Solar Energy Industry Indi Problems And Prospects

installing solar panels are changing tastes and preferences of consumer. As Energy Sage (n.d.) stated,

The state government of Gujarat proposed a massive project to the central government of India in the year 2010. The project was to build the biggest solar park in Asia. The project was approved and the project is in commission from the year 2012. This project is part of many planned projects that would help the country achieve its 2020 green goal.

Solar Resources are not only affecting the GDP for power, but in other areas as well. Over a million residential water heaters are replaced each year and more are being replaced by using solar power. The solar power is given an opportunity in use solar power as the primary heating source for homes and commercial buildings. Which can increase the amount of GDP that is spend, yearly on solar and a large share of the energy market.

Similarly, India is planning to boost solar power from near zero to 20 giga watts by 2020, part of an ambitious $19 billion, 30-year plan to increase the share of renewables in that country’s energy mix.

The increase in oil prices, the depletion of fossil fuel, and increase in consumption of energy has led to finding an alternate source of electricity generation through sustainable energy resources. The sun was humankind's first source of power, and with a little effort to make it more efficient, it may be the only source of energy we may need for the future. Among various sustainable sources, solar energy is the fastest growing,

* With the effect of carbon tax set to increase the cost of other energy sources, solar power will become a more viable option in the future

Solar power is not consistent or reliable enough to be the only option for power. This technology relies totally on the sun so certain days we will be able to produce more power than others and at night we might not be able to produce any. Which is why we will not be able to completely sever the tie to conventional power generation. There has to be a method available to generate enough power to meet demand without available sunlight. Although as technology progresses we may soon be able to generate power from solar sources 24 hours a day. Modern solar power towers are being designed to store excess heat transfer medium underground during the day as its heated and recycling it at night to continue to generate steam for power production (Mills, 2004). But even with this ability we will not be able to go solely to solar power but it can still supplement existing power and drastically reduce the country’s carbon

In addition, solar energy operational costs are manageable. It is free from monthly charges compared to conventional sources of energy. Solar energy does not require raw materials such as oil and coal, and once the panels are built, there will be no monthly charges. In addition, the prices of fossil fuels are increasing day by day, and this means conventional energy will be very expensive. Solar energy will remain the most capable world’s future power supply because, it is cost effective once the plants are built, and there will be no transport costs like for conventional energy sources. Therefore, solar energy is cost-effective, and will help in future energy supply, as the maintenance cost is affordable, as long as they are installed properly, and are working efficiently ( Hans, 2012). Furthermore, with the improvement and advancement of technology, it will increase its efficiency, and cost of production thus, making it more cost effective and the world’s best

Sure, solar cells are a tremendously active research area and there are improvements being made every day. But even taking this into account, it is not conceivable that solar cells, even when pushed to the limit, will replace conventional sources of energy in even the medium term. Compare the ambitious 20,000 MW goal for 2020 with the overall target of 62,500 MW for 2012 and the scales are clear. While solar energy could prove to be significant locally to states like Gujarat and Rajasthan, on a national level, solar energy cannot be our main source of energy for the next 20 years or so.

Nuclear energy has given us the power to produce more weapons than to produce things that can make the world a better place to live in. We have to become more careful and responsible while using nuclear energy to avoid any sort of major accidents. Nuclear Power Plants are a big target for terrorist and attacks. Solar Power has its disadvantages just as well as Nuclear Power does. “Many nuclear power plants were situated next to the ocean to have ready access to huge volumes of water, and sometimes they were built on land that was not very high above mean sea level.” (Natalie Kopytko)”. The cost of purchasing and installing solar panels always become the first disadvantage when the topic of solar energy comes up. It can take up to 10 to 15 years to actually invest on the solar panels. The location of solar panels is of major importance for generation of electricity. Houses which are covered by trees and landscapes

The future of solar energy technology is poised for significant growth in the 21st century (Union of Concerned Scientists). It has been said that more

However, the research has also suggested that solar technology has demonstrated an increase of approximately 39% in production and investment in the last decade and is growing faster than any other renewable technology (Zweibel, 2010; Lloyd & Forest, 2010). Still, the research concluded that the limited availability of natural resources, which would be used to manufacture SETs, could restrict the development of solar technology as well as other renewable resource technologies. However, given that solar technology has seen an increase in research and development, solar energy could establish an opportunity for expanding our electricity supply system without overconsuming on nonrenewable resources.

Solar energy and its use isn’t new to the world. It has been used by various societies beginning from 7thCentury B.C, when the sun’s heat was concentrated by glass and mirrors to light fires. Today, we have everything from solar-powered buildings to solar-powered vehicles. By and large solar technology has some environmental, economic, psychological and ethical implications for our society. Actions taken by companies and individuals to increase the use of solar technology will create good local jobs, improve our environment and reduce our dependence on foreign oil while doing what’s ethical and moral for our society.

This outline is an examination for all aspects that need to be considered before starting a business for installing solar panel. It delivers microeconomic elements such as supply and demand in the market, elasticity, estimated cost analysis and determinants of the supply and demand of solar panel market.

Greening energy sector in India has started through the implementation of various policies and acts in energy sector. The electricity Act which was enforced in 2003 for the generation of renewable energy, providing sufficient support and facilitating its purchase was the first formal process in promoting clean energy (solar energy in India). Other energy policies and acts like National Tariff policy 2006, National rural electrification policies 2006 and semiconductor policy 2007 have provided ground for the establishment of standalone off grid renewable energy and also subsidised manufacturing of solar panels (solar energy in India).