The Cabinet Committee on Economic Affairs plans to double the capacity of solar power installed in dedicated solar parks to 40 gigawatts by 2020, with the goal of creating a base of 100 gigawatts by 2022. Expansion of solar power capacity is among the more efficient means to meet the commitment to keep carbon emissions in check under the Paris Agreement on climate change, and it can provide the multiplier effect of creating additional employment, with overall economic dividends. Asia has harnessed the potential the most, providing 60% of all renewable energy employment, while China enjoys the bulk of this with a thriving solar photovoltaic and thermal manufacturing industry, besides installations.The trend in some emerging economies, including India, has been a reduction in public financing of renewable energy projects over the last five years. This is crucial to achieving the overall goal of 100 GW from this plentiful source of energy by 2022, and to raise the share of renewables in the total energy mix to 40 per cent in the next decade.
