Is solar energy the future in India?

Solar power in India is a fast developing industry as part of the renewable energy in India. The country’s solar installed capacity was 47.7 GW as of 31 October 2021. The Indian Government had an initial target of 20 GW capacity for 2022, which was achieved four years ahead of schedule.

Does thermal power have a future?

The country’s coal-fired thermal power generating stations face a bleak future with the ongoing water shortage crisis set to worsen. Presently, the rated capacity of thermal power plants outstrips the country’s peak demand level by 20 per cent and also in excess of 50 Gw above average power demand.

What is the future of Indian power sector?

The future of the power sector looks bright as by 2026-27, all India power generation installed capacity will be nearly 620 GW, 38\% of which will be from coal and 44\% from renewable energy. Total Installed Capacity as on April 2021 was 382 GW of which 36.5\% was generated from renewable sources.

Why solar energy is the future of India?

It is high time India moved to renewable ways to feed its population its fair-share of electricity. Solar energy has emerged as the most viable and environment-friendly option for India to cater to the energy requirements of one and all—including the 50\% of its rural inhabitants who still live without electricity.

Is solar energy the future of India?

Solar energy, therefore, has great potential as future energy source. It also has the advantage of permitting the decentralized distribution of energy, thereby empowering people at the grassroots level”. Often the economic growth of a country like India is measured in terms of GDP.

What is the future outlook of the Indian power sector?

Indian power sector is undergoing a significant change that has redefined the industry outlook. Sustained economic growth continues to drive electricity demand in India. The Government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition in the country.

How much is the installed capacity of solar power in India?

The country’s solar installed capacity reached 31.696 GW as of 31 October 2019. India has the lowest capital cost per MW globally to install the solar power plants. The Indian government had an initial target of 20 GW capacity for 2022, which was achieved four years ahead of schedule.

Which is the third largest producer and consumer of electricity in India?

India is the third-largest producer and consumer of electricity in the world as of July 2019. It is ranked 4 th in wind power, 5 th in solar power and renewable power capacity as of 2018.