Harnessing the Power of the Sun: India's Solar Revolution
June 10, 2024, 9:40 pm
Location: India, Karnataka, Bengaluru
Employees: 11-50
Founded date: 2009
In the scorching heat of India's summer, the power demand rises like a blazing inferno. But fear not, for the sun, wind, and thermal energy come to the rescue like valiant knights in shining armor. These renewable sources have played a crucial role in meeting India's unprecedented power demand this summer, a feat that deserves a standing ovation.
On a day when the daytime peak power demand soared to a record-breaking 250 GW, renewables stepped up to the plate, contributing 15% of the total power generated. The Ministry of Power (MoP) highlighted the significant support provided by solar energy during sunlight hours and wind energy during non-solar hours in fulfilling this demand. Meanwhile, thermal generation, with coal as the primary contributor, accounted for 176 GW of the peak demand.
Renewables, including solar and wind, added 891 MU and hydroelectricity contributed 541 MU to the power generated. South India led the charge, generating 27.28% of the total renewable energy, while North India chipped in with 15.12%. Solar energy production reached 421.19 MU, with Rajasthan, Gujarat, and Karnataka shining bright as the top contributors. Similarly, wind energy generation totaled 437.38 MU, with Gujarat, Tamil Nadu, and Rajasthan blowing away the competition.
In the North, peak demand peaked at 86.78 GW, while in the West, it reached 74.85 GW. The day before the peak demand record, renewables generated 1,048 MU out of the 5,814 MU generated from all sources. The Ministry of Power attributed the increased demand to weather-related loads and growing industrial and residential consumption.
Meeting the peak demand of 250 GW was no small feat, but with the strategic implementation of Section 11 of the Electricity Act, coal- and gas-based plants operated optimally under government direction. The ministry emphasized the coordinated efforts of stakeholders in the power sector, ensuring enhanced generation capacity, efficient resource allocation, and policy implementation.
Despite the surge in renewables, thermal power plants showcased their capacity and operational efficiency, underscoring their importance in India's energy landscape. In anticipation of higher energy demand, the government had implemented various measures to ensure uninterrupted power supply during the summer months.
But the solar story doesn't end there. The first quarter of 2024 witnessed a remarkable 28.2% year-over-year decline in the average cost of large-scale solar power projects in India. This decline, attributed to a significant reduction in module prices, marks the fifth consecutive quarter of diminishing costs. With Q1 2024 recording the lowest quarterly average project cost, the cost of capital has been positively impacted, boosting the internal rate of returns for large-scale solar projects and driving capacity additions.
During Q1 2024, India achieved a significant milestone by adding over 10 GW of solar capacity, the highest quarterly installation to date. The average selling price of Chinese monocrystalline passivated emitter rear contact (mono PERC) modules plummeted, while Indian mono PERC modules also saw a decline. Imports of solar cells and modules exceeded $2 billion in Q1 2024, with oversupply in China contributing to reduced prices for both Chinese and Indian modules.
Looking ahead, the average large-scale project costs may see an uptick starting Q2 2024 due to the reintroduction of the Approved list of Models and Manufacturers (ALMM) orders on all solar projects by the Ministry of New and Renewable Energy. This measure aims to prevent cheaper module imports, potentially impacting project costs in the coming quarters.
In the midst of all this solar revolution, Tata Steel is also making waves by discussing decarbonization plans with the Dutch government. The Dutch Parliament has urged the government to negotiate support terms, with funding of up to ?3 billion on the table to facilitate the green transition of Tata Steel's IJmuiden plant. This move underscores the growing importance of sustainability and environmental consciousness in the industrial sector.
And let's not forget about Kashi, set to introduce the world's third and India's first urban transport ropeway. Operations are expected to commence during Dev Diwali, offering seamless travel and alleviating traffic congestion in Varanasi. With equipment sourced from Switzerland, this project represents a leap forward in urban transport innovation.
