The solar power generation in India will create around seven lakh jobs in next 10 years, says a report jointly prepared by Bridge To India and Tata Power Solar.
Solar energy can create up to 1,45,000 MW of capacity and 6.7 lakh jobs in India over next 10 years.
The solar energy target set by India creates an opportunity of US$ 41.73 billion in the market up to 2022.
The realizable potential for solar power generation in India is between 110 GW to 145 GW across different types of systems.
To solarize the economy, it is important to find the right mix of pathways that will have both economic as well as social impact. This unique report is expected to trigger a robust dialogue on the subject, noted, Ajay Goel, CEO, Tata Power Solar.
The reports give an account of the solar road map for India through comparative analysis of residential rooftops, large rooftops, utility scale projects and ultra-mega projects.
Each scenario is analyzed in terms of leveled cost of energy and landed cost of power which measures the cost to a consumer at the point of consumption.
The four scenarios together will create over 6,75,000 solar jobs in India in the next 10 years, says the report.
Currently, the ultra-mega plants with a leveled generation cost of Rs 6.6 per unit and a landed cost of Rs 8.4 per unit are appealing in the market.
In the long term, large rooftop systems will be the cheapest option with a leveled generation cost of Rs 6.6 per unit and a landed cost of Rs 6.7 per unit by 2024.
Rooftop projects can lead to higher job creation than large projects. The small rooftop scenario will contribute the most, with around 3,25,000 new jobs for 25,000 MW.
The solar energy market in India has achieved momentum due to the policies introduced by government and the ability of solar energy to be utilized in various applications.
The objective of the report is to evaluate each of the four scenarios in terms of speed of deployment, implementation challenges and potential for job creation.
India has set a target of achieving overall solar energy installed capacity of 20,000 MW by 2022.