Are The Indian Solar Companies Ready To Take Solar Energy To The Next Level?

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India is working very hard to produce over 100 GW of solar energy by 2022. At first glance, such a massive effort may appear to be impossible. However, the country’s long-term energy goals may not be too difficult to meet. By 2030, India hopefully plans to have 450 GW  or more of renewable energy, with solar making up of about 280 GW. Solar power has a considerable potential in the country due to its geographical location and terrain. This gives the country a competitive edge over its competitors.

The Bhadla solar park in Rajasthan, India, is the world’s largest producer of solar power plants, with a capacity of 2,245 MW. In India, crystalline silicon panels account for 90% of solar photovoltaic (PV) panel installations, with a maximum efficiency of around 22%. Other approaches are being investigated, such as ‘Perovskite crystal coated panels,’ to boost this efficiency to roughly 27%.

Furthermore, efficiency advancements led to price reductions, allowing PVs to take over as the most dominant energy source on the planet. Global investment in new renewable energy capacity increased by over $2.5 trillion over the last decade, according to the UN Environment Programme’s Global Trends in Renewable Energy Investment 2019 study, with solar power capacity being built at a faster rate than other generation technologies.

 

Floating solar facilities are particularly worth looking at because the cooling impact of the surrounding water allows floating panels to produce up to 10% more electricity while also slowing module degradation.

However, India has already established itself as a global leader in solar development, having met its prior objective of 20 GW by 2022 – far ahead of schedule. However, managing and sustaining large-scale solar plants could be difficult for India because it requires various electrical components, which it now imports from China and other nations.

India’s present reliance on imports for solar modules is a major stumbling block. Another stumbling block is the renewable sector’s financing rates, which are approximately 12-14 percent, discouraging businesses from investing in solar installations.

 

Despite the limitations and hurdles, the solar industry is now looking at how digital tools might help them unleash more of the sun’s power. During the pandemic, India’s solar companies received a lot of help from the government.

Solar module manufacturers were encouraged to submit bids to set up manufacturing operations in India earlier this year, with the IREDA promising them perks under the PLI Scheme. When it comes to solar modules, this is a big step toward reducing reliance on imports. This will lessen reliance on oil firms and, in turn, reduce fuel imports.

As the world watches, India has a big potential to tap into its resources, bring in cutting-edge technology, and leverage its geological advantage to become the global manufacturing centre for renewable energy. To increase domestic solar manufacturing, a policy framework covering both tariff and non-tariff restrictions is required.

In India, solar PV tariffs have dropped to $2.44 per kilowatt-hour (kWh) from around $15 in the previous decade. More improvements and developments are expected in the coming decade, as the country has mastered the skill of constructing power plants with a capacity of thousands of megawatts. Here’s how technology is helping to set up solar structures and making the process more efficient. When it comes to renewable energy, storage will become increasingly important as demand grows.

Plants will be more flexible for fluctuating demand with the addition of monitoring via the Internet of Things and automation. Perovskite solar cells, which are synthetic hybrid organic-inorganic substances, may, nevertheless, take over.

India is currently importing 85% of its solar cells and modules from China. It does, however, plan to manufacture 36 GW of solar components in the United States over the next few years. It also has enough IT talent to assist in the development of IT-based solutions. India will be able to easily meet long-term renewable energy ambitions if it continues to improve its technological capabilities and keeps growing its solar companies.

 

 

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