India has been making significant strides in the renewable energy sector in recent years, with a particular focus on solar power. The country has set ambitious targets for itself, including achieving 175 GW of renewable energy capacity by 2022. To achieve this goal, India has been working on various initiatives, including the development of domestic solar module manufacturing capabilities.
CleanTechnica, a leading clean energy news website, recently reported that India is planning to achieve solar module self-sufficiency by 2026. This is a significant development for the country, as it currently relies heavily on imports to meet its solar module requirements.
Solar modules are an essential component of solar power systems, as they convert sunlight into electricity. India’s solar power capacity has been growing rapidly in recent years, with the country adding over 10 GW of solar power capacity in 2020 alone. However, the majority of the solar modules used in these projects are imported from countries like China and Malaysia.
India’s plan to achieve solar module self-sufficiency is part of its larger goal of promoting domestic manufacturing and reducing its dependence on imports. The government has been offering various incentives and subsidies to encourage domestic solar module manufacturing, including a production-linked incentive (PLI) scheme that offers financial incentives to manufacturers.
The PLI scheme is expected to attract investments of around $6.5 billion and create around 200,000 direct and indirect jobs in the solar manufacturing sector. The government has also announced plans to set up a dedicated manufacturing zone for solar equipment in the state of Gujarat.
India’s push for domestic solar module manufacturing is not just driven by economic considerations but also by strategic concerns. The country’s reliance on imports for critical components like solar modules makes it vulnerable to supply chain disruptions and geopolitical tensions.
By achieving solar module self-sufficiency, India can not only reduce its dependence on imports but also strengthen its position as a global leader in renewable energy. The country has already made significant progress in this regard, with its solar power capacity now ranking fifth in the world.
India’s plan to achieve solar module self-sufficiency is a positive development for the country’s renewable energy sector. It will not only create jobs and boost the domestic manufacturing industry but also help India achieve its ambitious renewable energy targets. As the world transitions towards a cleaner and more sustainable future, India’s efforts to promote domestic solar module manufacturing will serve as a model for other countries to follow.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- EVM Finance. Unified Interface for Decentralized Finance. Access Here.
- Quantum Media Group. IR/PR Amplified. Access Here.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Source: Plato Data Intelligence.