Solar Energy – A tax saving tool

Solar power spectrum though can emerge as the ‘real game changer’, willingness and a positive approach from the governing body is an essential for all renewable power resources to flourish effectively. Vikalp Mundra, Joint Managing Director Ujaas Energy Ltd, takes a closer look…

The potentials of solar energy have been a limelight discussion topic in India, a country that is on the competitive pace of meeting the power requirements of an exploding population. Just like after a dark night the sunlight starts radiating light at dawn, the entire solar spectrum in India is on a constant evolution.

Trailing the growth pace

Considering the present scenario, I see huge futuristic demands for power resources in the renewable segment, particularly in the solar sector. Besides, the utilization of solar energy is prospective for both the rural and urban regions. In the remote rural and small pocket regions, solar is best suited for distributed power supply. Additionally, with the solar energy nearly approaching grid parity it prevails as an apt option for meeting the power requirements in the urban areas.

The sector is also on a constant evolutionary pathway with the fast paced technical progress. The latest among one such innovation is the installation of rooftop solar panels. The concept of rooftop solar panels though is increasingly gaining momentum in the Indian market, particularly in the tier-I and urban metro regions; the technology has to yet establish its firm presence in the tier-II and tier-III areas. Reviewing the growth pace, witnessed in this segment, I am very optimistic that the technology will soon succeed in convincing the masses and in establishing its presence across distinct regions in India.

Read more: Indian solar rooftop projects get $100 million financing

Installation of solar plants under Renewable Energy Certificate (REC) mechanism is other latest development being witnessed in India’s solar spectrum. We are the first to generate and sell Solar REC in the county from  its solar power plant of 2 MW, commissioned in March 2012 at Rajgarh, Madhya Pradesh. If Solar REC sale pick up pace in the coming three months that is Q4, the market will move very fast. Exploring these potentials by the end of FY14 Ujaas Energy will become largest umbrella of Solar Power Plants in India under REC mechanism.

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