New Delhi: According to Prashant Kumar, Secretary at the Union Ministry of New and Renewable Energy, solar power is becoming more and more cost-effective in the power sector. In the past, silicon-based solar panels were the main technology for solar power. However, new innovations like perovskite solar cells are revolutionizing the energy sector, stated the secretary during the third High-level Conference on New Technologies for Clean Energy Transition held in the national capital.
The secretary stated that conventional silicon-based solar panels have been a fundamental aspect of solar energy for many years. In 2015-16, the price of solar energy produced by photovoltaic solar plants was Rs 7.04 per unit, while solar thermal plants cost Rs 12.05 per unit. Many production units utilizing photovoltaic technology are now experiencing rates below Rs 3 per unit. The biggest challenge faced by the industry was brought up by the MNRE secretary regarding energy storage. It is fortunate that we are making significant progress in advanced battery technologies. The lithium ion batteries have shown significant improvement and cost reduction over the months.
During his intervention, Union Minister Pralhad Joshi stated that the rise in demand for solar panels and associated technology is driving the growth of local manufacturing and small industries. Joshi emphasized the importance of storage technologies, stating that innovations in battery storage enable excess energy to be stored and used efficiently during peak periods or at night. The government has also launched numerous initiatives to increase the use of solar energy in the nation. The rooftop solar program PM Surya Ghar: Muft Bijli Yojana has received a huge positive reaction from the public. The government has set aside Rs 75,000 crore to provide solar power to 1 crore households.
Indian Government has put in place various actions and Programs to boost renewable energy capacity nationwide, with a goal of reaching 500 GW of non-fossil fuel electric capacity by 2030. Important initiatives consist of the National Green Hydrogen Mission, PM-KUSUM, PM Surya Ghar, and PLI schemes for solar PV modules. India is in a good position to become a worldwide leader in renewable energy, which will help with environmental sustainability and energy security.
ALSO READ: Nagaland CM Lays Foundation for PM-USHA Projects, Highlights Women’s Progress
FIRST Business Portal addressing the potential of business capability of North East Region.
