Gujarat’s eastern state of Modhera, which has a popular Hindu sun temple that dates back to the 11th century, was chosen as the country’s first solar-powered village.
The American government’s plans to make quarter of its electricity from renewable sources by 2030 include the solar project in the village.  ,
Prime Minister Narendra Modi has also pledged that India will reduce its greenhouse gas emissions to” online low” by 2070.
One of Mr. Modi’s campaign promises is that the world’s most populous nation will become “energy impartial” in the coming decades. He is currently seeking a unique second term in strength.
India’s trade gap is growing as a result of expensive fossil energy imports, making the development of renewable energy even more crucial.
Yet, despite significant progress being made in expanding the use of renewable energy sources, experts claim that a lack of funding is stifling progress.
LESS THAN HALFWAY TO 2030 Specific
Official statistics indicate that since Mr. Modi came to power ten years ago, India’s clean energy capacity has more than doubled to 188 terawatts.
Despite this, however, the state is not even halfway to its target of 500 gigawatts by 2030.
Analysts claimed that the objective is realizable, but that concerns about cost of capital must be addressed in order to increase investor interest in the market.
According to a report from Ember, India needs about US$ 300 billion in funding to fulfill its capacity goals by 2030. If it were to coincide with the net-zero road proposed by the International Energy Agency, it would need an extra US$ 100 billion.
According to Ms. Shailendra Singh Rao, leader and managing director of Creduce, there must be a” money force” from the state in terms of the money, money additions, and funding provided by the banks at lower rates.
” ( The ) proper infrastructure, the transportation and other activities need to be pushed in order to add more capacity,” she added.
The government’s intention is evident, Ms Rao noted- for India to become the international powerhouse of strength change and clean energy.