By 2022, India wants to produce 100 GW of solar energy (solar power). Such a large undertaking may appear to be a mammoth task at first. On the other hand, the country’s long-term energy targets may not be too tough to achieve. India expects to reach 450 GW of renewable energy capacity by 2030, with solar energy accounting for around 280 GW. Due to the country’s geographical location and terrain, solar power has significant potential in the country. This offers the country a competitive advantage over other countries.
With a capacity of 2,245 MW, the Bhadla solar park in Rajasthan is the world’s largest producer of solar power plants. Currently, 90 percent of solar photovoltaic (PV) panel installations in India are made of crystalline silicon, which has a maximum efficiency of roughly 22 percent. Other methods, such as ‘perovskite crystal-coated panels,’ are being researched to increase this efficiency to around 27%. In addition, efficiency gains resulted in price reductions to the point that PVs now hold the most dominating position on the global energy scene. According to the UN Environment Programme’s Global Trends in Renewable Energy Investment 2019 study, global investment in new renewable energy capacity increased by over $2.5 trillion over the last decade, with solar power capacity constructed at a higher rate than other generation technologies.
Floating solar farms are also worth noting; the cooling effect of the surrounding water allows floating panels to provide up to 10% extra electrical output while also slowing module degradation. The following are examples of floating solar crops that are currently being developed in India:
Floating solar farm at Omkareshwar Dam. The power plant has a capacity of 600 MW. Kayamkulam solar plant is estimated to cost Rs 30 billion. The power plant has a capacity of 105 megawatts. 3.43 billion rupees is the estimated funding amount.
Ramagundam solar power facility, NTPC The power plant has a capacity of 100 MW. 4.32 billion rupees (approximately) in finance.
Nonetheless, India has already established itself as a solar growth leader, having surpassed its previous 20 GW target for 2022 – far ahead of schedule. The country also intends to develop a solar template using cutting-edge technologies. However, operating and maintaining large-scale solar services could be a challenge for India because it requires several electrical components that it now imports from China and other countries. India’s current reliance on imports for solar modules, to a large degree, is a roadblock. Another stumbling block is the cost of financing loans and other forms of credit. Companies are hesitant to engage in solar projects because of the low return on investment in the renewable sector, which is around 12-14 percent. As a result, it must carefully assess the availability of technical components, labor, and website selection before committing to such a large-scale project.
Despite the limitations and hurdles, the solar industry is now looking into how digital instruments might help them unleash more of the sun’s power. Throughout the pandemic, the Indian government has provided significant support to the solar industry. The federal government has made several initiatives to aid the sector, including lowering repo rates, declaring solar plant O&M a key service, eliminating tariff caps for solar bids, and implementing the PLI scheme, among others.
Earlier this year, the IREDA requested proposals from solar module manufacturers to set up manufacturing in India, including benefits under the PLI Scheme. This is a significant step toward reducing reliance on imports of solar modules. This will reduce reliance on oil-producing companies and even reduce gasoline imports.
As the world watches, India has a huge opportunity to tap its resources, bring in the most up-to-date know-how, and take advantage of its geological advantages to become the global manufacturing hub for renewable energy. To boost household solar manufacturing, a coverage framework incorporating both tariff and non-tariff limits is required. In India, solar PV tariffs have dropped to Rs 2.44 per kilowatt-hour (kWh) from around Rs 15 per kWh a decade ago.
More advances and developments are expected in the coming decade, as the country has mastered the art of constructing power plants with a capacity of tens of thousands of megawatts. Here’s how know-how is contributing to the organization of solar structures and making it a more environmentally friendly process. With the surge in demand, storage will become a critical component of renewable energy. Crops will be more adaptable to fluctuating demand if they are monitored via the Internet of Things and automated. Solar cells made of silicon, for example, are a well-known technology. Perovskite solar cells, which are engineered hybrid organic-inorganic substances, may eventually take over.
Asset and demand-side management will be critical, with data analytics and storage digitization expected to play a big role. Within the field of solar and renewable energy, there are numerous opportunities for innovation. As solar continues to gain currency, innovation in the design of solar plants and maintaining grid stability will aid in changing norms and needs. It will be fascinating to see how India makes use of these evolving technologies in the face of a variety of obstacles it faces in the energy sector. Digitization provides unrivaled efficiency gains and cutting-edge technology aids in lowering expansion costs.
India imports nearly 85% of its solar cells and modules from China, which is only a short distance away. It does, however, intend to produce 36 GW of solar components domestically over the next five years. It also has significant IT skills to aid in the development of IT-based options. If India continues to invest in technical advancements, it will be able to meet its long-term renewable energy targets with ease.
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