India formalizes its 100 GW target

Till now India’s solar target of 100 GW by 2022, was not officially laid down and was communicated only through the minister’s word of mouth. On June 17th, however the Prime Minister of India formally announced India’s solar target of 100 GW to be achieved by 2022. The total global solar capacity installed by 2013 was 100 GW. This formal announcement has been done under the National Solar Mission, which will further boost the country and inspire it to achieve the targets. Though critics have not been a big fan of the numbers, I believe that even if the country achieves a part of what is laid down, it will be great for our energy deprived nation. Also once India is confident about its energy capacity, will it be able to distribute it to the energy deprived people of our country.

Read more about Solar Power in India.

The 100 GW target consists of 40 GW of rooftop solar installation  and the rest 60 GW would be large and medium scale grid connected solar power projects. With falling costs and improving cell efficiencies, there will be huge opportunities in the installation space, as distributed solar creates much more employment and profit opportunities for smaller players. MNRE has now come out with an appropriate action plan in place and will achieve this target under three parts of 19.2 GW each. Funding will be aided by large PSUs and IPPs. Approximately INR 150 billion of capital subsidy will be provided for rooftop solar.  The state government have also come out with their respective policies. The total investment is calculated to come around $100 billion.

How can solar create jobs in India

This big number will accelerate solar growth in India and will enable the country to be more energy-smart and confident. The manufacturing hub in the country will also create ample job opportunities and will provide employment to the unemployed. This could solve a major issue of the country. It plans to use the industrial technical institutes to train people and has already started a separate ministry to look after skilled manpower development. India should provide training to the youth in installing small scale rooftop projects, solar products and small village microgrids. The government banks need to provide funds at subsidized rates to help them. This will help the youth in gaining some skills and understanding of the solar market. It would be a more practical way rather than funding multi crore projects. I want to remain highly optimistic about the solar sector improving in India and also hopeful about the “Achhe din“ soon returning to the country!