In a recent report, The World Bank said that solar power is one of the key elements of its Country Partnership Strategy with India. The organization said it will circulate the findings of the study to central and state governments to spread an understanding of the issues and analysis presented.
The Bank said in a statement that in just three years India has made impressive strides in developing its abundant solar power potential. It has added capacity at a quick pace and managed to reduce the costs of solar energy to around $0.12 per kWh for solar photo voltaic (PV) and $0.21 per kWh for Concentrated Solar Power (CSP). These prices mean India is one of cheapest places in the world for grid-connected solar power.
India needs to increase its energy capacity as more than 300 million Indians lack access. Besides, energy shortages hamper industrial growth. Solar power can help India produce clean energy and contribute to reducing emissions per unit of GDP by 20-25% by 2020, over 2005 levels.
The solar drive kicked off in January 2010 when the country launched the Jawaharlal Nehru National Solar Mission (JNNSM) as one of the eight missions under the country’s National Action Plan for Climate Change. The Mission’s aim was to deploy solar power on a large scale, and place India as a leading hub of solar manufacturing as well as R&D.
To read the report on India’s solar power efforts, follow the link.