As the sun sets on another scorching summer day in India, the power of solar energy shines brightly, illuminating the path towards a sustainable and renewable future. The winds of change are blowing, and the time to harness the power of the sun is now. India's solar revolution is in full swing, and the future looks brighter than ever.
On a day when the daytime peak power demand soared to a record-breaking 250 GW, renewables stepped up to the plate, contributing 15% of the total power generated. The Ministry of Power (MoP) highlighted the significant support provided by solar energy during sunlight hours and wind energy during non-solar hours in fulfilling this demand. Meanwhile, thermal generation, with coal as the primary contributor, accounted for 176 GW of the peak demand.
Renewables, including solar and wind, added 891 MU and hydroelectricity contributed 541 MU to the power generated. South India led the charge, generating 27.28% of the total renewable energy, while North India chipped in with 15.12%. Solar energy production reached 421.19 MU, with Rajasthan, Gujarat, and Karnataka shining bright as the top contributors. Similarly, wind energy generation totaled 437.38 MU, with Gujarat, Tamil Nadu, and Rajasthan blowing away the competition.
In the North, peak demand peaked at 86.78 GW, while in the West, it reached 74.85 GW. The day before the peak demand record, renewables generated 1,048 MU out of the 5,814 MU generated from all sources. The Ministry of Power attributed the increased demand to weather-related loads and growing industrial and residential consumption.
Meeting the peak demand of 250 GW was no small feat, but with the strategic implementation of Section 11 of the Electricity Act, coal- and gas-based plants operated optimally under government direction. The ministry emphasized the coordinated efforts of stakeholders in the power sector, ensuring enhanced generation capacity, efficient resource allocation, and policy implementation.
Despite the surge in renewables, thermal power plants showcased their capacity and operational efficiency, underscoring their importance in India's energy landscape. In anticipation of higher energy demand, the government had implemented various measures to ensure uninterrupted power supply during the summer months.
But the solar story doesn't end there. The first quarter of 2024 witnessed a remarkable 28.2% year-over-year decline in the average cost of large-scale solar power projects in India. This decline, attributed to a significant reduction in module prices, marks the fifth consecutive quarter of diminishing costs. With Q1 2024 recording the lowest quarterly average project cost, the cost of capital has been positively impacted, boosting the internal rate of returns for large-scale solar projects and driving capacity additions.
During Q1 2024, India achieved a significant milestone by adding over 10 GW of solar capacity, the highest quarterly installation to date. The average selling price of Chinese monocrystalline passivated emitter rear contact (mono PERC) modules plummeted, while Indian mono PERC modules also saw a decline. Imports of solar cells and modules exceeded $2 billion in Q1 2024, with oversupply in China contributing to reduced prices for both Chinese and Indian modules.
Looking ahead, the average large-scale project costs may see an uptick starting Q2 2024 due to the reintroduction of the Approved list of Models and Manufacturers (ALMM) orders on all solar projects by the Ministry of New and Renewable Energy. This measure aims to prevent cheaper module imports, potentially impacting project costs in the coming quarters.
In the midst of all this solar revolution, Tata Steel is also making waves by discussing decarbonization plans with the Dutch government. The Dutch Parliament has urged the government to negotiate support terms, with funding of up to ?3 billion on the table to facilitate the green transition of Tata Steel's IJmuiden plant. This move underscores the growing importance of sustainability and environmental consciousness in the industrial sector.
And let's not forget about Kashi, set to introduce the world's third and India's first urban transport ropeway. Operations are expected to commence during Dev Diwali, offering seamless travel and alleviating traffic congestion in Varanasi. With equipment sourced from Switzerland, this project represents a leap forward in urban transport innovation.
As the sun sets on another scorching summer day in India, the power of solar energy shines brightly, illuminating the path towards a sustainable and renewable future. The winds of change are blowing, and the time to harness the power of the sun is now. India's solar revolution is in full swing, and the future looks brighter than ever.