Prime Minister Narendra Modi on Tuesday stressed on the need to reduce the cost of solar power in order to boost the use and expansion of renewable energy, adding new technologies will help in this regard.
In a statement delivered by Power Minister RK Singh during the first World Solar Technology Summit (WSTS) of International Solar Alliance (ISA), the Prime Minister said, “Technology holds the key to scale up the use of solar energy. Technological advancements have already brought about a significant reduction in the price of solar power. A further reduction in the cost will provide a major boost to the use and expansion of renewable energy.”
India, which has already scaled up its non-fossil fuel-based power generation to 134 gigawatts (GW)—about 35 per cent of the country’s total power generation capacity—is “confident” of increasing its renewable capacity to 220 GW by 2022. “We want to take renewable energy to every village in the country,” he said.
The Prime Minister’s statement also touched upon India’s capacity building support to ISA member countries through its ITEC training programme. “We have also set up a Project Preparation Facility to develop bankable Solar Energy projects in ISA member countries with the help of EXIM Bank of India,” he said.
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