Revolutionary boost in India’s energy sector

Aiming to make a bright vision for India’s energy sector in line with the goal of nation building, Indian government policies have adopted a view towards development of renewable energy resource like solar power. The energy sector is the main pillar in accelerating India’s economic growth. India has taken a noteworthy step forward in implementing its green growth agenda by increasing its installed capacity of solar power. One of the major policies of Prime Minister Narendra Modi to transform India into a global manufacturing hub is “Make in India”. While this initiative is a boon and covers almost every sector, solar also finds a place in it. Our respected Prime Minister Mr. Narendra Modi has announced a 5 fold increase in the target of generating solar power to a whopping 1,00,000 MW so as to attract more international investors to invest in our energy supplying companies. All state governments revamped their solar energy policies to meet the new target. Madhya Pradesh being the first to announce the setting up of special solar energy parks with single-window clearance has taken steps to achieve the target set by Mr.Modi. Madhya Pradesh is considered to be the epicenter of cheap solar power in all of India. Thermal power on the other hand is far from being cost effective and worse, depletes the environment. As a responsible citizen of the country making usage of solar power energy as a substitute for the former would help in a long way as it pocket sizes the overall energy consumption and expenses and ensures we make the most of the natural resources bestowed to us by mother nature. India, which is the second largest country in the world with 1.25 billion people, is in good hands with environmental development. The Madhya Pradesh power suppliers had several offers up their sleeve ranging as below as Rs 5 per unit for the next 20 years and numerous companies took part in the bidding process. The credit for the tumbling prices can be given to the increase in the Chinese exports and has led to 80 % sink in prices of photovoltaic cells in the last 5 years. Also it attracted commitments from foreign and domestic companies for the production of an incredible 217,000 Mw of renewable energy with an estimated investment of over $200 billion in the next five years. “What has happened in India in solar sphere in five years took 15 years in Germany,” said Christian Redl of Agora Energywende, Germany. In India Solar technology is seeing a major transformation and solar energy sector is growing at a breathtaking speed to achieve the importance globally.