May 30, 2022

Solar Power – A ray of hope amidst current Global Power Crisis

As India was on its way to recovering from the pandemic, it has hit a major roadblock in the form of a coal-based power supply crisis. As per media reports, India is on the verge of a historic power outage. More than half of the country’s 135 coal-fired power facilities are facing critically low coal stockpiles.

It is worth noting that in India, coal is used to generate 70% of the electricity that the country needs. Despite having the world’s fourth greatest coal reserves, the country is the world’s second-largest coal importer.

India was already witnessing soaring power demand as the country’s economy recovered following a fatal second wave of Covid-19. At the same time, worldwide coal prices rose by 40%, while India’s imports dropped to a two-year low. Power facilities that formerly relied on imports are now heavily reliant on Indian coal, putting even more strain on already strained domestic resources. Many important states of India are facing dire power shortages in the coming days. If this trend continues, Asia’s third-largest economy will struggle to get back on track.

Though the government has assured the states and industries that there are sufficient stockpiles of coal in India and the situation will not go beyond control, the current crisis should serve as an eyeopener for all.

Consumers will see an increase in the cost of electricity if the crisis continues. Because electricity powers everything, coal scarcity affects the whole manufacturing sector, including cement, steel, and construction. Everything from fuel to food is going to be more expensive, resulting in severe retail inflation.

More than ever now is the time to focus on renewable energy. The world is witnessing a substantial shift in the overall percentage of global energy spending towards clean energy technology, with sustainability as the driving force. Oil companies all around the world are diversifying their portfolios by investing in solar and wind power generation.

In India, the situation is more or less the same. In the post-Covid era, renewable and green energy may prove to be a game-changer. Apart from the large global economy, solar power generation makes sense at the domestic level.

India has witnessed rapid growth in solar rooftop system adoption. Solar energy is the most abundant energy source on the planet. Every 15 minutes, enough sunshine reaches us to power the entire world for a year. Solar energy is used to power homes, companies, and power plants all around the world.

The leading roof-top solar system providing companies like Navitas Solar are providing total solutions for adopting solar rooftop systems. Currently, there are mainly two options to go for it. One option is to install only solar panels and submit the generated power to the state power grids and get benefits in one’s power bills. Another option is to have solar panels, with battery and inverter, so that the power generated through your own solar panels can be right away used in your home, office or any other institution.

In times when we are facing a major power crisis and we may have to face power outages, adopting a complete solar-based solution can prove a critically correct decision.