India expands solar energy programs. News from Bengaluru, India announces a National Mission on Solar Energy that will include Indian economic and industrial development to solar energy efficiency. There was also a separate initiative on increasing energy efficiency as well. These projects and funding will be announced at a later date according to leading Indian officials. The announcement of the National Action Plan in New Dehli comes as India is participating in the UN meetings on stopping global warming and climate change.
India Makes Big Push Into Solar Energy
Prime Minister Manmohan Singh said that India must create a graduated shift from industrial and economic activity that is based of non renewable fossil fuels to one that is bases on renewable sources of energy. In India the sun is at the center of Indian culture as it should be, the sun is the original source of all energy and life. Singh said that India seeks to develop solar energy as a reliable source of abundant clean energy to fuel the economy and transform the lives of the people in India.
Solar Energy Initiative Goal - Produce 10% Power In India
The goal of the solar energy initiative in India is to create 10 percent of power and energy from solar over the next few years. Officials in India said that the solar energy initiative will require government financial and institutional support along with private investment. India has formal a federal branch that is focused on new and renewable energy sources. In 2007, venture capital of about $3 billion was invested in renewable energy. Of this total investment, about 10 percent was invested in clean technology start up companies. Currently India ranks fifth in the world for renewable energy. The goal for India is to generate 200 gigawatts by 2030. To make this happen would require an investment of over $200 billion dollars.
India currently consumes nearly 2.7 million barrels of oil every day. The majority of it is imported. Most analysts predict that this number would need to double by the year 2030. You can see why generating power in India would be a priority. Several companies are looking at creating alternative energy sources such as wind, bio fuels and solar energy.
Investing In A Solar Energy Future
Private companies and investors have put up nearly $20 billion dollars to create plants in India to make solar panels and photovoltaic cells. India to this date does not have a semiconductor manufacturing facility in operation. The jury is still out to whether or not the country does in fact need one. The Indian government recently announced they will have incentives for manufacturing solar cells and solar panels.
This announcement has created a frenzy of announcements by companies looking to join the nascent solar industry there. EDA veteran Prabhu Goel and his company Signet Solar has announced an ambitious solar energy plan. He has made an investment of over $2 billion dollars over the next ten years to set up three solar plants in India. Signet currently operates a plant in Germany and expects to leverage their expertise in India in ramping up plant production.
Stopping climate change will take more than just an effort from the United States. It will truly be a global effort. These are interesting times that we live in. Never before has a cause really required a global effort. Hopefully we can all put our differences aside and make a difference in the health of the planet.
