Nation which is giant in its geography and where one sixth of humanity lives requires a huge amount of energy to drive itself.
As World is living in fear of Climate Change and focusing on Sustainable Development, Prime Minister Narendra Modi came blistering out of no where and stunned the world with his ambitious target of 100 GW Solar Energy and total of 175 GW of Renewable Source of Energy making Solar as 40% share of total Energy requirements till 2020.
India is blessed that each and every part of this Incredible land gets 300 days of Sunlight but mere Sunlight will not solve the problem of Prime Minister. Strong Financial Backup and Technological Advancement is need of hour.
Prime Minister first met World Bank President Jim Yong Kim and at the end of June, The World Bank announced that it would lend India more than $1 billion for its huge solar energy program.
India reckons its renewable energy industry could generate business opportunities worth $160 billion this decade, making it a lucrative market that has.
But 1 billion USD is still not enough for this ambitious target. PM Modi gives this responsibility to his best Piyush Goyal to make this Solar Area so fascinating and blend with excellent policy so that All Solar Industries of world attracted towards India and invest.
Piyush Goyal fresh with huge success in Coal Segment framed National Energy Policy.
Let’s discuss the accomplishments of this Government in these two years in the field of Renewables then we can project that what they will achieve till 2020.
(a): A capacity addition of 14.30 GW of renewable energy has been reported during the last two and half years under Grid Connected Renewable Power, which include 5.8 GW from Solar Power, 7.04 GW from Wind Power, 0.53 from Small Hydro Power and 0.93 from Bio-power.
(b): The target set for the various renewable energy sources for the next three years are as under:
Now Let’s check the initiative taken by Government in the field of renewables.
To achieve the targets, various initiatives have been taken by the Government which interalia include:
– Amendments in the Tariff Policy for strong enforcement of Renewable Purchase Obligation (RPO) and for providing Renewable Generation Obligation (RGO)
-Creating exclusive Solar Parks
-Development of power transmission network through Green Energy Corridor project
-Identification of large building complexes to implant RoofTop Solar
-Mandatory 10% Solar Installation while making Smart Cities
-Raising Tax Free Solar Bonds
-Making RoofTop Solar Part of Housing Loan
-Infrastructure status to Solar Projects
-Raising funds from global financial institutions and making it a part of bilateral business
-Introduction of Surya Mitra Mobile App which provides Installation, Services and Repairs of Solar PV Power Plants at Customer’s Door Step.
With a strong accomplishments and initiatives taken it is just a matter of time, When India and its people will be a part of Incredible Solar Revolution.