India has the fourth-largest coal reserve in the world. Nevertheless, we still face a severe electricity crisis in the country. Approximately 31 million homes in India are still in darkness. Regardless of the form of resources such as coal, solar, wind, oil and such, the surge of India’s economy is dependent on energy that powers the country. As there is more demand than the supply of electricity in India, there is a significantly increased rate of consumption in fossil fuel, leading to negative impacts on the country’s air, water, land and forest resources. With the abundance of sunny days and geographical benefits, solar energy could be the perfect solution to India’s energy crisis.
An ideal sunny region of the world
Favorably, India’s is located in the sunny regions of the world. A majority of the country receives 4 to 7 kWh of solar radiation per square meter in a single day. With up to 300 sunny days a year, India’s solar resources account about 3000 hours of sunshine, which is equal to over 5000 trillion kWh. This is exactly why solar energy could be the answer to India’s Electricity shortage.
Future looks promising
The Indian government has taken very aspiring measures to implement solar power generation across the country. On 11th January 2011, former Prime Minister of India, Mr. Manmohan Singh launched the Jawaharlal Nehru National Solar Mission (JNNSM). The mission is to achieve a target of 20,000 MW of grid-connected solar power generation by 2022, 1,00,000 MW by 2030 and 2,00,000 MW by the year 2050. Current Prime Minister, Sri Narendra Modi gave approval for boosting the solar power generation to 1,00,000 MW by 2022 comprising 40 GW rooftop and 60 GW grid connected solar power.
Bridging demand and supply
The population of over 1.2 billion people in India has increased the demand to a large degree than the supply, leaving millions, especially in the rural areas without power. Measures such as JNNSM are encouraging investment in the solar sector, developing a market for solar energy in India. The increase in public awareness on saving environment and electricity shortage will enhance the demand for sustainable energy, providing growth opportunities for solar power.
Investors have seen the benefits of solar
As the cost of fossil fuels increases, the pressure is rising for all the sectors to find an alternative energy source. With the kind of platforms available in the present day world, awareness about the benefits of solar energy is increasing steadily. This is resulting in high demand for solar power plants with increased solar energy output. The high rate of return is attracting more and more entrepreneurs to invest in solar projects.
The Indian government has already laid foundations for future investments in solar energy. By reducing customs charges and exempting excise duty on solar panels and PV panels respectively. This smart move from the government could reduce the set-up cost of rooftop solar installations up to 20%.
Lighting the lives of millions
Intelizon Energy: With a mission of reliable and quality electricity for all, Intelizon is on its way to becoming the world leader in energy based product innovation. We are setting new standards in solar-based energy-efficient products using a combination of lithium-ion battery, LED and advanced electronics technology. Intelizon has created indoor, outdoor and portable lighting platforms catering to energy solutions for people living in rural areas worldwide.
Intelizon’s Zonstreet ++ (CCTV) and other solar-based applications are changing the face of India’s rural economy. These futuristic products from Intelizon are contributing a whole lot in solving the electricity shortage in India.