Indian Solar Power Sector – The Emerging Trends

At present, the Indian solar power sector is going through a technology-based transformation. It is moving from manufacturing to installation to help improve cost efficiency and performance level big time. With the world looking for sustainable energy solutions, India gains the most renewable options because of its geography. It is backed currently by stimulative government policies, which have made the renewable or green market expand pretty hardcore these days.

India has the power to harness solar power pretty evidently. With COVID-19 hitting people hard, it might have dampened the predictable growth a bit but the forecasts are really incredible. The current Indian solar power industry has actually gained from the indigenous firms, mainly the manufacturers who are now focusing to produce technology-backed solutions and components within the country. The present trends within the solar industry are achievable and not just promising.

Increase access towards solar energy:

There are different Indian sectors that are now considering solar power to be a sustainable source of energy supply. It is possible largely mainly because of the manufacturers working on the solar panel. They spend enough time manufacturing the solar panels and the related components in an ingenious manner. The best part is that they are not quite relying on their Chinese counterparts that much!

• The Indian dependency on Chinese solar power components was considered to be a major hindrance in pricing components at an effective rate like panels and wind turbines.
• With the way things are moving forward, you will see some extra use of solar power and not the ones for residential and commercial sectors. There will be some available for the households as well.
• The major access to solar power resources is currently expanding and ready to improve at the same time.

Getting overall support from the government:

The MNRE or the Ministry of New and Renewable Energy is now focused on the current National Solar Mission. It was initiated in the year 2010.

• The target of the mission was to present 100 GW of the installed solar electricity capacity by 2022 and various other policies to be launched for the same purpose.
• This change means that the players and manufacturers within the solar industry will enjoy more subsidies and some other generic schemes to help in minimizing the present R&D costs and the expenses of the upfront installation.
• With the present loan support for all the vested parties, it is always predictable that the interest within the solar industry will exponentially inflate.

AI and the value of digitalization:

Right from research to the production and final infrastructure, digitalization is always ready to transport every aspect of the solar industry. Most firms are now trying to use the power of ML and AI for improving the commercial viability of solar projects. The use of drones, robots, and data and software solutions within the renewable sector is one interesting trend, mainly in homegrown countries.

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