FWD Business scrutinizes the current solar energy scenario. Read more to find out if turning solar is the right thing
Words: Vandana Devi Images: Various Sources
Out of India’s total installed power capacity, Renewable Energy Sources contribute 15.6% to the total. In order to achieve the desired economic growth rate of 9%, India’s energy supply needs to increase at a rate of 6.5% a year and it is the need of the hour to make sure that this energy requirement is supplied by alternative sources like Solar energy. Installation for Solar Power in the country has almost tripled since 2015 and it has added more than 10 GW of solar capacity (which is equal to lighting up 70 Lakh homes) in the last three years.
And in the recent report published by Ernst & Young, India is placed second after China in the ‘Renewable Energy attractiveness index 2017’ courtesy of strong Government support and its plans to build 175 gigawatts of renewable energy generation by 2022. “With the advent of new technology in storage, we are poised for huge growth. Solar growth will support landowners to derive income and solar industry to build their business.” – PiyushGoyal Minster for Power .
A look at what Kerala has been doing
Kerala has been making leaps in the field of Solar energy and going green. Kochi International Airport, in a revolutionary step, decided to run their airport completely on solar power. Costing nearly $9.5m, it took around 6 months for completion and started functioning from August 2015. Also, Kerala is moving towards becoming a completely electrified state and Power Minister MM Mani has mentioned it would be so by the end of May 2017. The government hence will be initiating steps promote Solar energy projects as well. Kayamkulam has the largest floating Solar energy plant in the country and has an installed capacity of 100 kWp and it has been commissioned in March 2017. And even Universities in the state want to do their part and SreeSankaracharya Sanskrit University, Kalady is setting an example by installing Solar Plant that takes care of the university’s power requirements.
In other parts of the country as well, Solar energy is shining
Almost 150,00 houses can now be lit up courtesy of the largest Solar power plant (at a single location) in the world. This facility in Kamuthi, Tamil Nadu has a capacity of 648 MV. And inspired by the German football stadiums, Bengaluru’s Chinnaswamy Stadium is the world’s first solar powered Cricket stadium with an installed capacity of 400 kW that will not only help bring down the stadium’s electricity bills but will also generate revenue for Karnataka State Cricket Association. This model is on its way to being adopted into the major cricket stadiums in the country.
The need to make Hay while the Sun shines
India is growing and sending satellites for other countries into space and what not. But the fact remains that 300 million people in India still have no access to power, and Solar power may be able to light up their lives. And pollution rates in the country are rising at an alarming rate, not to mention the situation in Delhi. We need to shift to alternatives and for a country that is blessed with almost 300 days of sunshine, Solar is one of the best alternatives. Also, new solar energy plans mean more jobs in the market, in both the blue and white collar segments.
The bumps on the road
A report by PHD Chamber of Commerce and Industry and credit rating agency CARE Ratings released at the National Solar Summit 2017 claims that it is unlikely for India to achieve its target of 40 GW power capacity through rooftop solar panels by 2022 as the pace of project is really slow. The quality of power is important as well, and India being the cost conscious country it is, people may be willing to buy cheap and bad quality equipment which may inadvertently affect the quality. Also, India’s climate makes dust, grime and the like very common and this affects the Solar panels adversely. And finally, with the decreasing prices for solar energy, it is becoming less lucrative for investors and this may be harmful because it is essential for more investment to go into the same.
To combat these problems
In order to speed up and achieve the Rooftop solar panel target, specific policies and initiatives to support the same needs to be introduced including offering incentives to attract investors.There is also the need to put standards in place on the equipment to be used so that the quality of power remains constant. And methods to consistently repair and maintain these panels must be thought out and put into work. Finally, we need to strike the right balance to ensure that both parties are equally benefitted and the subsidies are properly allocated.
In conclusion, while European countries are cutting off subsidies on Solar energy, Asian countries like India and China are doubling efforts to promote the same in their countries by providing heavy subsidies. This is definitely providing the much-needed boost to the industry. But is it enough? Will these policies of the government actually translate into achieving targets, real power generation and real change in the country? Solar energy is a possible way forward for India, and the government is taking steps for the same but will it actualise?