How Solar Sector Can Spell Social Reform Through CSR

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Photo courtesy: Vikram Solar

Corporate giants and business entities are pitching social reforms to the countries at a time when finding a convenient and fulfilling lifestyle for the common man has become the primary objective. Corporate entities facilitating technological growth, employment, and economic improvement, have become forbearers of change in our society today. The social awareness urging to illustrate an elaborate plan focusing individual growth in our society has taken a more tangible form as Corporate Social Responsibility (CSR). Continue reading

India’s rise to 3rd Largest Solar Market in 2017: What it entails for the Exchequer?

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Considering the fact that India is one of three countries that mutually contribute to more than 70 per cent of the global CO2 emissions, the step towards green energy transition was an imperative, and decisive action indeed. Besides saving the climate, India stands to save enormously from fossil fuel expenditure with the success of green energy revolution. By championing solar, India not just initiated an industrial reform, but positioned itself in the global energy market, standing to generate profit as the world phases out fossil fuel. Continue reading

China’s Solar Top Runner Program and What India Can Learn From It!

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India’s recent success in reaching 10 GW of on-grid solar capacity has made the 100 GW by 2022 target a bit closer than before. India has done an incredible job improving, implementing, and acting on- mandating solar installation in Government buildings, net metering, leadership in International Solar Alliance, provisioning viability gap funding, raising tax free solar bonds, offering long tenure loans, aggressive ‘Solar Park’ development and other initiatives, generating momentum which helped India add 5 GW capacity in 2016 itself.  Continue reading

RENEWABLE ENERGY CAN USHER A NEW ERA OF JOBS AND ECONOMIC TRANSFORMATION

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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

Financing and Auction of Solar Projects in India: A Reality Check

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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