Friday, November 20, 2009

India Investing a Fortune on Solar Energy: An Impossible Dream?

This is a very good news for anyone who is interested about renewable and clean energy. Right now, India hardly produces any energy at all from Solar Power. However, things will change in 2022 and by that time, the country is aiming to produce 20 gigawatts. Of course, it needs massive investment and goodwill from the government. Well, the goodwill is there but I am doubtful about the investment. It will require $20 billion in the next 12 years. I wonder from where the money would come?
I just hope that it does not become an impossible dream. Indian cabinet has approved a plan in this regard but it is still unclear whether the government would arrange the money or the government is expecting the private sector to come forward and invest. If it becomes a matter of the private sector then I am not hopeful because solar energy is still considered to be expensive to produce by many people.
India badly needs a lot of electricity to sustain its high economic growth. So, investing in solar energy is a good option. Indian government can encourage media to promote solar energy with public service advertisements. If many people become aware of the good sides of solar energy then perhaps they would not mind paying a bit extra for it. 

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