renewable energy resources

India has developed an impressive infrastructure of solar power. Also, the country is doing well in hydroelectric and wind power.

India is the 3rd largest consumer of electricity in the world. Also, it is the third largest producer of energy from renewable sources. According to India Brand Equity Foundation (IBEF), the country formed the International Solar Alliance (ISA) with 121 counties. It is the first country in the world to set up a ministry and a public sector undertaking called Solar Energy Corporation of India (SECI) to boost the renewable energy industry in the country.

What Is The Future Of Solar Power In The Country?

India blessed with a perfect combination of dense population and high solar insolation required to generate solar power in the nation. In November 2009, the then government launched Jawaharlal Nehru National Solar Mission under the National Action Plan on Climate Change. Prime Minister Manmohan Singh inaugurated the program on 11 January 2010 and set a target of 20GW grid capacity by 2022, which was increased to 100GW by Prime Minister Narendra Modi in 2015.

How Is India Switching To Solar Power?

Since most parts of the country do not have an electric grid, people use diesel-powered pump sets to pump water for agricultural purposes. According to an estimate, more than 40-45 diesel pump sets are operating in the country. A diesel water pump consumes 3.5-kilo watts, ad off-grid lighting. Also, the country has undertaken some major projects like covering the Thar Desert to develop renewable energy resources.

The central government has also set up a US$350 million fund. Also, Yes Bank has announced a US$5 billion to finance solar projects. It is called Indian Solar Loan Programme for building new energy sources. Supported by the United Nations Environment Programme, it has won the prestigious Energy Globe Award for setting up a consumer financing program so every home can have a solar power system.

Supported by the central government, solar companies in India have set examples before the world. India is the only country in the world to have a 100% solar power operated airport in Cochin, Kerala. The railway station of Guwahati, Assam is 100% solar powered. Also, the country has the first and the largest floating solar plant at Banasura Sagar reservoir in Wayanad, Kerala.

How Could Consumers Take Advantage Of the Solar Program?

The country is taking long strides in the field of solar power. The government knows that it needs to empower the end consumer to generate solar energy at home. Launched with much fanfare in 2003, the government has financed over 16,000 solar home systems over three years. And it has been possible only because of the simplicity of the loan program. The government intends to help the people, and it’s evident from this loan program.

The government is providing subsidies to solar energy companies in India to achieve their solar energy goals. The benefit of subsidy is passed on to the end users. Even you can start your own solar panel business with the help of a government subsidy.

Here’re Top 5 Solar Panel Manufacturers In India

renewable energy industry

1. Waree Energies Ltd.

Established in 1989 in Mumbai, this company has a NABL Lab facility, and they offer EPC Services, Project Development, Solar Water Pumps, Independent Power Plants, and much more. He has over 32 years of experience and presence across India.

2. Tata Power Solar Systems

This company has established a hold over the residential rooftop solar units market for over 20 years. It has shipped about 1.4 GW of solar modules worldwide.

3. Vikram Solar

One of the largest solar power companies in the country, Vikram Solar is credited with setting up and commissioning over 1355 MW of solar projects across the country. Also, they have established a 10 KW floating solar plant in Kolkata.

4. Adani Solar

Adani Solar is a subsidiary of Adani Enterprises Limited. It is one of the largest solar panel installers in the country and one of the 15 largest utility solar power developers in the world. They produce 1.5 GW+ capacity solar cells and modules at their Mundra plant in Gujarat.

5. Microtek Solar Solutions

Microtech is one of the leading manufacturers of solar panels with the latest technologies. This solar panel-making company in India produces Photo Voltaic Modules, Power Conditioning Units, Solar Management Units, and Solar combo packages.

Renewable Electricity Generation In India

Apart from solar energy, India is also exploring options for other renewable sources of electricity generation. The country is making long strides in the field of hydroelectric energy where it is currently ranked 5th in the world. As of March 2020, the country was generating 45,699 MW of hydroelectricity which is 12.35% of its total utility electricity generation.

In its pursuit of renewable energy resources, India began developing wind power in 1990, and India did well in this area with the help of domestic policy support from the government. The country had a slow start but it soon developed into the fourth largest installed wind power infrastructure in the world. The renewable energy industry is developing at a rapid pace with the support of the government.

Final Thoughts

The world is looking for renewable sources of energy to meet the growing electricity demand. Solar power, hydropower, and wind power are some reliable sources of renewable energy. But countries have to do a lot more to make the best use of renewable energy. The India Brand Equity Foundation (IBEF) document states that the country is performing well in every sector, including solar power, hydropower, and wind power. Also, go through 5 Common Issues Users Have With Solar Panels

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