While addressing at the International Solar Alliance (ISA) at Delhi’s Rashtra Bhavan, PM Modi emphasizes to provide low-cost electricity and maximum utilization of solar energy.  He further announced that India is all set to produce 175 gigawatts of electricity from renewable resources by 2022.  Ingeminating the government’s initiative to provide cost-effective electricity, he said around 28 crore LED bulbs have been distributed in the last three years that have saved approximately two billion dollars and at least 4GW of electricity.

Besides, PM Modi also presented 10 action points to enhance solar productivity. He also raised concern for concession financing, use of affordable technology and research to increase solar proportion in our energy mix.

He further said that solar solutions are the way to encourage innovation. He also stressed on the development of regulatory aspects and standards. “We have to encourage innovation so that solar solutions may be provided for diversified uses. Regulatory aspects and standards need to be revised and developed to adopt solar solutions and speed up their development.

According to sources, the solar industry in India is under the horizons of massive expansion, as the government has planned to set up $ 350 million fund to finance the projects related to solar sector.