China’s policy shift, mega tender cancellations and policies levying taxes and duties on solar industry in India, feed-in-tariff cut in Japan have made 2018 the year of uncertainty for solar. However, surveys suggest that global PV solar installations will see nearly 18% rise in 2019, finally reaching and may be surpassing 100 GW capacity addition. Although, at the end of 2019, we would still be far from ‘0’ emission future, rising PV installation growth and emergence of new markets within developing countries will get us closer to that goal.
The growth of our society is dependent on energy. And, since we have built our world using limited fossil fuel reserves, continuously shrinking reserves have created scarcity for energy, and given rise to energy cost. Currently, more than 1 billion people live without electricity and continuous fossil fuel generation has led to environmental degradation. World’s decision to opt for sustainable energy in such a scenario can be considered as a decisive step, right before we would have crossed the point of no return.
Opting for green energy transition can offer release from economic and environmental binds of fossil fuel. However, to unleash green energy transitions’ full potential, which promises to build a better economy and industrial structure for a country, countries need to focus on manufacturing. Let us see why it is important.
Incredible growth of Indian solar industry has made the country a major solar player, estimated to become the third biggest solar market worldwide by FY 17-18. Indian solar industry has shown 145% growth in 2016 over the previous year. And it is estimated to add 8-10 GW solar capacity in FY 17-18, displaying nearly 90% year-over-year rise.