INDIA PURCHASES THEIR INVESTMENT IN SOLAR ENERGY
India's solar development investment plan has quickly gained positive signals, promising to bring great benefits to the country in the future.
India benefits greatly when investing in solar energy.
In recent months, the price of solar power has plummeted and is close to the price of coal-fired power. This promises India's clean energy development investment is a viable option for the country of 300 million people currently without electricity.
Currently in India, the price of solar energy is 15% higher than that of coal. If the downward trend of solar power continues, many experts predict that this source of energy will quickly cost 10% less than coal by 2020.
In an auction of Indian government's clean energy development investment, a contractor accepted the supply of electricity to Rajasthan state at 4.34 rupees / kWh (0.06 USD), approximately the price. from a previous coal project. Vinay Rustagi, India's renewable energy consultant, said: "Solar energy is very competitive and it is a huge source of supply for countries like India."
Prime Minister Narendra Modi has issued top priority policies for power development plans and set the goal of providing 24/24 energy for nearly 1.3 billion people. Currently, India faces severe power shortages, even large cities often experience blackouts.
Therefore, to improve the power supply process, Prime Minister Modi aims to bring 100 GW of solar power into the national electricity grid by 2022. Infrastructure is also improved, while the grid system 280 GW will expand and modernize. Anshu Bharadwaj, Executive Director at India's Center for Science, Technology and Policy Research, emphasized: "The energy industry is quite optimistic, and there is no need for a better policy."
There are many reasons for the Indian government to invest in solar energy, but most importantly, clean energy is very suitable for the country with 13/20 of the most polluted cities in the world.
"In the long run ... investing in solar power can reduce air pollution," said Aruna Kumarankandath, an official at the Indian Center for Science and Environment.