Feed-in-tariff and solar energy

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policy will yield about 150 million units or an outflow of only Rs 150 crore. This amount can also be utilised as an incentive to provide interest subsidy to promote solar/wind power which will contribute to clean energy, set of new industries and employment.

The question comes up why solar power should be so favoured despite the high prices, even though it is shrinking at the rate of 50% in every 7-8 years. One reason is the disproportionately high reliance on fossil fuels and the need to not only to reduce their consumption, but also to switch over to sustainable non- polluting energy resources. Renewable energy as a sustainable clean resource fulfils both energy demand and will save the planet from further pollution and dangerous evils associated with it.

Amongst all the renewable energy resources, solar power is boundless. Solar facilities on even 1% of desert land can meet the total world energy. Another advantage of solar power is that it reduces dependence on water resources which is already is a growing constraint. FIT is the appropriate tool to promote solar or other renewable energy.

Potential of the solar energy was realised by the developed countries a decade back and they were at the forefront to promote it and build a global capacity of 8,000 mw. Japan, Germany, the US and Spain are in the forefront with clear cut policies to replace conventional thermal power by renewable resources, so that it reaches to 20% of total installation in 10 years’ time. China is following the same and India must act to catch up.