Solar Efficiency Key to Energy Transition

08 Nov 2024 CW Team

Pralhad Joshi, the Union Minister of Coal and Mines, recently emphasized the crucial role of solar efficiency and cost reductions in India's energy transition. Speaking at an industry event, Joshi outlined that improving the efficiency of solar energy systems and reducing costs are essential to meeting India’s renewable energy targets and ensuring a sustainable future. As India seeks to fulfill its ambitious goal of achieving 500 GW of non-fossil fuel energy by 2030, solar power is expected to play a pivotal role.

The government’s focus on improving solar panel efficiency has been a cornerstone of the nation’s renewable energy strategy. By making solar power more efficient, the energy output per square meter of solar panels increases, making it more economical and accessible, especially in regions with limited space. Along with this, cost reduction in manufacturing solar components and systems will lower the overall price of solar energy, making it more competitive with traditional energy sources like coal.

Joshi further noted that the integration of advanced technologies and innovations in solar energy will help make renewable energy more reliable and economically viable. As the cost of solar energy continues to drop globally, India is positioning itself as a leader in solar deployment, both in terms of capacity and technological advancements.

The push for cost reductions and efficiency improvements is also in line with the government's production-linked incentive (PLI) scheme, which aims to boost domestic manufacturing of solar components. With these efforts, the country hopes to reduce dependency on imports and foster innovation in the energy sector.

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