The Solar Power industry is fast evolving in India. Here are a few facts about the Indian solar sector-
- The country’s solar installed capacity was 35,739 MW as of 31 August 2020.
- The Indian government had an initial target of 20 GW capacity for 2022, which was achieved four years ahead of schedule.
- India has established nearly 42 solar parks to make land available to the promoters of solar plants.
- Rooftop solar power accounts for 2.1 GW, of which 70% is industrial or commercial.
Today, India has become the cheapest solar producer and is on the fast track to creating more sustainability and self-sufficiency. There have been multiple reasons why India can produce the most affordable solar in the world.
Why India has become the cheapest solar producer in the world.
- Specialized Government bodies like the Ministry of New and Renewable Energy (MNRE) and the Solar Energy Corporation of India (SECI) have been able to propel the country to global standards with the aggressive implementation of policies and team efforts. Today India is the 5th largest solar installer in the world.
- Incentives by the government have encouraged people to switch to solar energy. Tax breaks, custom, and excise duty benefits have ensured the growth of this industry.
- Lower prices and cheap labor costs have allowed us to manufacture solar panels, inverters, batteries, etc., at much less expensive rates than other countries. Once the cost of solar went below grid electricity costs, many people made the switch quickly.
Residential solar panels
Solar power is not only cheap but also much better than coal and diesel-generated electricity. Although commercial space is leading the solar revolution, rooftop residential solar panels can change the way we consume electricity. With a high ROI, reduced electricity bills (up to 90%), and 25 plus years of performance warranty, residential solar is here to stay.
If you want to get started on the solar journey, log on to https://sunedisoninfra.com/. SunEdison is an innovative and personalized solar energy solutions provider along with Complete Energy Ecosystem. With state-of-the-art Solar Power systems and advanced integration technology, they provide solar power to residential complexes and commercial complexes, and small businesses in urban areas, tier-two, and tier-three cities.