According to Prashant Kumar, Secretary of the Union Ministry of New and Renewable Energy, solar energy is becoming India’s most affordable power source.
Solar power is now cheaper than ever, making it a top choice for electricity generation in India.
Earlier, most solar power depended on silicon-based solar panels but now, new technology, like perovskite solar cells, is changing the dynamics, making solar energy more efficient and cost-effective.
Mr. Kumar shared these insights during a conference focused on new technology for clean energy transition in the national capital New Delhi.
The cost of producing solar power has dropped significantly over the years. In 2015-16, it cost around Rs 7.04 per unit for photovoltaic systems and Rs 12.05 per unit for solar thermal technology.
But today, it costs less than Rs 3 per unit for many solar plants, all thanks to improvised technology and innovations.
However, Mr Kumar highlighted that one of the main challenges for solar power is energy storage. While solar energy is cheap and widely available, storage issues for later use are the biggest challenge for the industry.
Lithium-ion batteries have become more affordable, and there are significant developments in solid-state and flow batteries, which last longer and are easier to scale up.
Union Minister Pralhad Joshi also emphasized the growing demand for solar energy and related technologies, which is helping to grow local industries.
According to him, India is working on innovative battery solutions to ensure that energy collected during sunny days can be stored and used later.
The Indian government has launched several programs to increase solar power use, including the “PM Surya Ghar: Muft Bijli Yojana,” a rooftop solar program that aims to light up one crore households. The government has allocated Rs 75,000 crore to support this effort.
India aims to have 500 gigawatts of electricity from non-fossil sources by 2030. The government’s key initiatives, like the National Green Hydrogen Mission and PM-KUSUM, target to promote renewable energy production and support the growth of solar power.
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