Solar is one of the cleanest source of Power as it does not involve any combustion or chemical reaction. With its abundant sunlight, increasing enery requirement and a commitment to enhance the share of renewable energy, India has emerged as a Global Leader in adoption of Solar Power.
India gets one of the highest solar radiation throughout the year due to its geographical location which makes generation of solar power most viable and hence India, in recent years supported by Government’s ambitious initiative has made substantial progress in this sector.
Due to environmental benefits, Solar Power is becoming the most formidable alternative to fossil fuels. This will reduce India’s dependence on foreign energy sources thereby ensuring energy security and independence as well as contribute to India’s commitment to Paris Agreement and its goal of reducing carbon emission.
Key challenges are Land availability, grid integration and storage capacity, which can be overcome by concerted efforts by Government, Private Sector and International Collaboration. Present Installed power generation capacity in India is 416 GW, out of which fossil fuels constitute 58% and renewable 42%. Present installed capacity of solar is 67 GW (16%) and India has taken an ambitious target of increasing this to 450 GW, almost by seven times by 2030. This provides a great opportunity for all the participants in the entire solar power value chain.
-Mahendra Agrawal
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