Considering the fact that India is one of three countries that mutually contribute to more than 70 per cent of the global CO2 emissions, the step towards green energy transition was an imperative, and decisive action indeed. Besides saving the climate, India stands to save enormously from fossil fuel expenditure with the success of green energy revolution. By championing solar, India not just initiated an industrial reform, but positioned itself in the global energy market, standing to generate profit as the world phases out fossil fuel.
India’s recent success in reaching 10 GW of on-grid solar capacity has made the 100 GW by 2022 target a bit closer than before. India has done an incredible job improving, implementing, and acting on- mandating solar installation in Government buildings, net metering, leadership in International Solar Alliance, provisioning viability gap funding, raising tax free solar bonds, offering long tenure loans, aggressive ‘Solar Park’ development and other initiatives, generating momentum which helped India add 5 GW capacity in 2016 itself.
The Indian Government has made incredible strides to lead the country into green energy transition. From 2010, when India had a meagre 10 MW solar capacity, the leap to 9 GW, has been commended at the global podium. And with favourable growth in solar installations, India’s module manufacturing capacity has grown approximately 150 per cent in just the last two years (from 2014).
The primary idea powering the Indian solar vision was energy sustainability and initiating internal industrial growth to control the nation’s own solar future. Approaching investors, drafting policies, and getting multi-billion-dollar financial aid to install solar panels in the country are obviously increasing the energy generation rate, which stands today at 8.06 GW. But, it doesn’t actually build industrial infrastructure required to claim a portion of global solar market or to provide sustainability.