While countries are tapping renewable and natural resources for energy, not all that looks sustainable stays that way at the end of its life-cycle. A look at the urgent need to develop a circular economy for clean power systems.
In India, solar is firing on all cylinders or – one might say – making hay while the sun shines. The near future is expected to witness even greater growth as solar moves from vanilla grid-connected projects to newer and more innovative forms of use.
The target of 175GW of renewable energy by 2022 and the formation of the International Solar Alliance with India in the lead are examples of our commitment towards clean energy. With both solar and wind power established as being cheaper than coal-based power, going by economic logic alone, majority of India’s future capacity additions should be through renewables.
Today, the cost of solar power is significantly lower than utility tariffs for industrial and commercial consumers in India. Solar projects, due to their negligible variable cost, can offer fixed tariffs for 20/25 years, providing low cost, fixed price and zero carbon electricity over the long term.
Since 2015, investment in renewables by developing economies has exceeded that by developed countries; in FY2017, the global renewables industry saw fresh investment worth over USD 280 billion.
CII and Hero Future Energies embarked on Phase II of the Powering Your Rooftops series of workshops on accelerating India’s Rooftop Solar Programme with a session at Coimbatore on 25 June 2018. A report.