Amidst the ongoing concern about the effects of global warming, the world is going green by switching to alternative means of energy, particularly solar energy. Technological developments leading to reduced costs and increased power generation efficiency could make solar power a viable alternative for the future.

Power hungry India can meet some of its growing needs by developing renewable sources of energy, wherein solar energy is one of the promising options. With acute shortage of energy, India is heavily depending on oil imports. Solar energy is a clean, renewable source that can meet energy requirements over the long run. Unlike conventional electricity, it is free from transmission and distribution losses. However, the fact remains that development of solar power in India has been far from significant. The only area where there is perceptible progress is in solar water heating. However, over the last two years, corporates have invested heavily in this sector and till date, total investments have been around Rs. 50,000 cr. Considering the fact that solar power is environmentally clean, companies see it as the next great business in the making.

Corporates like Suzlon, Enercon, Vestas, Exide, Tata BP Solar, Texaco, Sharp BP Group and Moser Baer have already entered this sector, particularly in the background of global warming becoming the driving phenomenon.

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