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India Set to Lead the Way in Solar Power Generation

Planning for the future

India wants to get 40 percent of its power generation by 2030 from renewable and clean energy sources. To reach that goal, the country is getting ready to generate up to 100 GW of solar power by 2022 to provide clean energy that is both sustainable and good for the climate.

To make this 2022 goal possible, the World Bank Group will offer financing of up to $1 billion throughout 2017 — the largest amount ever provided to any country in support of solar power.

Climate change adaptation in infrastructure

Clean, sustainable, and renewable energy that is affordable and accessible to everyone in the nation is important, especially for developing countries such as India, to meet future demands without further harming the environment.

Currently, India’s power system is subject to frequent disruptions, and almost 300 million people in the country have no access to electricity. Although the nation is one of the lowest energy consumers in the world, its burgeoning population and projected economic growth will likely double energy needs by 2040.

In light of this, Narenda Modi, India’s Prime Minister, believes that the sun is the way to power the future, indicating that a “bold, global initiative” is necessary for sustainability in the face of climate change. Getting to that level of solar power generation will not be without its challenges, as currently the entire globe only has the capacity to generate 181 GW of solar power.

“India’s plans to virtually triple the share of renewable energy by 2030 will both transform the country’s energy supply and have far-reaching global implications in the fight against climate change” — Jim Yong Kim, President, World Bank Group

India plans to use a variety of methods to achieve its 2022 goals, including solar panels on rooftops that will be grid connected, and some of the largest solar parks ever built.

The World Bank financing will help the nation meets its goals by enabling the development of common infrastructure designed to support solar parks that are privately developed across the nation, while introducing new technologies and assisting in capacity building for the solar rooftop panels.