India has been in unfavorable conditions until recently when its moves become inspirational as it targets to create miracles in the solar energy industry. As Modi took office, all kinds of projects about solar power have been put into practice or are being practiced. Recently news reports from the country have announced that India has set up a solar energy ambition of getting 100 GW of solar energy by 2022. More astonishingly, it is estimated that the goal will create 1 million job positions in India.
In the country many areas are out of reach for the national utility grids, and so these areas have been living in the dark. If some large-scale solar power projects can be built in the country, numerous families having no access to electricity will be able to rid of blackouts at night. On the other hand, when these projects are to be built across the country, human labor will be needed, and so jobs will be created. In detail, the jobs mainly come from project planning, construction, installation and operations.
By setting such a goal, India will not only create 1 million jobs to power the country’s economy and root out its high unemployment rate, but also it will boost the PV inverter market in the coming years. The basic knowledge is solar power doesn’t generate itself, it needs solar panels to convert sunlight into direct current and then PV invters to turn direct current to alternating current, which sustains each family’s power needs. In this process large numbers of PV inverters will be manufactured to do the converting job along with innumerable solar panels.
Currently there are two different situations found in the inverter market in India. One is these photovoltaic inverters will only be used in solar power plants. If so, string, single phase and three phase inverters will be produced to meet the needs. Simultaneously, other types of inverters specially made for these factories must be made. This is the majority of the total inverter market share. The other half share is manufacturers inside the country should also produce microinverters, which are the new invention in recent years. Their specialty lies in that they are only suitable for home power systems. By using these inverters, more electricity will be generated. This requires large sums of money of investment, which most Indian civilians cannot bear at all. Today, the quota for this part is very small but serves as the other half.
In addition, the media report that India hopes to make contributions to climate change by boosting its solar power. The typical example is that Modi and Obama have solidified their common commitment to fighting against climate change.