Solar Power has come a long way from Rs 50 per unit that it cost a couple of years ago. It was ten times that conventional power cost today. It is still comparatively expensive, but companies see a practical chance to bring down the cost of this alternative source of power to under Rs 10 per unit over the next couple of years.
Why Solar is the solution?
-It is clean, green
-Fuel from sun is free, great for country’s energy security
-Low development period of less than 6 months. For nuclear power, it is 10-12 years; for thermal and hydro power is 4-6 years
-After the Japan earthquake and tsunami, the world is looking beyond nuclear
-Ideal solution for peaking power needs in India
Is Solar power expensive?
-Yes! All components- polysilicon, glass, inverters- are imported
-Small-scale projects, less than 1000 MW per year, make local manufacturing unviable
-Limited technical skills; design and project engineering skills are imported
-High cost of debt financing solar projects; capital intensive- 1 MW costs Rs 12-14 crores; 70% is financed at 11-13%
Good news is that costs will come down fast, how?
- Prices of Polysilicon- raw material for cells- have fallen by over half in last five years
- Alternative materials like Copper,Iridium, Gallium and Selenium (CIGS) that are technically more efficient are also in use
- Glassmakers in India warm up to Solar industry needs as demand grows; local manufacturing will cool the prices
- National Solar Mission gives a boost to Solar in India
- 3-5 years Solar power will be under Rs 10 per unit
REF: Economic Times
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