India is a country where Solar Power is booming and fast developing. Every hour, the sun strikes the earth with over 430 quintillion joules of energy. The amount of sunlight that strikes the earth’s surface in an hour and a half is enough to handle the entire world’s energy consumption for a full year. The total amount of solar energy incidents on Earth is vastly in excess of the world’s current and anticipated energy requirements.
Businesses and industries use solar technologies to diversify their energy sources, improve efficiency, and save money. Energy developers and utilities use solar photovoltaic and concentrating solar power technologies to produce electricity on a massive scale to power cities and small towns.
Read our blog on how solar panels work.
In the 21st century, solar energy is expected to become increasingly attractive as a renewable energy source because of its inexhaustible supply and its nonpolluting character, in stark contrast to the finite fossil fuels coal, petroleum, and natural gas.
According to the recent research report, the global Solar Energy Market in 2019 was approximately USD 50 Billion. The market is expected to surge at a CAGR of 20% and is anticipated to surpass USD 200 Billion by 2026.
The sun is a source of an electric and thermal form of energy known as solar power. Besides, solar energy is a renewable energy source that people can exploit anywhere in the continent, provided there is sunlight hitting the ground surface.
Since it comes from the sun then the source of power has no limit. Renewable energy tech produces electric power from infinite resources. Using renewable sources such as solar, water, and wind to create electric power does not lead to depletion. Sunlight consistently hits the earth’s surface, and after converting it into electricity, the source remains for future use.
Let us have a brief description of solar energy below and how it can satisfy all future energy requirements.
What Is Solar Energy?
Solar power is energy from the sun that is converted into thermal or electrical energy. Solar energy is the cleanest and most abundant renewable energy source available. India is now in 5th position for overall installed renewable energy capacity. Solar capacity increased in the last 7 years from around 2.6 GW to more than 42 GW.
Solar technologies can harness this energy for a variety of uses, including generating electricity, providing light or a comfortable interior environment, and heating water for domestic, commercial, or industrial use. The potential for solar energy is enormous since about 200,000 times the world’s total daily electric-generating capacity is received by Earth every day in the form of solar energy.
Solar energy uses the sun’s light and heat to generate renewable or ‘green’ power. The most common form of solar energy is harnessed by solar panels or photovoltaic cells. The most common form of solar energy is harnessed by solar panels or photovoltaic cells.
What Is Solar Power System?
Solar power is a form of energy harnessed from the power and heat of the sun’s rays. It is renewable, and therefore a “green” source of energy. There are 3 types of solar power systems:
- On Grid Solar Power System
- Off-Grid Solar Power System
- Hybrid Solar Power System
Solar Power System uses the technology of collecting the photovoltaic cells which then generate electricity through the photovoltaic effect, utilized for your home, industrial and commercial purposes. In other words, it is the process of collection of solar cells where the maximum amount of light hits the cell the more electricity is generated.
Solar is one of the fastest-growing and cheapest sources of power in the world and will continue to spread rapidly in the coming years. With solar panel technology improving each year, the economic benefits of solar improve, adding to the environmental perks of choosing a clean, renewable energy source.
Current Trend Of Solar Energy In India
The solar energy market in India is expected to grow at a CAGR of more than 8% during the forecast period. The COVID-19 impact was mainly witnessed on the supply of solar panels resulting in delays in solar projects. The country was hit hard by the COVID-19 outbreak, which forced the government to employ either complete or partial lockdown, resulting in disruption of the solar panels manufacturing industry during the first half of 2020.
Major factors driving the market are the declining cost of the solar modules and the government policies, like allowing 100% FDI under automatic route for renewable power generation and distribution projects, which is expected to increase the participation from global players into the Indian market. The Government of India is aiming to achieve 227 GW of renewable energy capacity by 2022, much ahead of its target of 175 GW as per the Paris Agreement.
India has an abundance of solar irradiance and receives solar energy throughout the year. This has created enormous opportunities to exploit solar energy from the sunniest sites in the country, especially Rajasthan, Gujarat, and Andhra Pradesh. India is a part of the International Solar Alliance (ISA) and aims at mobilizing more than USD 1000 billion of investment needed by 2030 for the massive deployment of solar energy.
Moreover, the government plans to add 175 GW of renewable energy by 2022, which includes 100 GW of solar and 60 GW of wind energy. The country has spent more on investment in solar PV than in all fossil fuel sources of electricity generation together. Therefore, the government schemes and plans to increase the renewables share in the energy mix are expected to drive the solar energy market in India.
