The renewable business scenario in India is moving away from policy-driven to parity-driven. In response to this, many entrepreneurs are coming forward with the vision to lighten India in an eco-friendly way. India is largely an energy import driven nation. It has a lot to gain from the available solar energy. In the past, many solar enterprises had been set up including Tata Power Solar Systems Ltd., Moser Baer Solar Groups, SunTap, etc.
According to Mr Narendar Modi,”solar energy is vital for India’s energy security.” The initiatives undertaken by the government of India include the following:
- As part of United Nations Development Programme (UNDP’s) partnership with the ministry of new and renewable energy, demonstration for the use of solar energy to generate electricity in rural areas has been set up across the country.
- Jawaharlal Nehru National Solar Mission (JNNSM) by central government has been started to make India solar super power.
- Furthermore, the government has cut down the solar tariffs.
- It has also started solar loan program which focuses on financing solar power systems.
Why this sector?
Depletion of conventional sources of energy and its intensified poor environmental effects has whipped up the need for solar energy resulting in its increasing demand and awareness among the people. Solar energy is both renewable and economical form of energy as compared to many other sources.
People without access to electricity are proving a growing market opportunity for social entrepreneurs. India, where almost 400 million people live without electricity could become a stupendous agora for young entrepreneurs. Solar industry has already attracted significant investment accounting about USD 4.2 billion in 2011. Gujarat and Rajasthan being highest producers of the same.
There is huge scope of innovation for an entrepreneur to make it cost effective to address the demands of large population in our country.Further,increasing solar adoption is opening up new opportunities for small and medium enterprises(SMEs) because India has a good power electronic base. SMEs will enter the market through power electronics like inverters, batteries, chargers, etc.
- Still voluminous rural population is unaware about solar energy and its usage. One has to spend to show the ropes to them about the same.
- Banks are still shy in lending to Indian solar power projects.
- Solar energy is fluctuating and seasonal in nature.
- Some other problems are include land acquisition, transmission networks and lack of direct entry for SMEs in the sector.
India is ready to become one of the best solar energy market in the world, having approximately 3000 hours of sunshine annually, offering the young entrepreneurs to hunt the opportunity of investment into this widespread stratum. These startups will not only have their own sunlit future but also they will give radiance to the rural population. Solar entrepreneurship can be a interfusion of business and a social cause. Overall ,we can say that it’s a ‘business solution to clean energy and climate change’.