Industry Welcomes Govt’s Move To Ensure Solar as a Sunrise Sector of India

considered as a major breakthrough for the solar industry. According to the policy document, the programme will be implemented with total Central support of ₹11,814 Crore, with the government extending financial assistance of 40 per cent for 3 kW capacity and 20 per cent beyond 3kW up to 10 kW.

Industry Welcomes Govt’s Move To Ensure Solar as a Sunrise Sector of India

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The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved Phase II of grid-connected rooftop solar systems to achieve a cumulative capacity of 40,000 MW from rooftop solar projects by 2022. This itself is getting considered as a major breakthrough for the solar industry. According to the policy document, the programme will be implemented with total Central support of ₹11,814 Crore, with the government extending financial assistance of 40 per cent for 3 kW capacity and 20 per cent beyond 3kW up to 10 kW.

Now, this landmark decision is getting positive feedback from the industry as the industry is looking forward for an exciting year ahead from the perspective of solar energy’s acceptance and implementation at the user level.

Mr Praveer Sinha, CEO & MD, Tata Power shared his outlook and possibility regarding the latest positive development in the rooftop solar industry, and while welcoming this decision he said, “The approval for the second phase of grid-connected rooftop solar (RTS) programme will give a big push for achieving a total targeted installation of 40 GW of rooftop solar (RTS) by 2022. The second phase that seeks to extend financial support of between 20-40% of the cost depending on the size of the installation is a crucial element of the policy decision by the government announced today.  Heavy front-ended investment of RTS has been the single biggest challenge holding back its deeper penetration, particularly in rural and semi-urban parts of the country. RTS not only offers a cleaner source of energy to the masses but also helps in reducing transmission and distribution losses in the Indian power sector, which is currently around 20%. The latest policy initiative that offers financial assistance for Group Housing Societies and Residential Welfare Associations should also help better adoption of RTS among residential power consumers, which is only around 9% to the total RTS installed in the country (against almost 70% by industrial and commercial users). As a leading in RTS service provider, with nearly 3 decade of experience (since 1991), the company’s services are already available in Delhi, Mumbai, Ajmer, Ahmedabad, Bangalore, Hyderabad, Kochi, Chandigarh and Bhubaneswar with a cumulative installation of over 250 MW and plan to expand across India in FY20.”

According to the proven industry data, India’s solar sector is growing at a super fast pace but the rooftop segment has been slow off the blocks. Nearly 200 million people in India either do not have power or have erratic power and solar rooftop solutions have the potential to address this problem even in the remotest parts of the country.

Over the years, the cost of setting up of one kW rooftop solar, which was about ₹90,000 has now come down to about ₹50,000. And with the inherent advantage of using this power for 25-35 years, it is a compelling proposition. This cost control is an ultimate attraction for the end users.

Commenting on growing need of alternate energy and solar industry’s potential in India, Himanshu B. Patel, Founder Chairman of Triton Solar stated, “Solar is the way forward. When we look at the size and scale of the challenge of power supply and demand, we can make out that India has to follow the global trend of alternate energy adoption. Solar is the only valid and proven alternative for the same. We welcome the Government’s commitment towards ensuring the smooth adoption of solar. The recent cabinet committee’s announcement is a positive decision in this direction. At Triton, we always focused on creating robust, innovative and affordable solutions which are ensuring solar adoption at the user level.”

Himanshu B Patel, Triton Solar,

Himanshu B Patel, Managing Director,  Triton Solar

New Jersey, US -based Triton Solar produces high quality, highly efficient solar cells, flexible lighting and batteries. Triton is the only company in the world that provides hybrid solar panels that not only generate power but also store it for use at a later time. “The key innovation of the product is the fact that our solar panels stores power and supply the stored power when needed. Our nanotechnology is applied to printed lighting and batteries, which can be customized for multiple applications. For lighting, our hardware features the first printable lighting available for commercial use. Triton Solar serves small business owners, educational institutions, and national governments to help with their “Go Green” project management needs.  Our audience includes anyone who needs power or lighting. Demand for highly efficient, sustainable energy will push our product past our competitors,” says Mr. Patel.

Solar is absolutely an action-packed area for the industry. Innovation is happening at various levels. Triton Solar is setting examples of innovation and new age technologies that are transforming the solar consumption in India as well as across the world.

Commenting on the role of innovation and innovative technologies that are transforming the Indian In our bid to innovate, we used our unique printed solar panel technology and designed a robust working model which can be installed at the customer premise. The entire solution will be offered in a package of service which will ultimately at affordable cost considering a strong mass appeal.”

Solar industry experts also stress that there is a need for improved regulations for dispute resolution giving more comfort to developers, financiers and consumers of solar given the long duration of contracts under the operating expenses (OPEX) model, which varies from 10 to 25 years.

 

 

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