Special Story On Solar Power In India: Latest Indian.. Solar History: A new solar history has started in our country. Hence, there may be no need to depend on coal and fossil fuels for electricity in the future. In the first 6 months of this year, India has been able to reduce energy costs by 4.2 billion dollars through solar power generation. It also saved 19.4 million tonnes of coal. A new report has been released detailing the extent to which India and more countries benefited from solar power from January to June 2022. The complete details are as follows.
Three organizations have analyzed global solar growth over the past decade. One of those three companies.. Ember. This is an energy think tank. Second. ‘The Center for Research on Energy and Clean Air. The third organization. ‘The Institute for Energy Economics and Financial Analysis. The study found that five of the world’s top 10 economies with solar capacity are in Asia. The names of those five economies are India, China, Japan, South Korea, and Vietnam.
Seven countries in particular are producing solar power in Asia. They are. India, China, Japan, South Korea, Vietnam, Philippines, and Thailand. These seven countries have been able to save $34 billion in energy costs in the first six months of this year due to solar power. This is equivalent to 9 percent of the total cost of fossil fuel consumption during this period. China accounted for the largest share of this $34 billion savings, the report said. This solar power meets 5 percent of China’s current demand. Coal and gas imports worth $21 billion were also avoided, the report said.
Japan ranks second in the list of countries where solar power has reduced energy costs the most. The country saved $5.6 billion. Vietnam retained $1.7 billion. Solar power generation in Vietnam was almost zero terawatt-hours in 2018 and has reached 14 terawatt-hours this year. This is equivalent to 11 percent of the country’s total electricity demand.
It is worth noting that although solar growth has slowed in Thailand and the Philippines, energy costs have fallen significantly. In Thailand, solar power has reduced electricity demand by only 2 percent, but a cost-cutting of 209 million dollars has been achieved by avoiding fossil fuel consumption. Same in the Philippines. Solar power is only one percent of the total electricity generation. But.. it was able to save 78 million dollars by avoiding the use of fuel.
Solar power accounts for 5 percent of South Korea’s total electricity generation, which has saved $1.5 billion worth of fossil fuel consumption. In this context, CREA’s Southeast Asia Analyst Isabella Suarez believes that Asian countries should focus on increasing solar power capacity. It is suggested to achieve energy security in the Asian region by focusing on clean energy sources like solar power as well as wind power.
At the same time, coal and gas imports have become too expensive and unreliable, says Vibhuti Garg, an expert. He said that switching from fossil fuels to renewable fuels will reduce the cost of all systems and the burden of electricity bills on consumers. Therefore, India and other Asian countries should direct investments toward building a renewable energy ecosystem, he said.
Ember expert Aditya Lolla said that in recent years, governments and people have shown interest in the production and use of solar power in India, and this development not only improves energy security but also brings about a revolution in solar power, which has created conditions for the power sector to follow that sector. He expressed hope that the growth of solar power in India will run rapidly in the next ten years.