November 2022: In the 21st century, when India aims to become a world superpower, we still lack in the Energy sector. We have only 0.3% of the world’s oil resources, only 0.7% of gas resources and about 6.5% of coal resources.
All our conventional sources of energy are imported at very high and unpredictable costs. Also, an important point to notice is that the largest share of our foreign exchange is being spent on importing energy resources.
From a broader perspective, this also has an impact on the energy security of the country. Considering the fuel shortage due to the current macroeconomic situation in the world, it has become even more important to shift the focus from generating electricity from coal-based thermal power plants to environment-friendlier renewable resources of energy.
Among all the renewable sources of energy, we have an abundant supply of Solar Energy due to our geographical location. With all the development in solar PV technology so far, it has become a commercially viable option for electricity generation.
The abundant energy from the Sun can be used for heating water as well as for the generation of electricity. Whether it is a remote location without Grid connectivity or well within a buzzing City, whether in a village or a metropolis, all can benefit from this unending energy of the Sun! Combined with a battery bank one can receive an uninterrupted power supply.
Solar power plants or solar water heaters can be installed and used for individual consumption, and can also help generate income. It can be installed on bungalows and housing societies, on industrial rooftops. Solar Parks / Farms, which can generate hundreds of Gigawatts of electricity that can meet the energy demand of an entire city, can also be installed.
Alternatively, one can invest in Solar Power Plants and sell electricity generated from them to factories, commercial buildings, hospitals, and other areas. The end user can pay charges less than what they were paying to the grid, thereby saving on their energy bills. The investor on the other hand is generating and selling electricity and thereby gets a regular monthly income. With an investment equivalent to a 3 BHK property in Pune today, one can earn up to 25% more than what they can earn by renting the property worth a similar cost!
Considering the immense growth in the Solar Energy Sector, and the need of the hour to shift to cost-effective and environment-friendly energy options, there is a huge scope for solar enthusiasts to make a career in this segment. Not just that, Solar can also help one generate passive income as one can get associated with a Solar EPC Company like ours and conduct business development for them. It can be a good option for people who are entrepreneurs, freelancers, Industrial service providers, financial consultants, environmentalists, consultants, retired employees, or anyone seeking additional income sources.
(Jyoti Prakash is Co-Founder & Head Operations, VISOL Renewable Energy Solutions LLP)
Note: This article was first published in Dreams Per Square Feet Magazine