The National Solar Mission (NSM) under the National Action Plan on Climate Change (NAPCC) has enhanced its initial target of installing 20 GW grid-connected solar power plants to 100 GW plants by the year 2022. More than 74 lakh solar lanterns and study lamps along with over 17 lakh home lights have been distributed under the Off-Grid and Decentralised Solar Programme.
In 2018, India’s investment in solar photovoltaic exceeded that across all fossil fuel sources of electricity generation put together. By December 2019, India had deployed a total of 84 GW of grid-connected renewable electricity capacity. In December 2019, NTPC announced an investment of US$ 7.26 billion to add 10GW to the solar energy capacity by 2022.
The “Make in India” manufacturing initiative invites global companies to produce solar photovoltaic, lithium batteries, solar charging infrastructure and other advanced technologies in India. The Ministry of new and renewable energy has invited tenders for setting up Solar photovoltaic manufacturing capacities with assured off-take of 10000 MW.
ReNew Power and real-estate giant Shapoorji Pallonji have planned to invest US$ 0.11 billion in a 150MW floating solar power project in Uttar Pradesh.
Gegadyne Energy has developed and pioneered the science of Quick Charging Battery Technology. They are experimenting with unique proprietary Nano-material composites and advanced battery architectures to enable quick charging batteries with high energy density similar to lithium-ion batteries.
The Energy Sector is at the heart of India’s growth story. While conventional energy has provided considerable momentum to the sector owing to its sheer size, India’s focus on renewables, especially solar, brings with it a promise of eventuating a paradigm shift in global energy architecture. India’s energy endeavour is certain to have far-reaching consequences in the composition of global energy infrastructure.