With the recent surge (2nd Wave) in COVID-19 cases in April 2021, India is expected to delay nearly 4 GW of solar PV projects with the planned commission in 2021 and these are expected to get commissioned in 2022. In June 2021, Prime Minister Mr.Narendra Modi stated that renewable energy capacity in India increased by 250% between 2014 and 2021.
Solar Energy Advantages And Disadvantages:
Solar energy is a very flexible energy technology that captures radiation and turns it into useful forms of energy. It’s very crucial to find an energy that works for you and fits into your daily lifestyle. Here are some factors you must consider before you decide which energy is right for you:
Advantages:
There are various benefits of powering your home with solar energy. Here are crucial factors why should you switch your home or business to solar power:
Lowers Your Electricity Bill:
One of the most important factors is the usage of solar energy reduces the monthly electricity bill. On the other hand, you can generate your own energy through the power of the sun. Not only this, you can earn money. Some solar energy systems, which are endorsed by the state government will reward you with a tax cut for choosing a safer, greener electricity option and help you save money.
Environmentally Friendly:
Solar energy has fewer carbon emissions than standard forms of non-green energy which heavily rely on fossil fuels. Each kilowatt-hour (kWh) of solar energy substantially reduces greenhouse gas emissions like CO2 and other dangerous pollutants such as sulfur oxides, nitrogen oxides, and particulate matter. Greenhouse gas emissions are insignificant because solar power uses no fuel combustion and the more we choose renewable energy the cleaner air we can feel.
More Energy Independence:
Fossil fuels are limited resources and cannot be replaced. But solar energy cannot run out and allows you to grow independent as technology develops. You can find ways to incorporate renewable energy into everyday life.
Low Maintainance:
Solar energy doesn’t have any moving parts and there is no risk of any breakdown or anything go wrong. Solar energy systems are easy to maintain and there is no need to spend money on repairs. Most solar energy systems come with an extended warranty say up to 25 years. This is an important factor for those who are not able to maintain household appliances and choose solar energy systems as an attractive choice.
Sustainable:
Solar energy is the most abundant energy resource on earth and could be a stable resource for billions of years. Around 173,000 terawatts of solar energy strike the Earth continuously, which is more than the world’s total energy use.
Benefits The Electricity Grid:
Solar power puts less burden on the electric grid, and some U.S. states offer net metering policies. These policies allow generating solar power to sell excess electricity and receive credit on the utility bill. This reduces the amount of electricity you need to source from a utility.
Disadvantages:
Solar energy may not be best for everyone. Below are some reasons why people don’t switch to this eco-friendly system:
Energy Storage:
In some cases, if you don’t use solar energy immediately it must be stored on batteries which are stored on costly and space-consuming. You must charge the batteries during the day and use them at night.
Substantial Initial Investment:
The initial investment in solar power systems can be quite costly with different pricing options. Rather, this cost varies depending on your location, installation requirements, and the number of solar panels needed. It may be difficult for household purposes.
Needs more space:
If you need more electricity, then you must need more solar panels which leads to more space. It may not be possible for all roofs to have adequate space to equip a large number of solar panels that customers want or require.
Doesn’t Work At Night:
During the nighttime, solar energy has to rely on utility grids to generate power when sunlight is not there. There are some solar panel systems that have an optional battery backup, but this is not available with other options.
Location Matters:
Sun is an abundant source of energy and its availability can vary throughout the world. Sometimes, it depends on where you live, weather conditions, etc. In some parts, the sun won’t appear during the winter season which can be an issue to rely on solar energy sources. During solar eclipses, those solar systems will need to get power from other sources of electricity to supplement the decrease in solar power energy. Make sure, you have adequate battery backups to get you through the darker times.
Is Solar Energy Right For You?
Interested in solar power for your home? Before you commit to newer and green energy options always give a try to a budget-friendly and affordable option for your home or family!
Solar energy does not release toxic emissions into the atmosphere that can harm the environment and living things. Besides, it doesn’t contaminate the water. Just calculate once, how this solar energy option would cost you in the long run and save you time.
Solar energy can be captured at many scales using photovoltaics, and installing solar panels is a smart way to save money on your electric bill while reducing your dependence on nonrenewable fossil fuels.
If you are looking to install solar on your home or business, then make a quick list of pros and cons that suits your family! Be sure to conduct thorough research before beginning any new effort.
Any questions about solar energy or other renewable energy sources? Leave them in the comment section below!
