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New Delhi: The Union Minister for New and Renewable Energy and the president of the International Solar Alliance (ISA), Pralhad Joshi, stressed on the need to improve the efficiency of solar technology while maintaining cost-effectiveness at a high-level conference on new technologies for clean energy transition. Speaking on the third day of the 7th General Assembly of ISA on Tuesday, Joshi said, “Traditional solar panels convert about 15 to 20% of the sunlight into electricity. But innovations such as bifacial panels, (which has) solar cells on both sides, are pushing this figure higher. New technologies are significantly enhancing the efficiency of the solar panels.”
“These advancements make the solar installation more practical and cost effective, allowing greater energy production from the same amount of sunlight. Second is, cost reduction. We all will agree that affordability is essential for the widespread application if we are to meet the global energy demands,” said Joshi.
Elaborating on India’s journey of bringing down the cost of solar power, the minister said, “The cost of the solar technology has been decreasing steadily, making it more accessible and we need to do more and more accessible. Improved manufacturing process and materials have lowered the price of solar panels, enabling more households and businesses to invest in solar energy. In India, the government, led by Prime Minister Shri Narendra Modi, has brought about a 76 percent decrease in solar tariff.”
“For grid-connected solar plants, tariffs have been reduced from Rs 10.95 during FY2010-2011 to Rs 2.60 during FY23-24. This is a 76 percent decrease, as I already mentioned.
“As solar energy generation can be intermittent depending on the weather and the time of the day, new storage technologies are very, very critical. Innovations in battery storage allow the excess energy generated to be stored for the use during the cloudy days or at the night. Energy storage is the key to securing the constant solar energy supply to the power systems,” said the ISA president.
“While discussing the future of the solar, we need to keep this smart approach in mind. We have to not only maximise the efficiency but also contribute to a more sustainable energy ecosystem,” he added.
The minister added that the renewable energy sector also has great potential for job creation. Referring to India’s PM Surya Ghar Muft Bijli Yojana, he said that the scheme has the potential to create 1.7 million jobs across segments in solar industry, like manufacturing, installation and maintenance. “In fact, India will also be training more than 300,000 youths, that is 3.25 lakh youths, in rooftop solar installation. This training will cover the installation and maintenance, enabling the young people to pursue careers in the solar industry and promoting entrepreneurship in their communities,” said Joshi.
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