How India can become a world leader in solar power
India is on its way to improve its industrial and economic health through structural reforms. The country has decided to phase out fossil-based energy generation and adopt green energy. This has been instrumental in laying a path to transition towards sustainable energy. The growing need of energy perfectly aligns with the country’s green energy transition initiatives, to satisfy future energy demands while reducing carbon footprints and burden on the country’s foreign currency reserves.
India’s per capita energy consumption currently stands close to one-third of the world average. India is running renewable energy initiatives in a big way and has emerged as the second most attractive market for renewable energy equipment in the world. With the headquarters of International Solar Alliance, India is all set to become a global leader in solar energy.
Solar and wind were once considered costly source of power, but are now much cheaper than the conventional form of energy. India has already achieved 23 GW of solar installations with another 40 GW of solar power being at different stages of bidding and installation. The transition of the energy landscape in India is inevitable with the share of renewable energy going up rapidly. India set ambitious targets for itself to achieve 100 GW of solar power by 2022 and is set to prove that with honest efforts and true intent, no target is difficult to achieve.