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How India Can Become A World Leader In Solar Energy
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There is an abundance of free solar energy in India. Using the country’s deserts and farm land and taking advantage of 300 to 330 sunny days a year, India’s solar power generation can easily generate approx 5,000 trillion kilowatt-hours of solar energy.
In other words, by implementing the right policies as part of its renewable energy development efforts – India can not only meet all its energy requirements through renewable sources by 2050, but also become a world leader in solar energy.
Here’s a close look at some steps that India can initiate to take its rightful place among the front row of leading solar energy producers.
Enact and deploy a comprehensive new energy roadmap or innovative RE policies (e.g., PPAs, Net Metering, FIT, etc.).
Set up a National Renewable Energy Standards/Policy such as 20% by 2020, 40% by 2030 and 100% by 2050 — to boost demand, encourage new industries and innovation.
Invite global majors to meet the new JSNM targets of 100 GW (solar) and 75 MW (wind) by 2022 and beyond.
Hasten the switch to electric transport by deploying solar-powered EV charging stations around the country to encourage the use of electric vehicles (EV) and plug-in hybrids.
Improve public transportation by launching zero-emission, battery-powered electric buses across all major Indian cities to help reduce air pollution and the ill-effects of climate change.
Make energy efficiency a high priority by encouraging the implementation of cost-effective and effective energy efficiency standards.
Phase out conventional energy subsidies, and initiate a long term plan to replace the use of fossil fuels and nuclear energy with utility-scale renewable generation.
Provide innovative financing (tax-free Solar Bonds or Green Infrastructure Bonds), accelerated depreciation mechanism, and access to easier credit on competitive terms, to boost confidence among potential investors and reduce the cost of financing for RE projects.
Create and fund a national smart infrastructure bank for renewable energy projects.
Plan and develop large-scale solar manufacturing hubs in India to facilitate the mass production of PV, CSP and CPV equipment.
Avoid future investments in fossil fuel-based projects and, instead, emphasize nationwide deployment of community scale solar energy projects and micro-grids with storage.
Build energy storage facilities for thermal, grid battery storage, vehicles-to-grid/home, pumped hydro, fuel cells or hydrogen produced from renewable energy, flywheels, superconducting magnets and super capacitors.
To achieve its ambitions of becoming a world leader in solar power generation, India clearly needs to fundamentally transform the manner in which it generates, distributes and uses energy.
By doing so, India can reduce its dependence on fossil fuels, create millions of new jobs, and further improve its global competitiveness while simultaneously reducing carbon emissions and slowing climate change.
In keeping with its goal to reach 5000 MW capacity, Welspun Renewables has a slew of projects across high solar irradiation and wind velocity sites, spanning key states like Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Karnataka, Punjab, Tamil Nadu and Andhra Pradesh.
By pursuing the rightrenewable energy development policy, India can not only meet its own energy needs but set a new example for the rest of the world to follow.
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