Solar Power – Industry Study (September 2018)
India’s energy sector is one of the most critical components of infrastructure that affects the economic
growth and therefore is also one of the largest industries in India. Globalization has positively
influenced almost every sector in the country including the power sector. India being one of the fastest growing economies of the world is spurring a rapid increase in energy consumption. Electricity demand of India is expected to double over the coming decade with the key question still hovering after 70 years of Independence is whether India can manage rapid expansion of its economy with the current state of electricity in the country? Demand supply imbalance, transmission & distribution losses, low plant load factor etc have been key areas and needs to be aptly addressed to devise a sustainable model to strike the balance between economics & environment.
The trends indicate that primarily the power sector was entirely dependent on fossil fuels for power generation posing a consequential damage to the nature. However, this seems to have been realised by the country evidenced by a steady replacement of traditional sources of electricity by renewable resources.
Given the higher dependency on non-renewable resources, the steps for steady, rapid transformation shall be instrumental for achieving the desired sustainable model for the Electricity Sector of India. India has seen an evolution in energy usage with a shift from non-renewable to renewable energy sources. However, a lot remains yet to be achieved.
Indian leaders from the top down have embraced the need to transform the country’s energy industry, by setting ambitious goals to make India a world leader in the adoption and deployment of low emissions energy efficiency and renewable energy infrastructure by concentrating on wind and solar energy. To say that, ‘clean energy transition is vital’ is an understatement. India can meet its growing electricity needs by introducing competitive renewable energy-based solutions while keeping its use of fossil fuels in check and unleash the potential of solar energy in the country.
Solar energy is one of the most abundant and cleanest form of renewable energy resource on the Earth. India is endowed with abundant solar energy, which can produce about 5000 trillion KW of clean energy. If this energy is harnessed efficiently, it can easily reduce our energy deficit scenario and that too with no carbon emission. Many States in India have already recognized and………………