Government plans to invest more funds in research and development to generate 100 GW of solar energy by 2022
Suresh Prabhu, Union Minister had told that India has set a target to generate 100 GW solar energy by 2022 for increasing share of carbon-free energy in the energy mix.
While speaking at a function of International Solar Alliance (ISA) Innovation and Investment Forum, he stressed on joint efforts required to reduce the cost of finance and technology for massive production of solar energy.
Need to invest more in solar energy sector
In addition to this, he emphasised on the need for sending market signals so that more funds are invested in research and development (R&D) in solar energy. As of now, many firms of Australia and Japan are keen to invest in India in the solar energy sector.
The idea of the International Solar Alliance (ISA) was conceived in 2015 as a treaty-based international intergovernmental organisation. It stands for co-operation among 121 solar rich countries lying fully or partially between the tropics in order to promote massive deployment of solar energy and make solar energy affordable.
He also told that the use of shale gas and oil is limited and it adversely impacts the environment. The threat of climate change has become a reality and it has affected the biodiversity of the planet.
Moreover, imbalanced use of energy is the root cause of many environmental problems in different parts of the world. It is causing unprecedented heat wave conditions in Europe, intensity and frequency of typhoons have also increased.
Referring to variations in Monsoon rainfall in India, He told that the country isn’t responsible for what is happening in the atmosphere over the Indian Ocean, but it has to bear the consequences of ocean warming. He added that the time has come when we will have to switch over to the clean form of energy like solar power.
