The rising tide of growth that Indian solar sector resembles has promised to shift the weight of poverty, unemployment and social-cultural asymmetrical growth from India’s shoulder, willing an energy rich future into reality. Quite decisively, Indian Government has devised plans for leveraging this opportunity.
Continue reading Solar Can Run On Collaboration Not Competition
Our cities are the physical embodiment of the largest and definitely, the most complex social engineering feat we have ever accomplished, symbolizing our social, political, economic, and cultural growth. From the very beginning, cities have been the centre of development, welcoming change, offering opportunities, and spreading (social, economic, political, and now technological) growth throughout the world. With this continued technological growth, the idea of smart cities came to life, adding transparency and perfection to the image we now have for our future cities. Acceleration of innovation in technology has promised the enhanced quality of life through IT interconnectivity, personal and social development.
Continue reading Investing To Make Cities Smarter, Is Investment for a Secure Future
Even without covering the plethora of reasons that vouch for immediate renewable energy (especially solar) implementation as the mainstream energy source, we can build a case on the inarguable fact that ‘fossil fuels are non-renewable’. And since mankind has only begun building towards a perfect, sustainable, and progressive society, being dependent on an energy source that is limited (fossil fuel depletion predictions range from 50 to less than 150 years), doesn’t seem a smart choice!
Continue reading Clash of Solar and Fossil Fuel: Why Solar Is Winning
The world is preoccupied today! We are too engrossed thinking about the minute details of our lives, trying to make everything better, and more convenient. However, in the process, we seem to have missed how parts of our social structure are falling apart. The population is rising more than ever (expected to reach 7.5 billion in 2017), and our social structure is failing to substantiate a promising life for the growing community. Unemployment has become a mammoth issue. In 2016, 197.7 million people globally, 38.6 million people in developed countries, and 143.4 million people in emerging countries were unemployed. And in 2017, the unemployment rate is expected to rise (5.7 to 5.8 per cent) by another 3.4 million. A grave economic situation, which is ballooning with no real solution in view!
Continue reading RENEWABLE ENERGY CAN USHER A NEW ERA OF JOBS AND ECONOMIC TRANSFORMATION
India has made a quantum leap reaching approximately 9 GW in 2016 from a meagre 10 MW in 2010. Government departments and private players working in unison has helped in scaling such an achievement. However, intense competition has led to tariff wars, resulting in very low tariff rates. This trend dates back to December 2011 when a foreign company bid Rs. 7.49 for projects under NSM. 6 years later we are standing at Rs. 3.64 bid for 750 MW (250 MWx3) solar project in Rewa, Madhya Pradesh. Although, low solar energy tariff firms up the hope of reaching countrywide solar grid parity with conventional energy, bidders are finding it tough to get funding. Banks and private lenders are inching away from financing solar projects in India due to lower tariffs, seeing it as a cost risk. To explain the situation in a single sentence, we can say that low tariff rates in the solar industry are introducing high cost financing issues to the developers and industry players.
Continue reading Financing and Auction of Solar Projects in India: A Reality Check