Why Solar Energy Projects Hold The Key To Development In India?

At a time when world is striving to fight greenhouse gases and other harmful elements, solar energy emerges out as a great way towards a sustainable future. It is carbon free and readily available and most importantly affordable. Do you know it is such an energy source that provides the living beings with more energy in one hour than is consumed on the earth in an entire year.

The International Energy Outlook 2006 (EIA, 2006) studied World marketed energy consumption on total produces on an average by 2.0% per year from 421 quadrillion Btu in 2003 to 563 quadrillion Btu in 2015 and 722 quadrillion Btu in 2030 and India becomes the fifth leading energy consumer as per British petroleum. Fortunately, India is a heaven in terms of solar energy all-round the year and there are large numbers of Solar Panel Manufacturers In India.

In general,regions of the India receive solar radiation in the range of 5’7 kWh/m2 on average, and deliver more than 275 sunny days in twelve months. Therefore, solar energy as drying standard has a inordinate potential of distribution throughout the nation, and provides a feasible opportunity in the domestic segment. It is determined as a perfect technology for Indian agricultural chronicles and owns various benefits such as improved durability, high dietetic value of food, reduced recurring expenses and possibility to lessen drudgery, etc.

Today, there are various Solar Energy Projects being in operations all across the country. There are both privately-operated and government-supported projects setup all over the country that have been redefining the field of power generation to large extent.

In regard to the production of renewable energy, presently India is ranked fifth in the world with 15,691.4 MW grid-connected and 367.9 MW off-grid renewable energy based power capacity. India is among top 5 regions worldwide for solar energy development as per Ernst & Young’s renewable energy attractiveness index.

A country-wide mission was set up with the name – National Solar Mission. Its objectives are:

• Make India a global leader in solar energy and the mission envisages an installed solar generation capacity of 20,000 MW by 2022, 1,00,000 MW by 2030 and of 2,00,000 MW by 2050.
  

• The total expected investment required for the 30-year period will run is from Rs. 85,000 crore to Rs. 105,000 crore.
  

• Between 2017 and 2020, the target is to achieve tariff parity with conventional grid power and achieve an installed capacity of 20 gigawatts (Gw) by 2020.
  

• 4-5GW of installed solar manufacturing capacity by 2017.