China Coal Crisis and Impact on Indian Solar Energy Market

So, from recent news, we hear about the China coal crisis, .i.e., there is a massive coal shortage in China. Things are not good in china. Due to the power crisis, the factories are shut down. Due to the factory shut down, the global supply chain has also got affected. The situation is so harsh that the government has to switch off the household power during the daytime and people in China depend on the sunlight. Even they are not getting power supply in night times.

According to the reports, China is the biggest producer and purchaser of coal in the world. In 2019, China produced 3,850 million tons and devoured 3,956 million tons. Coal power has been the prevailing wellspring of energy used to fuel China’s quick monetary improvement in the beyond twenty years, with a binding effect on its actual climate and human populace. China depends on coal power for roughly 70-80% of its energy, with 45% utilized for the modern area and the rest to create power. China and India are the world’s biggest Producer and buyers of coal. Petroleum derivative records for around 70% of India’s power generation, while 5% of China’s power is created by consuming coal.

Now, here the question arises: from the current scenario, will India also face a vast coal crisis like China, or will India overcome this situation before that. Because of the recent news, many states, including Delhi, Punjab, and Rajasthan, have raised concerns about potential blackouts due to low coal inventory at thermal power plants. Rajasthan, Punjab, and Bihar have already reported load shedding due to thermal power plants operating at low capacity.
The Prime Minister’s Office reviewed the coal stock situation in India’s thermal power plants in a meeting with senior officers of the coal and power ministries. India’s thermal power plants currently have an average of four days’ worth of coal stock against a recommended level of 15-30 days, with several states highlighting concerns about blackouts due to the coal shortage.
According to the coal statistics published by India Power Pulse for September 2021, coal production stood at 52 million tons (MT)– a 7% growth year-over-year (YoY). Higher coal generation aided by higher demand has led to sharp depletion in inventory by 10 MT.
Coal imports in the first half (1H) of FY 2021-2022 were estimated at 106 MT. Thermal coal imports have slowed down to 9 MT against a 14 MT per month run rate. In FY 21, India’s coal import stood at 215 MT (against 247 MT in FY 20). The overall coal production went down 2% in FY 21.
According to India Ratings and Research, coal prices have seen a sharp rise and are likely to remain high in the short term.
So, from the recent news updates, we can assume that India is trying to find the best substitute for fighting out the upcoming problems. However, there are many ways to come out with this situation, and one of the solutions is the use of solar energy. We can save a tremendous amount of coal and protect our country from the impending crisis by using solar energy.
Ten years prior, the solar energy force scarcely existed in India. Presently the nation is adding more generation capacity from solar as compared to coal. The current coal supply may incite Indian Prime minister Narendra Modi to pull together endeavours on his objective to change India into an “energy-free” country by 2047, with less dependence on petroleum products. Be that as it may, the public authority has reported elevated focuses on introducing 175 GW of environmentally friendly power by 2022 and 450 GW by 2030. , So from the current scenario, it can be seen that solar power will prove to be the best solution in recent times. Additionally, electricity from daylight costs less to produce in India than from coal, a sign the perfect energy source will assume a critical part as non-industrial countries work out their force frameworks.

The value decreases in solar panels, and the power they produce is shocking the business. In the previous decade, solar power has developed from under 1% of the world’s electric-power ability to an expected 9% before the current year’s over. As per the International Energy Agency, an intergovernmental association zeroed in on energy strategy. By 2040, the IEA hopes to develop to 24%, making solar power the primary single energy source.
India has expanded the measure of solar power. It has introduced 10-overlap in the beyond five years, to 32 gigawatts. The public authority wants to significantly increase that in the following few years—perhaps the quickest speed of development anyplace. Last year, India’s leader said he needs 450 gigawatts of an environmentally friendly power, including solar, introduced by 2030.
India has, as of now, showing it can grow its solar capacity far quicker than anybody would have anticipated.
So, by observing the current situation, switching to solar energy will be the best option in the present and future. The coal crisis has come up with very positive news to people who wish to rely on renewable energy resources and convert their houses to solar power. Also, the increase in the coal crisis has led to a significant impact on the solar energy market. Now, a new decade will come with a sign of a clean energy source, or we can say solar energy source.