Luminous Power Technologies’ recent inauguration of a 250 MW solar panel factory in Uttarakhand, expandable to 1 GW, sent a clear message: India’s solar manufacturing muscle is flexing. This state-of-the-art facility, boasting complete automation and cutting-edge technology, is a microcosm of the country’s soaring solar ambitions.
But beyond the impressive machinery lies a more profound question: can India truly achieve its soaring solar ambitions? Inclusive adoption of solar energy across the country remains a concern despite India boasting some of the cheapest solar energy globally.
Preeti Bajaj, CEO & MD of Luminous Power Technologies, spoke to WION regarding this. “Solar energy is not cost-effective is an absolute myth,” she asserted. “We have the most cost-effective power when it comes to solar energy. We are already at Rs 4/unit, which is at grid parity, if not cheaper. Cost decline in panel technologies has come down by 78 per cent over the last 10 years. So, the technology in terms of panels is optimised, there are design innovations, governments are pitching in and giving subsidies, making the payback even more compelling.”
The recently announced interim budget underscores the government’s commitment. A doubled allocation for solar power ($1.1 Billion) and the launch of the ‘PM Suryodaya Yojana’ aiming for rooftop solar in 10 million homes signal a concerted push to make solar power accessible.
However, achieving the ambitious 40 GW rooftop capacity target by 2026 requires a multi-pronged approach. While large-scale commercial installations are crucial, increased focus on MSMEs and rural electrification is vital. The budget’s emphasis on rooftop solarisation and the ‘muft bijli’ scheme, offering free electricity to low-income households, are steps in the right direction.
India’s solar push aligns with its broader renewable energy goals. The budget also witnessed a significant hike in allocation for green hydrogen and wind power, highlighting the government’s commitment to a diversified clean energy mix. If executed smoothly, India can truly achieve its broader sustainability goals.
Manish Pant, Vice President of International Operations at Schneider Electric, a global energy player, told WION about the growing influence of India as a manufacturing hub. “India is an important market for us. It’s the third largest market for us globally. We are committed to India. We have 30 manufacturing locations, we employ 37,000 people, we do our R&D & manufacturing here, and more importantly, we are not just doing that for India. We are doing India for India & India for the Globe. We clearly see India growing much faster than the rest of the world, thanks to the demographic profile it has and the Great Policies of the Government, and this is where we are committed to investing,” he said.
Luminous’ new factory embodies this vision. However, India’s solar journey is about more than just manufacturing. As cricket legend Sachin Tendulkar, Luminous’ brand ambassador, said: “There is a tendency to think about doing something for the future, but I think it should start with us and for us. I usually say, there’s no such thing as Right Now. It’s either right or it’s now. But when it’s about the planet, I say we should do the right thing & right now.”
With a blend of private sector innovation, government support, and a growing public consciousness about sustainability, India’s solar dream is well on its way to becoming a bright reality.
