What is the Future Scope of Solar Energy in India

What is the Future Scope of Solar Energy in India

The future scope of solar energy in India has a very large range in the field of solar energy. With an average of 300 clean and sunny days a year, the amount of energy we receive from the sun is enormous.

This has many uses in our daily lives and can be very useful not only for us as individuals, but for the whole country and our planet.

It can be very useful for a country like ours if used properly. Some of the many benefits of switching to solar energy are listed below and we hope they will convince you to change if you haven’t done so yet.

India is blessed with the sun, and the country gets 300 days of sunshine. That is equivalent to 3,000 hours of sunshine or more than 5,000 trillion Kwh.

1. India has a broad scope of solar energy

India’s geographical location is its advantage for solar energy production. India, with more than 1billion inhabitants, is facing an enormous energy demand and therefore solar energy is a growing industry in India.

India is a fast-growing economy and ranks fifth in the world in terms of power generation and consumption.

2. Energy production has increased over the years

But we cannot deny that the country’s population is also growing. India’s solar industry has seen impressive growth scope in recent years, mainly due to the sharp decline in investment demand for MW and potentially profitable financing.

In recent tenders, unit costs have fallen below Rs 2.50 (significantly lower than the cost of a new coal-fired power plant). Govt is committed to adding nearly 100 GW of solar energy over the next 5 years.

3. The clean and environmentally friendly energy source

scope of solar energy business in india

Solar energy can be considered one of the cleanest energy sources available today. It causes almost no pollution because it does not release harmful gases into the atmosphere and is therefore considered a very clean energy source.

It is also available almost everywhere and almost the same throughout the country. India is one of the most polluted countries, so this elixir should be our priority.

4. Multi-functionality

It works everywhere. Its main advantage is that it can be installed in any device powered by electricity. It provides hot water, can operate refrigerators, televisions and other appliances. Solar energy can be used not only in the house but also outside the house, such as street lamps, solar boats, vehicles and much more.

5. inexpensive

The transition to solar energy could be one of the most intelligent financial decisions in the world. As we can see, the prices of fuels and fossil fuels are rising, which can be an excellent alternative.

The main costs are the installation costs, and then it usually pays for itself. At first, it may seem a little expensive, but over time it can be restored and becomes a profit.

6. Sources of Solar Energy

Unlike fossil fuels, solar energy is abundant. It is an almost untenable source of energy. As we know, other energy sources scope, such as fossil fuels, will hardly be accessible, which has led to higher prices. If you switch to solar energy, the dependency will be the sun.

7. Reliability

It’s absolutely reliable. India guarantees many sunny days and the system is very efficient. There is almost no traffic, so consumption is not a problem. It is made of a material that can withstand the harsh weather conditions as it is designed for outdoor use.

Thanks to the weather conditions in India, you have a guarantee of at least 12 hours of uninterrupted work.

8. Maintenance-free

With a tight schedule for everyone, additional responsibility is not what people want. Solar cells are maintenance-free and low-maintenance.

They are also not associated with fixed costs. In addition, there is not much wear and tear, so parts do not have to be replaced. The entire solar system is guaranteed for 25 years.

9. Retains the currency exchange

Around 80% of India’s import costs come from imports of fossil fuels from other countries, which can be reduced through increased use of solar energy.

This contributes not only to the reduction of import costs but also to the export of solar systems to other countries. The money saved in this way can then be passed on to departments such as education.

11.Tax Relief

Government agencies, utilities, and others offer many tax breaks, exemptions and other incentives to promote energy efficiency. They promote the use of clean energy and support efforts to conserve energy and reduce pollution.

But things are not very pink.

scope of solar energy in roof top

The roof systems connected to the grid have not increased the planned capacity. People still believe that the investments are high, there is no certainty about the implementation of the incentives offered by Govt, there is no certainty about how to get money for the surplus production fed into the grid.

Panels/modules, almost 85%, are imported from China / Taiwan etc.. The local manufacturers are therefore in bad shape and there are not enough jobs.

The profitable industries neither invest in solar energy for their own use nor commit themselves to buy solar energy from traders.

Very aggressive/unfavorable bids in recent construction tenders, poor financial situation, banks differ from previous loans for such projects.

No government can afford to ignore solar energy, and I am sure the government will find a way to accelerate projects in this sector. More importantly, Govt needs to find practical solutions to these problems so that roof projects, small industrial/commercial projects and large public utility projects can be profitable and sustainable.

While this can take care of the installation and operation, how can we ensure that the domestic industry gets an adequate market share?

The solution is not easy Chinese/Taiwanese companies are working on mass volumes/ economies of scale and good financial systems supported by Govt. This requires a separate, targeted approach.

The unfortunate thing in our country is that we seem to always lag behind the development of technology, economies of scale and the ecosystem of politics to ensure world-class productivity.

The world is moving towards renewable energies, dominated by renewable energies, electric and autonomous cars, etc., in ecologically sustainable economies where solar energy will be crucial.

I sincerely hope that our country Inda has a wonderful scope of solar energy will take the lead not only in the use but also in the development of technology.