Government looking at 100,000 MW solar power in next 5-7 years

Putting its emphasis on renewable source of energy, the government is looking at a solar power generation target of 100,000 mw by 2022, up from the 20,000 mw goal planned by the previous government. Power, coal and renewable energy minister Piyush Goyal has said that "what we inherited was 20 gw (giga watt) up to 2022, which we are trying to reset to 100 gw. On the solar front, we believe there is enormous potential to take it to 100,000 mw in next 5-7 years". He further stated that the government of India stands committed to lead the revolution in the renewable energy sector.

The minister stated that renewable energy may seem expensive, but in the long run, it scores over conventional energy. The subsidy regime needs to be more robust, targeted and sustainable. He also said the government was trying to make these projects viable by providing grid parity to make them economically viable and ensuring that bankability and returns were reasonably assured.

The country wants to attract $100 billion - $115 billion of investment in clean energy over the next five years. But the government may find it difficult to achieve its solar target without subsidies as the country has added only 3 gigawatts. However, the minister has said that the government is trying to make it self-sustaining, in order to help it realise the revised target of 100,000 MW from renewable sources.