and Policies
The subsidies and incentives provided by the Government and Jawaharlal Nehru National Solar Mission (JNNSM) since 2010, have been instrumental in the adoption of solar energy. The top segments that have seen rapid growth are the utility-scale, open access solar farms and solar rooftop power systems
Low Cost of Labour
India has the lowest cost of labour allowing solar industry to employ a large number of people resulting in speedy project completion at the lowest cost. For example, the cost of labour in the Middle East is 5 times higher than that in India. The solar industry has utilised the availability of affordable labour to not only offer the lowest cost of power to consumers but also creating ample jobs in the process
Developing Solar Technology
All-around the world, numerous researches in the solar industry have been carried out. Every day, we are developing a much better technology to generate energy from the sun with the most effective method. We have also been able to increase the efficiency of the solar cells to almost 25% which is a landmark in itself.
Although solar energy is booming in India, it is still at its infancy. We can see it unleashing its full potential and disrupting the energy industry in the coming years.
Do give our blog a read for all your solar-related questions. You can also check out other interesting updates on solar on our Facebook page (facebook.com/zunroof)
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