Abstract
Scientific advances and technological changes are new key partners of economic growth anddevelopment. Scientific innovation has become a new source of wealth creation, improvementin quality of life and social wellbeing. India as a developing nation is facing many economicgrowth and development challenges like unemployment, poverty, hunger, scarcity ofresources, etc. To overcome these problems, new scientific innovations in the field ofrenewable energy can provide useful solutions. In the above context, economic analysis ofJawaharlal Nehru National Solar Mission (NSM) launched in 2010 by GOI is quite relevant.The NSM provide cheap and clean source of energy and job opportunities in India. The aim ofthis paper is to analysis NSM and other solar projects from various aspects of economicgrowth and to explore areas of investment for scientific innovation in such type of projects.This study is explanatory in nature. This study concludes positively that the development ofsolar energy can give solutions to many economic problems of rural electrification,unemployment, climate change, regional development, etc. Thus, India with its increasingpopulation and limited natural resources needs to use solar energy innovatively to achieve allround development.
Highlights
India as a developing nation is facing many economic growth and development challenges like unemployment, poverty, and hunger, scarcity of resources and energy scarcity which is restricting its growth
Jawaharlal Nehru National Solar Mission (JNNSM) Jawaharlal Nehru National Solar Mission is the major initiative of the Government of India with a significant participation of state to promote eco energy and sustainable energy growth
The JNNSM launched on 11 January 2010 by Prime Minister Dr Manmohan Singh with the target of developing 22,000 (MW) of solar energy capacity by 2022
Summary
India as a developing nation is facing many economic growth and development challenges like unemployment, poverty, and hunger, scarcity of resources and energy scarcity which is restricting its growth. To overcome these problems, new scientific innovations in the field of renewable energy can provide useful solutions. Because of its location between the tropic of cancer and the equator, India has an average annual temperature between 25 degree C – 27 degree C This means that India has huge solar potential. Jawaharlal Nehru National Solar Mission is the major initiative of the Government of India with a significant participation of state to promote eco energy and sustainable energy growth. The JNNSM launched on 11 January 2010 by Prime Minister Dr Manmohan Singh with the target of developing 22,000 (MW) of solar energy capacity by 2022
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