| | JULY 20228INDUSTRY INSIGHTSS olar' is the Latin word for the `Sun' and it's a powerful source of energy. We all know the Sun is the biggest source of energy on the planet and for thousands of years human spe-cies depended on solar energy to heat their homes, to have hot water and also to cook their food. Due to population explosion & technological advance-ments, the demand of World's energy is growing day-by-day and almost all the World's economies are focusing for a reliable, cost-effective and everlast-ing renewable energy source to meet-out the present energy demand and arising in future. The primary source of all energy on planet Earth is from the sun. Solar power can be used for heat energy or can also be converted into Electric en-ergy through solar panels. When we use solar power, we don't use any of the Earth's resources like coal or fossil oil. Among other available renewable sources of energy, solar energy is a promising and freely available energy source which will resolve the entire future energy crisis to be faced by the mankind on the planet. The biggest advantages of solar power include the energy indepen-dence, quiet energy production, envi-ronment friendly, and its overall cost. But it has high initial cost and depends on clear weather; it's not always avail-able, and methods of storage & stop-gap are required for when it is cloudy or raining outside.Solar industry is developing pro-gressively all over the world because of the high demand for energy and a low cost, environmental friendly rather than zero carbon emission source. The world now understood that fossil fuel is limited and other sources are expen-sive. It has become a tool which recog-nizes a country as an economic devel-oped status. The developing countries like India & Brazil having higher population are being widely impacted economies by higher spending of foreign currency for its import of fossil fuel and their refin-ing and distribution. At present in India, the rate of Petrol and Diesel (Petrol at an average of 72 per litre and Diesel at around 70 in metro cities) is increasing day-by-day and they are making high records each day impacting not only the balance of payments, but also causing inflation in the economy, devaluation of rupee as close to INR 70 against one dollar, and affecting the daily life of common men.The developing countries now very well understood that to sustain in the inflated market conditions and uplift the lives of their underprivileged popu-lation, solar energy is the only cost-ef-fective source and the solar industry would undeniably be the best choice for future energy demand, since it is longer in terms of availability, cost effi-ciency, obtainability, capacity and effi-ciency as compared to other renewable sources of energy. In a research, Scientists found that the Sunlight that shines on the Earth in just one hour could meet world's energy demand for an entire year. In fact developed countries like Germany, U.S. receive close to 30 percent of their electricity from the Sun, which demon-strates that renewable energy such as solar is quite capable of displacing tra-ditional fuel (Diesel/Petrol/Gasoline) sources when a determined effort is made.The fastest growing source of CO2 globally is our transport system; the world's car population could reach close to 2.8 billion by 2050, which clearly show that 90 million barrels of oil pro-duced globally each day could rise to 125 million barrels. This global problem can be managed by switching to electric cars, which is a big game-changer. The world car manufacturers started elec-tric cars to run on (battery).SOLAR ENERGY: SAVE THE PLANET EARTHBy Anoop Kumar Garg, Deputy General Manager - Corporate Legal, Aircel
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