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From being unheard of, to becoming the most preferred source of electricity, solar power has certainly come a long way. It’s growth has surged in the recent years, which in turn has led to a drop in the tariffs, project and equipment costs, and led the government to become increasingly aware of its potential. The support from the government and the severe energy crisis has resulted in bigger and more extensive solar power projects, making India one of the most cost effective destinations to set up more such projects. People are beginning to see the benefits from a financial perspective in making the shift to solar energy, and this phenomenon is set to grow. Commercial establishments and industries too are heading toward the ‘sun’. There are some glitches still – the energy produced from the sun can efficiently run low intensity appliances such as fans, LED TVs, lights, and other such appliances. However, normal televisions, air-conditioners, geysers, microwaves, and others, cannot run on solar energy still – a hybrid solution is required. ‘Green’ enthusiasts are consistently looking for ways to replace traditional electricity with solar power, and it seems that it will soon fall in place.
In the last couple of years, India seems to have caught on to the ‘strength’ of the sun, and therefore made the necessary adjustments, resulting in the stabilization of prices. However, everyone must think in the same direction, or this stability could be threatened. India’s competitiveness in terms of cost has improved in the last 5 years and tariffs have dropped from Rs.15-17 per KWH to a mere Rs.4-5 per KWH. The scale of projects and solar plants is becoming increasingly larger, and hence the solar prices in India are set to become even more affordable. It helps that our country has a tropical climate, with harsh sunlight! Earlier projects for solar plants were a mere 50MW, but now the projects are scaling to 100-200MW, which is a matter of real interest for developers and investors, across the globe. The lowest tariff quotation has come in from a solar energy company in Finland at Rs.4.34 per KWH for a 70MW solar plant, in collaboration with the National Thermal Power Corporation (NTPC) at Bhadla Solar Park. India is speedily on its way to becoming one of the world’s largest hubs for solar power. It already has to its credit the first solar-powered airport at Kochi in Kerala, the largest 750-mw Rewa Ultra-Mega Solar Power Project in Madhya Pradesh, and many other gigantic projects.As the production of solar energy rises to reach 100GW, it would make sense for a large consumer durable goods companies to launch DC electric products in India.