India is endowed with enormous potential for solar energy. Around 5, 000 trillion kWh per year energy incidents occur in India's land area and most parties receive 4-7 kWh per square meter. Photovoltaic solar energy can be effectively harnessed by providing enormous scalability in India. One of the most important factors influencing the establishment of solar energy is the availability of solar radiation.
India's geographical location is beneficial for generating solar energy. There is solar radiation almost all year round and almost all parts of India receive more than 4 kWh of solar radiation per square meter, which adds up to 3000 hours of sunshine per year. India has an installed solar power capacity of 45611.91 MW, which represents about 11.8%. Currently, solar energy accounts for four percent of electricity generation.
Prior to Modi's announcement, the IEA estimated that solar energy and coal will converge by approximately 30 percent each by 2040 under current policies. With the importance of electricity known to all, India needs to renew its energy options and renewable energy, specifically solar energy, may be the best option. In addition, while India has achieved record low rates for solar power generation in the utility-scale segment, this has not translated into cheaper energy for end consumers. This has made solar energy a cheaper source of commercial or industrial energy in most of the country's major states.
To make Gandhinagar a solar energy city, the state government has initiated a rooftop solar power generation plan. India has also introduced the concept of One Sun, One World One Grid and the World Solar Bank to harness abundant solar energy on a global scale. India's National Institute of Solar Energy has determined that the country's potential solar energy capacity is about 750 GW. Singh announced last fall that the country would increase its domestic solar manufacturing base to reduce dependence on solar cells and modules imported from China.
One of the main benefits of photovoltaic solar technology is that it can be installed at the point of consumption, significantly reducing the need for large capital-intensive transmission infrastructure. Technology sharing and funding could also become important aspects of the ISA in the future, allowing significant cooperation between countries in the solar energy sector. This boom in the adoption of solar modules has occurred due to lower solar panel prices. Transmission and distribution losses are another major infrastructure barrier for a centralized large-scale solar energy services sector.
Overall, in this scenario, India will add energy capacity the size of the EU over the next two decades, with solar and wind energy accounting for more than three-quarters of this growth, the report said. So far, India is producing less than 10% of the energy it could generate using wind or solar resources. The government launched a plan called “Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan”, which aims to install new independent solar pumps in off-grid areas and solarize existing grid-connected agricultural pumps. The arid state of Rajasthan, where Bhadla Park occupies an area almost the size of San Marino, has 325 days of sunshine each year, making it a perfect location for the solar energy revolution, officials say.