siliconindia | | April 20229lenders. Majority of the banks in India are already under enormous bad debts and the surplus power is a threat to the bank as well as the nation's economy. Therefore, the solar power growth is a blessing, but can become a curse with much state of affairs.Solar power generation is great while the sun shines and stops at sunset. The power consumption soars during evening. It was also observed that the thermal power re-mains idle during the day and is ready to pick up the slack when solar production suddenly stops. Such strained idle-ness evolves huge hidden costs while estimating the solar power generation initialization procedures. If the cost of the solar equipment is decreasing then it is true that the solar power has become cheaper than coal-based power. Solar power generation is sporadic because the process is inevitable during night and on cloudy or foggy days. The Indian government is promoting solar energy through eco-nomic and promotional incentives like capital investment or interest subsidies, tax holidays on earnings for 10 years, generation based incentives, accelerated depreciation, vi-ability gap funding, and financing rooftop solar as part of home loans.India's power sector is most diversified with sources of power generation range from conventional sources such as coal, lignite, natural gas, oil, hydro and nuclear power to viable non-conventional sources such as wind, solar, and agricultural and domestic waste. The demand for electric-ity has increased rapidly and is expected to rise further in the coming years. GE Energy Financial Services (GEEFS), Greenko Energy Holdings, Private equity (PE), Mahindra and Mahindra, Hero Future Energies, Tata Capital, CDC Group Plc, Japan's JERA Co, International Finance Cor-poration (IFC) are few major investors in the development of the Indian power sector.The power sector was identified by the government of India as a major key sector to focus and promote sustained industrial growth. Pradhan Mantri Sahaj Bijli Har Ghar Yoja-na , no clearance required for solar PV (photovoltaic) power, solar thermal power projects, and solar parks, Street Lighting National programme (SLNP), Power for All program, Devel-opment of Solar Parks and Ultra Mega Solar Power Projects are few initiatives by the government of India to boost the Indian power sector. Power is one of the most critical com-ponents of infrastructure crucial for the economic growth and welfare of a country. The existence and development of adequate solar power infrastructure is essential for sustained growth of the Indian economy. India's solar power capacity is an addition to the already existing power sector creating immense opportunities in power generation, distribution, transmission, and equipment. The Indian government's im-mediate goal is to generate two trillion units of energy in the near future which is doubling the current production capac-ity to provide continuous electricity for residential, industrial, commercial and agriculture use.
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