Both conventional and unconventional energy are equally important as per their properties in nature. Due to its vast and expanding population and quick urbanization, India has one of the fastest-growing energy markets in the world. Such fastest-growing energy markets demand more energy in terms of economic, commercial activities, or with regards to population, and urbanization factors. Sanjay Pasari thinks that more emphasis must be laid down on renewable energy for creating a better sustainable future.
India has made tremendous progress in renewable energy. Solar energy is the most efficient form of renewable energy since it uses concentrated sunlight to produce heat. There are currently more than 40 significant solar power plants in India that can generate at least 10 MW of electricity. The world's largest solar power park, which spans more than 14,000 acres, is situated in Bhadla Rajasthan, India. The biggest fully operational floating solar plant in India is also located in Ramagundam, Telangana.
A recent study found that India's solar energy capacity increased at a 41.39% compound annual growth rate (CAGR) from 6.76 GW in 2016 to an astonishing 54 GW in 2022. India's commitment to clean energy and its ability to take the lead in the global fight against climate change are both reflected in this considerable rise.
India’s impressive solar growth is attributed to various factors such as government policies and incentives, increased public awareness, and decreasing cost of solar power. Due to the government's dedication to renewable energy, the favorable policy climate, and the expanding solar power market, India has during the past ten years emerged as a global leader in the manufacturing of solar energy. Incentives and policies have been put in place by the government to promote growth, including tax breaks, subsidies, and a supportive regulatory environment. India's population is increasingly urbanizing, which is supporting the country's solar energy sector.
Thus, the solar industry in India is constantly growing at a positive rate, and the adoption of solar culture in the form of energy is also increasing. India is also making a significant development in solar energy manufacturing which is leading to a decrease its dependency on China.
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