Recently ORF( Observer Research Foundation) issued an article over the solar power sector of India in the upcoming time, it ramped up solar energy generation and equipment manufacturing that can make India's economy sustainable and 'Atmanirbhar'. COVID-19 pandemic is affecting countries across the globe and bringing the economy to a halt. The Solar industry is also not insulated. The COVID-19 outbreak came at a time when the country's solar project execution was at its peak in the last quarter of the financial year.
The path for economic recovery Post COVID -19
Countries around the globe are constructing strategies for the recovery of the economy post-COVID-19. Several debates have started to analyze and adopt finest Economic growth model. The old quantitative economic growth model dependent on fossil fuels for energy whereas the new qualitative economic growth model focused on renewable energy and most of the countries are lugging from old to new model.
India has shown real commitment to use clean green renewable energy for economic growth. India has set itself or target of 175 GW renewable energy capacity by 2022 including 100 GW of solar and 60GW of wind power capacity. But solar energy generation and Solar equipment manufacturing sector hasn't received the due importance in Atmanirbhar Bharat Abhiyaan.
Solar power sector and Atmanirbhar Bharat
India has a large potential for generation of solar power. It is one of tropical countries with 300 clear sunny days in a year. Development of solar power sector can assist India in achieving Self-Reliance in following ways :
▪︎ Employment generation
▪︎ Rural development
▪︎ Reduction in fuel import bills
▪︎ Faster installation of power generation units
▪︎ Clean environment and enhanced quality of life
This sector can provide employment to all kinds of labour in various activities like :
• Manufacturing of solar equipments
• Development of Solar Power Plant.
•Installation and maintenance of rooftop solar panels.
India is among the fastest growing economy but it depends heavily on imports of energy. This places Indian strategic interest at rest and dampens sustained growth rate. Despite the ambitious target of solar power generation, India has an annual solar manufacturing capacity of about 3GW while the average annual demand is 20GW , Seven of India's top Ten module suppliers are Chinese firms, a big fragility.
How to become Atmanirbhar in solar power sector!
To achieve self sufficiency in manufacturing of solar equipment, India need a new Solar sector development policy with focus on following these issues :
▪︎ Development of core competency in semiconductor manufacturing.
▪︎ Government policy to subsidised solar manufacturing sector.
▪︎ Reduce the cost of capital/ Cheap loans.
Government of India has launched a scheme of 100% solarisation of Konark Sun Temple in Konark town on Odisha and name it as Suryanagari.
India invites several companies bid for One Sun One World One Grid.
International solar Alliance initiative jointly launched by Prime Minister of Indian president of France.
Conclusively it's informative to know but here government should focus in this sector to develop India's economy rapidly by utilising solar energy in a virtuous manner.