Year End Roundup for 2020 and Projections for 2021: Suntuity REI

The year 2020 has been a tumultuous year for industries across the spectrum with the pandemic bringing the world to a standstill. Every walk of life was affected due to the novel coronavirus and many corporates were forced to shut down or downsize. However, given the national contagion and anti - China sentiments, the sun has shone bright on the solar sector opening up a new universe of opportunities to thrive, grow and augment its global footprint.

Also, given the growing eco - consciousness among Indians and the government's increasing efforts towards its global climate change commitments, many industries have understood the importance of clean energy. They have come to believe in the advantages of solar power installations and that the transition to this sustainable source of energy can help cut costs and maximize revenues in the long run. With India Inc. encouraging adoption of solar power and adequate government support and policies in place, the solar sector is anticipated to grow substantially in 2021 thus creating more employment opportunities. Also, with focus on establishing India as a manufacturing hub of various goods, leveraging its solar expertise to help small island nations and the multiple green energy projects, the solar industry will change the game for the Indian economy.

According to Imaan Javan, Director of Operations, Suntuity REI, “India is still at a very nascent stage when it comes to renewable energy. However, with sufficient Government policies, support and schemes in place and educating people on the advantages of clean and sustainable energy, I believe that we can definitely achieve our RE target of 175 GW by 2022. Though we have already seen various measures from the Government like Safeguard Duty, “One Sun One World One Grid” initiative, Anti- Dumping Duty, Vocal for Local and Make in India, more strict imposition of these policies will help India be at par with her global counterparts and penetrate into the world market.