Renewable energy could generate 49% of electricity in India by 2040 because more efficient batteries–to store electricity when the sun doesn’t shine.
On May 12, 2017, India recorded its lowest-ever solar tariff of Rs 2.44/unit of electricity. That is a 73% fall since 2010, and compares favorably with India’s cheapest power source–coal, electricity from which now ranges between Rs 3/unit and Rs 5/unit.
Renewable energy could generate 49% of electricity in India by 2040 because more efficient batteries–to store electricity when the sun does not shine–will provide flexibility of use and boost the reach of renewables, cutting the cost of solar energy by a further 66% over current costs, according to the Bloomberg New Energy Outlook 2017 report.
Solar Energy Power in India: Future
In solar energy sector, many large projects have been proposed in India.
Thar Desert has some of India’s best solar power projects, estimated to generate 700 to 2,100 GW.
On March 1st, 2014, the then Chief Minister of Gujarat, Narendra Modi, inaugurated at Diken in Neemuch district of Madhya Pradesh, India’s biggest solar power plant.
The Jawaharlal Nehru National Solar Mission (JNNSM) launched by the Centre is targeting 20,000 MW of solar energy power by 2022
Gujarat’s pioneering solar power policy aims at 1,000 MW of solar energy generation.
In July 2009, a $19 billion solar power plan was unveiled which projected to produce 20 GW of solar power by 2020.
About 66 MW is installed for various applications in the rural area, amounting to be used in solar lanterns, street lighting systems and solar water pumps, etc.
India is slowly gaining its prominence in the generation of solar power due to the comprehensive and ambitious state and the Centre’s solar policies and projects and National Solar Mission. In the latest 2014 budget, Finance Minister Jaitley declared that the Government has proposed an amount of 500 crore rupees to develop some mega solar power plants in Gujarat, Tamil Nadu, Rajasthan, and Ladakh. He also said that solar power-driven agricultural water pumping stations and 1 MW solar parks on canal banks will be developed in the country at an estimated cost of $74 million and $18.5 million, respectively. Considering all these facts, we do have a bright picture in front of us as India’s potential to be a solar power driven country of the world.