Solar energy now cheaper than conventional energy, says power minister

Minister of State for power, coal and new and renewable energy Piyush Goyal has made a strong plea to industries for adopting solar in rural and urban areas, saying that solar power is now cheaper than conventional energy based on fossil fuels.

Tariffs for solar power would remain same for 25 years and it's based on natural resources over which no external agency has control, he added.

Speaking at a lecture organised by Mahratta Chamber of Commerce and the Pune International Centre, he said India's renewable energy programme is its own as amply proved by the International Solar Alliance, adding that India will not accede to pressure tactics and obstructionism of the United States.

The traditional ethos of conservation makes India a natural country to lead the world efforts in the area of climate change, he said.

On the ambitious program of replacing 770 million incandescent bulbs by LED bulbs, the minister said till date more than 90 million bulbs have been replaced and the company, Energy Efficiency Services Ltd (EESL) is doing a phenomenal job replacing 7 lakh bulbs per day. This will result in a saving of 100 billion units every year and the consumer bills would come down cumulatively by Rs40,000 crore and the Co2 emission will be down by 60 million tonnes/year.

Goyal said energy efficiency and clean energy have been important features of the programme. The minister said India produces hardly 2.5 per cent of greenhouse gases but despite that the US is doing little to mitigate effects of climate change. He said we are taking steps not because of pressure from them but because of our consciousness in recognising the value of the universe.

Goyal, however, said the United States, despite its claims on clean energy, has only pushed for its share of the market in India and has done precious little to promote solar energy.

Arguing that India's solar energy generation programme is one of the largest in the world, he said the world has tremendous potential to save energy.

Goyal said he has convinced the solar energy producers not to press for anti-dumping measures as that would have done more damage and the country would not have been able to meet its targets in the field of solar generation.

Senior economist Vijay Kelkar, industrialist Baba Kalyani and members of Pune International Centre were present at the event.