Overview of the Solar Energy sector in India

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India has a vast supply of green energy resources, and has a significant program for deploying these resources. An exclusive ministry for renewable energy called Ministry of Non-conventional Energy Sources later renamed as Ministry of New and Renewable Energy (MNES) has also been set up.

According to the recent report on Renewable Energy in India from www.india-reports.com, http://www.india-reports.com/summary/energy.aspx ,the Renewable Energy market in India is pegged at US$600 million, growing at 15% per annum.

The Government’s renewable energy target by 2030 is 200 gigawatts, estimated to require US$200 billion in capital investment. Currently, 3.5% of installed capacity is in the renewable sector, producing 3700 MW. Renewable energy is projected to produce 10,000 MW by 2012.

Solar Energy in India

Solar Energy is one of the fastest growing sectors of the Renewable Energy Sector in India. The estimated potential of Solar Energy in India is 5000 trillion units per year.

Private investors have invested US$20 billion to build plants to make photovoltaic cells. The Government of India has announced incentives to manufacture solar cells and panels.

Most of the expansion in India is to primarily cater to global demand for solar energy infrastructure. The demand in India for solar energy generation infrastructure is growing at 25% per annum.

The solar energy industry requires additional incentives by the government to encourage solar power adoption to give an added boost to the sector in India.

Major trends in solar energy generation in India

Some of the major trends in Solar Energy Generation in India are:

1. Solar tracking mechanisms – collectors or parabolic dishes that track the movement of the sun and move accordingly
2. High efficiency photovoltaic cells – With an efficiency of 13% with single crystal silicon, no moving parts and easy maintenance
3. Cells with concentrators to become effective and deliver same results with lower intensity of sunlight or fewer cells

The major constraint to Solar Energy Generation in India is the high initial costs for setting up.

The solar energy industry requires additional incentives by the government to encourage solar power adoption to give an added boost to the sector in India.

Read more about the different sources of renewable energy in India, installed capacity and potential here http://www.india-reports.com/summary/energy.aspx

Click to read on an Overview of the Wind Energy Sector in India

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