Intersolar Europe 2022

Union Minister of State for Ministry of New and Renewable Energy will attend Intersolar Europe 2022 to be held in Munich, Germany. The Minister would deliver the keynote address at the investment promotion event “India’s Solar Energy Market”. The event is being organized by the Indo-German Energy Forum (IGEF).

About Intersolar Europe 2022

• Intersolar Europe is the world’s leading exhibition for the solar industry.
• It unites people and companies from around the world with the aim of increasing the share of solar power in our energy supply.
• Intersolar exhibitions and conferences are held in Munich, São Paulo, Long Beach, Gandhinagar, Dubai and Mexico City.
• These global events are complemented by the Intersolar Summits, which take place in emerging and growing markets worldwide.
• The event’s exhibition and conference both focus on the areas of: photovoltaics, solar thermal technologies, solar plants, as well as grid infrastructure, and solutions for the integration of renewable energy.

About Indo-German Energy Forum (IGEF)

• The Indo-German Energy Forum was established in 2006 by the Indian Prime Minister and the German Chancellor.
• The aim was to enhance and deepen the strategic dialogue about the ongoing energy transition.
• IGEF facilitates constructive dialogue between decision-makers in government and industry on:
• sustainable energy supply and energy use
• the development of markets for power plant technologies, energy efficiency, and renewable energies
• support strategic private-sector activities such as pilot and demonstration projects
• collaborative projects involving Indian and German private businesses.

India’s Solar Energy

• The country is targeting about 450 Gigawatt (GW) of installed renewable energy capacity by 2030 – about 280 GW (over 60%) is expected from solar.
• Solar power installed capacity has increased by more than 18 times from 2.63 GW in March 2014 to 49.3 GW at the end of 2021.
• In FY22, till December 2021, India has added 7.4GW of solar power capacity, up 335% from 1.73 GW in the previous year.
• Off-grid solar power is growing at a fast pace in India, with sales of 329,000 off-grid solar products in the first half of 2021.
• In the Union Budget 2022-23, the government allocated Rs. 19,500 crores (US$ 2.57 billion) for a PLI scheme to boost the manufacturing of high-efficiency solar modules.
• Globally, India ranks fourth in renewable energy capacity and wind power and fifth in solar power capacity.
• India added a record 10 Gigawatt (GW) of solar energy to its cumulative installed capacity in 2021.
• This has been the highest 12-month capacity addition, recording nearly a 200% year-on-year growth.
• India has now surpassed 50 GW of cumulative installed solar capacity, as on 28 February 2022.
• Of the 50 GW installed solar capacity, an overwhelming 42 GW comes from ground-mounted solar photovoltaic (PV) systems, and only 6.48 GW comes from rooftop solar (RTS).
  • In 2021-22, India imported nearly $76.62 billion worth solar cells and modules from China alone.