Seven ways solar benefits people, economy, environment and drives growth.
Renewable sources of energy such as solar, wind, biogas, etc. have been viewed as a viable substitute for fossil fuels. The renewable energy sector has experienced a sharp increase in demand due to the decrease in the price of production along with government incentives. The need for an alternative source of energy has increased many folds, to curb pollution and reduce the carbon footprint, and to provide people with a clean and efficient source of energy. Countries all over the world have taken steps to encourage more and more people to invest in such sources of energy to curb climate change, also working with other countries to facilitate the movement towards such unconventional sources of energy.
There are many benefits of solar energy such as better job opportunity, curbing of air pollution, reduction in the cost of production of electricity reduces carbon footprint to assist in controlling climate change. It also saves non-renewable resources, promoting a healthy environment, and also increases economic growth through many ways including foreign investments in solar projects. India has a set aim produce over 100 GW of energy by the year 2020. Recently, the Modi government, along with French President Emmanuel Macron, inaugurated Uttar Pradesh’s largest solar park with a solar capacity of 75 MW.
The solar industry has experienced a significant proliferation in recent years as the investments in solar energy schemes has increased many folds along with an increase in rooftop installation of solar panels. The increased investment has caused a rise in the number of job opportunities available and is expected to give rise to almost 7 lakh jobs by the year 2020. The role requires highly skilled labor, which makes them paid reasonably well. Increase in competition due to the entry of many private companies like TATA power solar system LTD, Sollink, Vikram solar power LTD, etc. are significant companies in the fields that have given rise to many job opportunities. Results of such movement also help increase the average per-capita income of people, promoting the economic growth of a country to improve people’s lives.
India is solar rich country and can supply power to impoverished regions of the nation. Air pollution in India is a significant problem, with the primary sources being fuelwood and biomass burning, fuel adulteration, etc. Many households use firewood and biogas to cook, and other heating uses. Coal and oil workers are exposed to harmful chemicals which sometimes make them ill causing some to even die prematurely from lung diseases. Clean energy sources don’t produce copious amounts of toxic air pollution, like fossil fuels do, and also help in controlling carbon emissions. The count of people dying due to lung problems worldwide is in millions. Test results also show that Non-smoking Indians have 30% less lung functioning capacity as opposed to people in other countries, which is an alarming rate. Solar energy helps in reduction in the use of fossil fuels as it can also be used for cooking and other heating purpose reducing emission levels.
The solar industry has expanded exponentially in the past five years increasing investment. The government of India, giving rise to this motion, has introduced many incentives for people to look forward to purchasing their solar energy system. Due to this sharp increase, the cost to produce has reached an all-time low and is expected to fall further. Technological advancements in the field have also increased the efficiency of solar cells to absorb more energy and produce a higher level of power, resulting in further reduction of price. Since solar panels are relatively stable structures, they do not require high maintenance, which also helps users in the long run to increase their returns on the investments made.
France announced the importance of steps needed to be taken to control the climate change occurring due to increased carbon in the atmosphere along with the depleting ozone layer. The pollutants in the air over a particular area also have an adverse effect on the temperatures of the area. Solar panels help in reducing the release of carbon in the atmosphere as it serves as a viable alternative to help reduce the use of fossil fuels and other such petroleum products. The world’s latest inter-governmental organization is the International Solar Alliance (ISA) was also established as a joint effort to increase the solar capacity and also introduce solar energy in countries all over the world. The ISA aims to reduce the cost of solar technology to enhance the aggregate demand, lower the cost of finance for the rapid deployment of solar projects, and to pool in global resources to invest in research and development to improve and enhance solar technology.
Non-renewable resources such as petroleum, oil, natural gas, coal, etc. are limited and take over thousands of years to form under enormous pressure. Since they are limited in nature, the need to reduce the use of such sources of energy has gained priority. Many energy companies also have increased the prices of production of energy to cope with the increase in costs of fossil fuels, due to the depletion of these sources of energy. Solar energy helps reduce the use of such fossil fuels, as an alternative resource to be used for cooking and many such applications. The cost of solar energy has decreased drastically, resulting in the competition of prices between coal and solar sources of energy.
Solar Energy provides a clean source of energy and a viable alternative to fossil fuels such as coal, biogas, etc. for use in households. Solar energy also promotes the environment as 1KW of solar energy is equal to planting over 200 trees and also control vehicle emissions by reducing the use of such fossil fuels. Along with the many benefits of solar energy, benefits such as reduction in the carbon footprint, this helps to control climate change, causes people to move towards seeking investments in solar schemes to do their part in the society.
Solar energy also promotes economic growth in many developing countries that might be rich in solar sources. Renewable energy allows the availability of energy to reach poor communities directly, increasing job opportunities by offering localized jobs, especially for women and vulnerable sections of the society. Access to energy sources acts as a critical determinant and is also correlated to sustainable economic growth in many countries. Development projects can also address critical obstacles to the adoption of renewable energy adoption in developing countries. Foreign investments in many such projects also enhance the economic growth of nations.
Technological advancements, increased demands, increased investment and many more such factors have facilitated in the promoting of use of solar energy as a solution to many household and environmental problems. International forums like the ISA have been established to streamline the process of foreign investments which ultimately promote economic growth and the use of renewable source of energy in many countries.