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Solar efficiency, cost cuts vital for energy transition: Pralhad Joshi
POWER & RENEWABLE ENERGY

Solar efficiency, cost cuts vital for energy transition: Pralhad Joshi

08 Nov 2024 2 Min Read CW Team
Union Minister for New and Renewable Energy, Pralhad Joshi, emphasised the global focus on advancing solar technology to achieve significant cost reductions and efficiency gains during a conference on clean energy transition. As President of the International Solar Alliance (ISA), he remarked, “The world is united in the energy transition, harnessing global efforts.”

Joshi highlighted the need for more efficient solar technology, stating, “Traditional solar panels typically convert only 15-20% of sunlight to electricity, but innovations like bifacial panels and solar paint are increasing this rate.” He stressed that improving efficiency and reducing costs are essential to make solar energy affordable and accessible worldwide.

He also noted India’s progress, with solar tariffs dropping by 76% over the last decade. Tariffs for grid-connected solar plants have fallen from Rs 10.95 per unit in FY 2010-11 to Rs 2.60 in FY 2023-24, making solar energy more affordable for households and businesses.

Battery storage innovations were also discussed, with the minister underscoring their role in stabilising solar power supply. “Battery storage advancements allow excess energy to be stored for use on cloudy days or at night, enhancing grid reliability,” he stated.

Joshi outlined job creation potential within India's "PM Surya Ghar Muft Bijli Yojana," projected to create 1.7 million jobs in installation, manufacturing, and maintenance. “Around 325,000 youth are being trained in rooftop solar installation, empowering them to contribute to the solar sector,” he said. He also discussed the government’s Rs 8 billion investment in model solar villages across districts, providing each village with Rs 10 million for rooftop solar systems, which will improve access to clean energy and support solar-powered lighting, water systems, and agricultural pumps in rural areas. (ET)

Union Minister for New and Renewable Energy, Pralhad Joshi, emphasised the global focus on advancing solar technology to achieve significant cost reductions and efficiency gains during a conference on clean energy transition. As President of the International Solar Alliance (ISA), he remarked, “The world is united in the energy transition, harnessing global efforts.” Joshi highlighted the need for more efficient solar technology, stating, “Traditional solar panels typically convert only 15-20% of sunlight to electricity, but innovations like bifacial panels and solar paint are increasing this rate.” He stressed that improving efficiency and reducing costs are essential to make solar energy affordable and accessible worldwide. He also noted India’s progress, with solar tariffs dropping by 76% over the last decade. Tariffs for grid-connected solar plants have fallen from Rs 10.95 per unit in FY 2010-11 to Rs 2.60 in FY 2023-24, making solar energy more affordable for households and businesses. Battery storage innovations were also discussed, with the minister underscoring their role in stabilising solar power supply. “Battery storage advancements allow excess energy to be stored for use on cloudy days or at night, enhancing grid reliability,” he stated. Joshi outlined job creation potential within India's PM Surya Ghar Muft Bijli Yojana, projected to create 1.7 million jobs in installation, manufacturing, and maintenance. “Around 325,000 youth are being trained in rooftop solar installation, empowering them to contribute to the solar sector,” he said. He also discussed the government’s Rs 8 billion investment in model solar villages across districts, providing each village with Rs 10 million for rooftop solar systems, which will improve access to clean energy and support solar-powered lighting, water systems, and agricultural pumps in rural areas. (ET)

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