India aims to achieve 100GW of solar power production by 2022. At first, such an ambitious project may seem like a herculean task. But on the other hand, it may not be too difficult for the country to achieve its long-term energy goals. India aims to achieve 450 GW Renewable energy capacities by 2030, of which about 280 GW is expected to be solar energy. There is a huge potential in the country for solar power due to the geographical location and terrain of the country. This gives the country an edge over other nations.
Bhadla solar park in Rajasthan is the largest producer of solar power plants with a capacity of 2,245 MW. Currently in India, 90% of the current solar photovoltaic (PV) panel installations are based on crystalline silicon, which maxes out at about 22% efficiency. There are other technologies being developed such as ‘perovskite crystal coated panels’ which can bring up this efficiency to about 27%. Also, efficiency improvements led to price reductions to such levels that PVs acquired the most dominant position on the world energy stage. Global investment in new renewable energy capacity in the past decade was over $2.5 trillion, with more solar power capacity installed than other generation technologies, according to the Global Trends in Renewable Energy Investment 2019 report published by the UN Environment Programme.
Floating solar plants are also something worth observing; the cooling effect of the surrounding water allows floating panels to produce up to 10% more electricity and slows module degradation. Floating solar plants currently being developed in India are as follows:
· Omkareshwar Dam floating solar farm. Capacity – 600MW. Estimated investment – Rs 30 bn
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, Kayamkulam solar project. Capacity – 105MW. Estimated investment – Rs 3.43 bn
· NTPC, Ramagundam solar power plant. Capacity – 100 MW. Estimated investment – Rs 4.32bn
That said, India has already proven itself a leader in solar development, having achieved its previous 2022 target of 20 GW – way earlier than expected. The country also hopes to leverage the latest technologies to establish a solar template. However, managing and maintaining large-scale solar facilities could be a challenge for the country as there are several electrical components required which India currently imports from its neighbour China and other countries. A hurdle for India is its current dependence on imports to a large degree for solar modules. Another hurdle is financing rates for loans etc. in the renewable sector, which is around 12-14%, which discourages companies from investing in solar projects. Thus, it needs to gauge the availability of technical components, manpower, and site selection carefully before taking the process to such magnitude.
The solar industry is now exploring how digital tools can help them unlock more of the sun’s potential – amid the restrictions …….