In India, it is expected that the population of the country will grow by 20% in the next 3-5 years. With such growth in population, there is definitely going to be a burden on the resources such as electricity, water, etc.
Do we have sufficient resources and ways to extract the resources to meet the increasing demand? It is very difficult to answer the question with full confidence. Therefore, India as a country has started investing in ways to harness the natural resources available. One such resource is solar energy.
But one may ask why countries are talking about solar energy now in the 21st century.
- Global warming is causing climate change on earth and fuels are one of the factors.
- The cost to produce electricity from solar energy has come down significantly by almost about 70% as compared to the cost of producing electricity in 2009.
- Rising demands and risk of oil or coal resource availability to meet the demand.
Because of the above-stated reasons, not only India but most of the developed and developing countries are talking about solar energy.
If till this point it is clear, then how China is influencing the goals of India to produce electricity from solar energy?
One of the major raw materials needed to produce solar panels is polysilicon and China alone controls roughly 60% of the material all across the world. Because of this reason, 80% of the material which is used to build a solar panel is coming from China.
And such dependency on other countries is not beneficial as China can increase rates or whatsoever considering India's relations with China. There India has to take steps to control such imports from China. Currently,
- The government of India is disincentivizing companies that import solar equipment from China. Hence, encouraging companies to make it in India.
- And on the other hand, it incentivizes the domestic manufacturing of solar equipment in form of tax incentives, and a lot more.
Will India achieve its goal of becoming one of the key players in producing the majority of electricity needed using solar energy? Let us know your thoughts in the comment section below.