Indian Solar Energy Sector, Basking in the Glory

$250

Additional information

Length

4 pages

Publisher

Gyan Research and Analytics Pvt. Ltd.

Table of Content

1. Overview
1.1 Energy Scenario in India
2. Renewable Energy in India
3. Solar Energy in India
4. Investment Trends
5. Policy Framework and Initiatives
5.1 Foreign Investment Policy
6. Major State-wise Initiatives in Solar Energy
7. Issues in Indian Solar Industry
8. Outlook

Synopsis

India is one of the leading consumers of energy in the world. It is the fifth largest consumer of energy worldwide and is projected to be the third largest by 2030. In recent years, India has emerged as a preferred destination for investment in the renewable-energy market owing to its huge potential.
The country’s Integrated Energy Policy Report, 2006, estimates that India will need to increase primary energy supply three-four times and electricity generation five-six times to meet the per capita consumption needs of its citizens and sustain a 8 percent growth rate. This translates into a required generation capacity of 800 Giga Watt (GW) compared to the 160 GW available today. The need of the hour is to bring in new generation capacity and improve operational efficiency in transmission and distribution. Total primary energy consumption in India stood is estimated at 24.8 quadrillion BTU in 2012. The demand for energy is expected to grow at a rate of 21 percent in the next five years, driven by a growing population, increasing demand for quality lifestyle and a rising economy.
India’s economic growth is placing enormous demand on its energy resources. The country imports about 80 percent of its oil – a figure that is likely to increase. In addition, over the next decade, its thermal power plants may generate less amounts of energy due to lack of indigenous coal. All these factors have compelled the country to look for alternative sources of energy, such as wind, solar, hydro and biomass.
As on May 31, 2013, installed capacity of renewable energy-based power generation stood at 27,542 MW, which is about 12 percent of the country’s total installed capacity of 225,133 MW. Large hydropower accounts for about 18 percent of India’s generation capacity. The other renewable energy sources (RES) are wind energy, solar energy, biomass and waste energy and small hydro energy.

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