SOLAR ENERGY WINDOW TO THE FUTURE
India’s is a home of 1.3 billion and projected to grow to 1.5 billion by 2030. Its current infrastructure including power supply is grossly inadequate; accessibility and cost effectiveness in power sector are few limiting factors that dissuade from going forward. However, even after so many hurdles in its way, India is keen on producing clean energy. With the inception of JNNSM, there is no dearth of big targets and announcement but the major challenge is the execution and uncertain market future.
With this start, India hosted the initiative in the premises of the National Institute of Solar Energy in Gurgaon, Haryana and provided land and contributed about $30 million to build the Secretariat infrastructure needed for its operation. The alliance from both developed and developing countries aims to mobilise USD 1 trillion by 2030 for the soul purpose of generating clean solar energy. With a vision of making India a solar power nation, Prime Minister Narender Modi took an initiative and jointly launched ISA with President Hollande in Paris ahead of the Conference of Parties climate summit. It is an alliance of some 120 countries situated between the Tropics of Cancer and Capricorn. At summit, PM Modi pledge India’s assistance of $30 million for this initiative that brings together developed and developing countries.
The very purpose of this alliance is to bring together sunlight-rich countries in the tropical areas to switch to solar energy to a larger extent by promoting the demand, standarsation of the old techniques and R&D. Moreover, the alliance is all hoping that this initiative will bring down the costs of solar power generation even further, which has been the major inhibitory factor for using the solar power technology. Besides, India is planned to spend about Rs 175 crore in last five years for creating infrastructure and meet recurring expenditure. The new innovations and policies are being made to meet the demand but the price of development in reference to use of fossil fuel poses a big moral question on the commitment of the world leaders.
According to International Energy Agency (IEA), meeting India’s energy demand requires a huge commitment of capital and constant vigilance for proper implementation of the policies which can assure that new solar technology reaches up to the very ground level. Pressing ahead with the overhaul of India’s energy regulatory framework is critical to secure the estimated $2.8 trillion of investment that is needed in energy supply by year 2040. It further stated that India has been making rapid gains in bringing energy access to its people, but the world as a whole is falling short of its ambition to provide affordable, reliable, sustainable and modern energy to all.
To address the electricity reliability problem, India has implemented various measures to increase the electricity generation. Also, Prime Minister Modi has been stressing on boosting the production of solar energy by describing it as an ultimate solution to India’s energy problem as opposed to fossil fuel derived energy. India is on the advantageous position because of the availability of plenty of sunshine throughout the year and therefore can theoretically produce clean energy which meets its all demands.
As per the MNRE, India is running the largest renewable capacity expansion programme in the world. The government is aiming to increase share of clean energy through massive thrust in renewable. The revised target, which looked overambitious, now seems to be within the realms of reality with several states already witnessing silent revolution on rooftop solar power generation with the launch of net metering in the country. Besides the ongoing policies and programmes of the Government in Renewable Energy sector, several policy measures initiated recently by the Government to achieve this up-scaled target, inter-alia, include suitable amendments to the Electricity Act and Tariff Policy for strong enforcement of Renewable Purchase Obligation (RPO) and for providing Renewable Generation Obligation (RGO); setting up of exclusive solar parks; development of power transmission network through Green Energy Corridor project; identification of large government complexes, buildings for rooftop projects; provision of roof top solar and 10 percent renewable energy as mandatory under Mission Statement and Guidelines for development of smart cities; amendments in building bye-laws for mandatory provision of roof top solar for new construction or higher FAR; infrastructure status for solar projects; raising tax free solar bonds; providing long tenor loans; making roof top solar a part of housing loan by banks, NHB; incorporating measures in Integrated Power Development Scheme (IPDS) for encouraging distribution companies and making net metering compulsory and raising funds from bilateral and international donors as also the Green Climate Fund to achieve the target.
India’s is a home of 1.3 billion and projected to grow to 1.5 billion by 2030. Its current infrastructure including power supply is grossly inadequate; accessibility and cost effectiveness in power sector are few limiting factors that dissuade from going forward. However, even after so many hurdles in its way, India is keen on producing clean energy. With the inception of JNNSM, there is no dearth of big targets and announcement but the major challenge is the execution and uncertain market future. However, the Modi Government is focused to deal with these challenges, give confidence to the market with the much needed foreign investment and pro- business policy to the boast this solar power sector. With all the positive sentiments from the market players and government initiatives, the prospect for the Indian solar sector seems better.