5 Factors Drive Solar Adoption In Emerging Economies

Energy Security and Independence

Solar energy has to be introduced to the entire world as clean energy, and one of the key elements that drives the world's transition to energy security and independence is the application of solar energy in emerging economies. In such regions, which often suffer from unreliable energy supplies and largely depend on costly traditional fuel sources, solar energy may be seen as an environmentally friendly asset and a way to self-determine and secure energy futures. India has seen significant impact in its solar projects. India also opened the Bhadla Solar Park in Rajasthan, the largest solar park in the world providing 2245 MW in 2021. This single project will result in an enormous decrease in the demand for imported fossil fuels and will also create thousands of jobs and boost economies at the same time. The data really speaks to a 30% increase in local job creation or a 15% reduction in energy costs in the environs. Africa is one other instance the place the solar vitality is actually altering the facility scene. Countries like Kenya and Nigeria are investing heavily in solar technology, too, as a counter to the continuous power outages and fuel scarcity they often experience. And in Kenya, the Garissa Solar Plant generates 50 MW, enough to power more than 200,000 homes while saving 43,000 tonnes of CO2 per annum. In South America, they also went for solar and Brazil is the leading country in their region. The Nova Olinda Solar Park in Brazil having 292 MW capacity generates enough power to cover 300,000 homes and is Brazil's contribution to its international commitment to reduce greenhouse gas emissions by 43% by 2030 against 2005.

Reducing Costs of PV Technology

Dramatic cost decreases in photovoltaic (PV) technology have been a leading enabler for the recent surge of solar energy adoption especially in emerging economies. Reductions in costs for solar assume a number of factors that were indeed very high as recently as a decade ago - thanks to advances in technology and industrial processes that have driven down these costs substantially - but these factors make solar a likely option in these areas increasingly. The price of solar panels has fallen over by 80% since 2010. This cost reduction is due to advancements in the manufacturing process and the increased competitive pressure on the market. Economies of scale for the mass-production facilities of China led to a decrease in the global market prices for solar panels. Special innovative financing models, too, have a considerable role in it. The use of micro-financing options to pay for solar panel installations in Bangladesh has made it possible for households and small businesses to convert to solar power. That program has facilitated the deployment of more than 4 million solar home systems, the largest and most successful green energy program at the grass-roots level globally. Even with declining pricesrising installations, technological gains in PV cell efficiency have driven costs further down. Better performing PV cells have been examined, increasing the efficiency of the equipment from approximately 15% to in excess of 22%. This will allow fewer panels to be used to create the same amount of power thus reducing the overall cost of the systems installed.

Local and International Support

The introduction of initiatives at both the local and international levels has accelerated the trend of solar energy adoption in emerging economies. These supports are in form of policy frameworks to financial incentives, collectively making the solar projects more attractive and feasible. This would have been impossible without government subsidies, tax incentives. In Brazil the government has reduced taxes on imported solar panels and offers financial incentives to produce solar energy. This has sparked a solar surge, with solar power generation capacity in Brazil doubling in the last two years. International grants and technical assistance have a role as well. With entities such as the International Solar Alliance (ISA), started by India and France (for which member countries are provided capital as well as technical knowledge to set up solar power infrastructure for their citizens. Some of its projects in Africa have been helped by an alliance that we may yet come to regard as a leap forward in how the world handles development: the solar mini-grid alliance. Large-scale solar deployments are the result of public-private partnerships. This provides useful context for South Africa's Renewable Energy Independent Power Producer Procurement Programme (REIPPPP), which has made use of private sector expertise and capital to build renewable energy projects at scale. The move added 2,300 MW of solar power to the national grid.

Rapid Urbanization and Demand for Clean Energy

Where growing economies are turning into megacities and the stress for sustainable, clean power such as solar becomes more acute. Large cities are heavy consumers of energy and can provide the big engine for demand as well as offer sources of solar, wind or other alternative energy. Chinese cities have been at the helm of incorporating solar power into city infrastructure. Shenzhen has installed over 10,000 buildings with solar power panels for their own use which has drastically contributed to the reduction of the carbon footprints of the city/s atmosphere. Is one part of China's larger goal of deriving 20 percent of its energy from renewables by 2030. Solar energy is baked into India's urban development blueprints like the Building Energy Efficiency Codes and the Smart Cities Mission. Kochi and Ahmedabad are among the cities that have initiated plans to install PV on a large scale over public buildings and transportation. It is with the Kochi Metro Rail - touted as one of the first metro projects in the world to run on complete solar power, so far as the requirements of stations are concerned. Government policies and community initiatives back the choice of solar energy amongst these urban centers. Local governments offer incentives for putting solar panels on your building, discounts on your property taxes. Indicating a grassroots movement towards renewables, shared solar projects where residents pool resources to invest in local solar energy are also growing fast.

Integration of Solar Energy with Existing Energy Policies

Solar is interconnecting with traditional energy systems of more and more emerging economies, which are formulating their own mixes of policies for solar, balancing solar access with energy security and sustainable development. Morocco is a case in point, with its national energy strategy setting a target of 42 per cent of its electricity to be generated from renewables by 2030, of which solar energy will play a key part. This policy in action: the largest solar power station in the world is the Noor Ouarzazate Solar Complex. It powers at least a million people, and in one dramatic swoop, it cuts the country's carbon emissions. The integration of solargenerated electricity into the national grid would be made possible under Mexico's Energy Transition Law. These mechanisms include net metering and feed-in tariffs which essentially allow owners of residential and commercial solar systems to sell surplus power back to the grid. Aside from merely increasing solar power installation rates, these policies have also made solar investments more appealing. In the Philippines, solar installations enjoy tax breaks and duty-free imports of solar equipment under the Renewable Energy Act of 2008. These provisions have indeed hastened solar farm deployment across the archipelago while also promoting small-scale installations in residential and rural areas. This has made solar energy a major part of its energy mix, which will be in line with its target of having renewable energy 3 times by 2030.