ENA Sectors 2024-11-06 15:35:48 <p><span style="font-size:14px"><strong>New Delhi, Nov 6 (KNN)</strong> Union Minister Pralhad Joshi emphasised the critical importance of enhancing solar project efficiency, reducing costs, and developing energy storage solutions during his address at the International Solar Alliance conference on Tuesday.</span></p> <p><span style="font-size:14px">Speaking as the President of the 120-nation alliance, Joshi outlined five key areas of focus including increased efficiency, cost reduction, energy storage solutions, smart technology integration, and economic growth alongside job creation.</span></p> <p><span style="font-size:14px">The conference, held in conjunction with the International Solar Alliance's 7th General Assembly, brought together international delegates to discuss advancements in solar technology.</span></p> <p><span style="font-size:14px">Joshi highlighted India's achievements in the sector, particularly noting the PM Surya Ghar Muft Bijli Yojana scheme, which is projected to generate 1.7 million direct jobs across various sectors.</span></p> <p><span style="font-size:14px">In a significant workforce development initiative, India plans to train 325,000 youth in rooftop solar installation and maintenance, fostering entrepreneurship opportunities within local communities.</span></p> <p><span style="font-size:14px">Joshi emphasised how smart technologies, including Internet of Things (IoT) devices and Artificial Intelligence, are transforming energy consumption management, enabling real-time monitoring for homeowners.</span></p> <p><span style="font-size:14px">The Minister detailed technological progress in the sector, noting that while traditional solar panels typically convert 15-20 percent of sunlight into electricity, innovations like bifacial panels are improving these efficiency rates.</span></p> <p><span style="font-size:14px">Under Prime Minister Narendra Modi's leadership, India has achieved a 76 percent reduction in solar tariffs, with rates dropping from Rs 10.95 in FY 2010-11 to Rs 2.60 in FY 2023-24 for grid-connected solar power plants.</span></p> <p><span style="font-size:14px">Addressing the crucial aspect of energy storage, Joshi stressed its importance in maintaining consistent power supply, noting that new storage technologies are essential for managing solar energy's intermittent nature.</span></p> <p><span style="font-size:14px">He emphasised that effective storage solutions are vital for achieving flexibility and enhancing grid reliability and power quality, a topic that would be further explored in the conference's second Technical Session on Emerging Storage Technologies.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39819 https://knnindia.co.in/news/newsdetails/sectors/solar-efficiency-storage-solutions-key-to-industry-growth-minister-joshi 2024-11-06 15:35:48 knnindia.co.in