India’s Prime Minister has announced an intention to double the nation’s renewable energy capacity from 25000 MW in 2012 to 55000 MW by 2017.
In a speech given at the 4th Clean Energy Ministerial, Prime Minister Manmohan Singh says approximately 1500 MW solar capacity has already been installed in the country, and an additional 10,000 MW will be in place by the end of the 12th Five Year Plan in 2017.
India’s National Solar Mission aims to to establish the country as a global leader in solar energy; with goals of 20,000 MW of installed solar generation capacity by 2020, 100,000 MW by 2030 and 200,000 MW by 2050.
The Prime Minister said the cost of solar energy has nearly halved over the last two years and while it remains more expensive than fossil fuels, if the cost imposed by carbon emissions is taken into account, then solar energy is more cost effective.
“However, with costs expected to fall further in the years that lie ahead, it will soon be fully competitive at the margin.”
Dr. Singh wants to encourage domestic production of the equipment needed for the nation’s needs and also to supply other countries. He is eager to see global manufacturers setting up production facilities in India.
India is also giving wind energy some further attention.
“India’s wind potential in both onshore and offshore areas is being re-assessed to draw a long term plan for exploiting this source of energy,” said the Prime Minister. It appears that our potential for harnessing wind power is much larger than was earlier anticipated, though the potential is concentrated in certain parts of our country.”
The Prime Minister acknowledged these are early days in India’s efforts in developing a workable strategy for renewable energy and much remains to be done.
The full text of Prime Minister Manmohan Singh’s speech can be viewed here.
