Assessment Of Solar Energy Potential and Its Ecological & Economic Efficiency with Respect to Indian Geographical Location

Abstract

The Indian estimated potential of renewable energy sources in 2022 is 175 GW, out of which 100 GW holds for solar power plants, 60 gigawatts for wind, 10GW for biomass, and 5 for small hydropower plants. Because of climate change and global warming, the essentiality of alternate energy has become the need of the hour. Exploring the potential of alternative resources of energy is enormously searching on the worldwide level. Countries are generating extreme levels of carbon emission like India and more desperately researching for new opportunities for alternative energy. The study significantly analyzes the potential of solar energy and its utility to enhance economic feasibility and its role in economic sustainability. It is also comprehensively analyzed, concentrating specifically on the Indian geographical location. For evaluating the objective and obtaining relevant results, the paper selected empirical methodology and conducted a survey among the 101 participants based on numerous questions. The outcome demonstrates that solar energy has immense potential for economic efficiency by generating wealth from saving resources, utilizing cost-effective and fuel saving approaches, endeavoring for innovative strategies that open the doors for the abundance of opportunities and enhance the credential and brand value of the company.