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How Is India At The Brink Of Becoming A World Leader In Solar Power?
Solar plant manufacturer in India is working hard to develop the solar power infrastructure in the country. As of 31 October 2019, India's solar installed capacity clocked 31.696 GW.
Following the structural reforms, India is at the brink to improve its economic and industrial health. The country is phasing out its fossil-based energy generation and extensively adopting green energy. Such steps on a mass scale have been instrumental in laying a path to transition towards sustainable energy.
As the energy requirement grows in the country, it's effectively aligning with the country's green energy transition initiatives.
India's Growth in the Green Energy Transition
In recent years, the country has witnessed tremendous growth in the production of solar energy. India has already surpassed the US to become the second-largest solar power market in the world (in terms of solar power installations). In the year 2015, the country had a grid-connected solar power capacity of 9 GW, which increased to 25 GW by 2019.
With the real estate and other prevalent industries adopting solar rooftops for their infrastructures, large scale solar installations in India currently accounts for 87% solar capacity. In 2018, solar alone accounted for almost 53 percent of new energy capacity additions in the country.
Emerging, as one of the most active developing countries, India, along with other southeastern Asian countries, are aggressively promoting renewable energy. The growth trajectory for solar power development is expected to rise exponentially in the coming years.
Future of Solar Power in India
In the past five years, solar installation in emerging markets has progressed leaps and bounds. Nonetheless, concerning the manufacturing of tools or equipment utilized in the industry, it's dominated by other developed countries. For India to become a world leader in solar power, it cannot just rely on large scale solar deployment by importing the required equipment/tools. There is an immediate necessity to come up with the entire value string ecosystem to achieve sustainable growth and to become aggressive in solar plant manufacturing and development.
The solar plant manufacturer in India must focus on last-mile connectivity in remote regions, where creating transmission infrastructure is a struggle. They must install small solar plants or solar community grids by using a domestically manufactured product with small power inverters or batteries in each home. Performing all this may be helpful to ensure electricity for all in countries like India.
This may also help reduce cost and the time for any developing transmission infrastructure. The solar plant manufacturers, along with the government, must also introduce financing options for people to set up rooftop solar installations. Adding a few flexible options would support and boost a quicker adoption of clean energy.
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