India has been steadily expanding its green energy infrastructure to lessen its reliance on fossil fuels, which not only have an impact on the geopolitical environment and are therefore harmful to energy security but also significantly increase the nation’s carbon footprint.
According to the India energy page, India has 300 sunny days per year on average, and 12.5% of its landmass is ideal for solar energy production. The installed total solar capacity has increased 18X since 2014 and is expected to grow at a 35% CAGR through 2026, making solar energy one of the government’s priority sectors.
With the ambitious goal of producing 100GW of solar power by the end of this year, India has many notable solar projects, including the first solar-powered airport in the world in Kochi, the largest floating solar power plant currently under construction in Omkareshwar Dam, Madhya Pradesh, one of the largest solar plants in the world in Bhadla, Rajasthan, etc.
According to a report released by think-thank Ember, the Centre for Research on Energy and Clean Air, the effective implementation of this green energy policy is now paying off financially as well. In the first half of 2022, solar generation reportedly saved about $4.2 billion in fuel costs. About 9.4 million tonnes (mt) of coal were substituted by solar infrastructure, relieving pressure on the already stressed domestic supply.In the report’s analysis of the expansion of solar energy, it was discovered that five of the top ten economies with solar capacity—China, Japan, India, South Korea, and Vietnam—are now located in Asia. From January to June 2022, the contribution of solar generation in seven important Asian nations—China, India, Japan, South Korea, Vietnam, the Philippines, and Thailand—avoided potential fossil fuel costs totaling about $34 billion.
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