In Ghaziabad, where coal was a key source of electricity generation, dropping technology costs have pushed the price of renewable energy below coal. Many studies have shown that coal-fired power facilities provide electricity that is more expensive than solar energy.
The preference for solar energy over traditional energy sources is influenced not only by the desire for green energy and sustainability but also by the cost of solar energy, which is dependent on the cost of installing and maintaining a solar rooftop power plant in Ghaziabad.
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Solar Energy or Fossil Fuels
When compared to fossil fuels such as coal, solar power has the most favourable environmental impact. Coal-fired power plants have some advantages in terms of long-term application. However, the ultimate criterion for comparing solar energy to fossil fuels is cost-effectiveness, and solar has quickly surpassed its non-renewable counterparts in this regard.
The government’s financial assistance in the form of subsidies has a substantial impact on the development possibilities for solar power generation using renewable energy sources. It is, however, difficult to match the exact cost of various energy sources.
Advantages of Solar Power over Coal
The majority of individuals are already aware of the drawbacks that come with coal burning. This scenario involves significant pollution as well as the fact that the resource is insufficient and will eventually run out.
Solar panels are mounted on a rooftop or on the ground to take advantage of a readily available resource: sunshine. Solar is a non-polluting source of green energy, which is a significant advantage for any large-scale energy source. Furthermore, renewable resources are ideal for utilization because they replenish and are not limited. They don’t even cause price fluctuation.
In comparison, the development of fossil fuels such as coal necessitates the destruction of the environment. Many individuals may not realize that fossil fuels not only emit greenhouse gases but that the drilling process itself damages and erodes the earth, poisoning the water supply. As a result, a solar rooftop power plant in Indirapuram and nearby districts is the alternative many homeowners are choosing over fossil fuels.
Why is India called the cheapest producer of solar energy?
India’s transformation into the world’s lowest-cost solar energy producer is just because of the cost-effectively constructed solar rooftop plant in Vasundhara. Solar power plants are less expensive than coal-fired power plants for a variety of reasons. The following factors can be attributed to the sector’s increased growth:
· Role of Government
Solar electricity costs was around INR 17 per unit when the National Solar Mission was launched in 2010, compared to around INR 2.44 per unit in the most recent offer. This has been made possible by competitive tariff-based bidding conducted by the Solar Energy Corporation of India (SECI), state governments, and the central government through tenders. Solar energy has been pushed by the Ministry of New and Renewable Energy (MNRE) through a variety of public awareness events and initiatives, allowing for rapid expansion.
· Incentives and Policies
Since 2010, various subsidies and incentives provided by the government and the Jawaharlal Nehru National Solar Mission (JNNSM) have influenced solar energy acceptance. The utility-scale and open access to solar farms, as well as the balanced expansion of rooftop solar power plants in India, are the main segments that have undergone rapid growth. The growth of the rooftop solar market expanded with government subsidies of up to 30%.
· Price Sensitivity
Indian solar power facilities have benefited from this price sensitivity. The cost of solar energy is determined by an overall assessment of the cost of a rooftop solar power plant. Important components such as solar panels, inverters, and junction boxes are available at far lower prices than in other nations, often from the same global manufacturers. As a result, India’s price sensitivity is one of the primary reasons behind the country’s lower solar tariffs when compared to other countries.
The other way price sensitivity has aided solar power plants is that as solar tariffs fell below grid energy pricing, there was extremely quick acceptance, which increased economies of scale and steered the prices of solar power plant components much lower.
· Land Uncertainty
The uncertainty associated with land acquisition appears to be one of the reasons for the record low solar power cost of INR 2.44. Land costs have been completely removed from the project cost of large-scale solar projects in India, making the solar rooftop plant in Ghaziabad more affordable.
· Low Labour Cost
India has the lowest labour costs, allowing the solar industry to employ a huge number of people, resulting in speedy project completion at the lowest possible costs, making solar power plants less expensive than coal-fired power plants.
Setting up a solar plant requires only 20% to 30% highly trained labour, with the rest being unskilled or semi-skilled resources that are readily available and economically priced.
Future of Solar Power in India
As the government has made the new solar pricing operational, the solar power plant in Delhi NCR is now half the price of coal.
Energy storage will be critical in making renewable energy a reliable source of electricity in the next few years, as well as lowering the overall cost of renewable energy. Developers are getting a long-term vision in terms of the solar project pipeline and genuine value in adopting solar electricity thanks to government initiatives in India. We can conclude that India is teetering on the brink of losing its renewable energy future.