3 trendsetting developments in indian solar power industry
India is making great strides in the solar sector and all parts of the industry are gearing up to give a great push to the dream of making India power reliant in near future. The government has left no stones unturned to make solar power popular and available to all. Solar industry is witnessing a slow but certain boom thanks to greater public awareness and trendsetting developments.
Are you aware of the recent trendsetting developments in Indian solar power industry? Sample 3 below to understand the potential of this sector:
1)Solar Power Cheaper than thermal power
Recent a bidding for solar power generation has given hopes for all time low solar tariffs. As per the estimates, solar power tariffs are expected to fall even further in coming years from the existing Rs. 4.34 per unit. This is a welcome development given the fact the conventional power prices have been rising steeply over the last decade. Lower solar power cost will go a long way in popularizing solar power and making it accessible to all.
Why the rates have fallen?
The rates have fallen mainly due to:
- Advances in solar technology making solar panel manufacturing cheaper
- Reduction in capital cost of solar companies over the period of time
- Competitive funding made available to solar manufacturing and solar power generating companies as more players enter the solar industry
If developed and executed responsibly, Solar power has the potential to pave the way for India’s total energy independence.2)Train the future generations of Solar Technicians
Renewable energy especially solar energy is being given a great push by the Indian Government. Thanks to its advantageous geographical location, India has a huge potential to become solar super power by 2022(link to superpower blog). But to implement the mega solar projects as well as the smaller solar installations for homes and individual units, we would need a trained solar professional who are qualified to work efficiently. Keeping this requirement in view Delhi government has launched a solar program,” Suryamitra” which is aimed at solar skill development. This is a three-month training program where the technicians will be trained for free.How will Suryamita make a difference?
This program will further the cause of inclusive growth and make solar services easily available for all. Some of the benefits are:
Rent your rooftop and get cheaper solar power
- Create a workforce skilled in solar technology installation, commissioning, sales and service of solar equipments.
- Creating jobs and better employment opportunities for the masses
- Provide better information to solar users by creating mobile apps that will book Suryamitra solar technicians as and when needed.
The solar power companies have come up with a novel solution for the lack of space in modern apartments which in many cases is biggest deterrent in solar installations. Many a times, the flat owners are willing to reap the benefits of solar power but they are unable to do so either due to the lack of proper roof space for solar installation. So, many solar power companies are now approaching targeting industrial units, commercial buildings, malls and large residential societies which have sufficient roof space. The rent their rooftops and install solar panels for free. Then they supply the same building with solar power at rates much cheaper than the conventional utility power supply. This plan is gaining vast popularity in metro cities and Kolkata already has many players in this field.Why Renting rooftop for solar installation is a win-win scenario
Renting out rooftops is a very profitable solution for both solar companies and the end user. Let’s see how:
- Users get cheaper electricity and make huge savings
- Due to solar installations property owner get premium value while renting or sale
- Solar Power companies get the opportunity to expand business by reaching out to more customers
- The nation benefits as more power is generated and gap between demand and supply is bridged
- Solar energy reduces dependence on environment polluting DG sets as power back up
- Educating masses on benefits and savings of solar power
These advances in the field of solar energy are clear indicator that India is fast moving towards complete energy reliance by tapping the huge potential of freely available sunshine.
If you know about any trending news of the solar energy, feel free to share in comments below.