Financial and Technical Viability of Solar Energy Projects in India

Financial Viability:

1. Cost Trends: The cost of solar photovoltaic (PV) technology has significantly decreased due to technological advancements and economies of scale. Solar power tariffs have fallen below conventional sources like coal, making it increasingly cost-competitive.
2. Investment Opportunities: Solar projects attract substantial private investment and are supported by international funding. Programs like National Solar Mission aim to boost solar power capacity through investments and subsidies.
3. Return on Investment: Long-term savings on energy costs and financial incentives from various schemes improve the return on investment. Solar energy projects also benefit from depreciation benefits and tax incentives.

Technical Viability:

1. Resource Availability: India has high solar irradiance levels, particularly in states like Rajasthan, Gujarat, and Madhya Pradesh, making it technically feasible to harness solar energy effectively.
2. Infrastructure: The development of solar parks, improved grid infrastructure, and battery storage technologies enhances the reliability and efficiency of solar power.

Government Schemes:

1. National Solar Mission (NSM): Launched under the National Action Plan on Climate Change, it aims to achieve a cumulative solar power capacity of 100 GW by 2022.
2. Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM): Supports farmers in setting up solar water pumps and grid-connected solar power plants.
3. Solar Rooftop Subsidy Scheme: Provides financial incentives for the installation of solar rooftop systems on residential, commercial, and institutional buildings.
4. Jawaharlal Nehru National Solar Mission (JNNSM): Focuses on deploying large-scale solar power projects and promoting research and development in solar technology.

Conclusion: Solar energy projects in India are financially and technically viable, supported by decreasing costs and favorable resource availability. Government schemes further bolster this sector by providing financial incentives and facilitating infrastructure development.