Economic Development through Renewable Energy Integration: The Role of Solar Photovoltaic Systems in India

Abstract

Renewable energy sources especially use of systems such as the solar photovoltaics are therefore essential in developing economies and especially for the Indian economy. This paper aims to establish the role which will be played by the solar PV system as a tool that will boost the economy of India. Through a review of current literature in academic databases, government and policy documents, and the analysis of business intelligence data, it identifies the advantages and drawbacks of the global solar PV market. Some of the important dimensions discussed are employment opportunity, technology advancement, energy security, and environmental friendliness. The results point out that the advancement of solar PV integration could greatly improve the position of the Indian energy and contribute positively to long-term economic growth. Looking at overall power sector benefits and comprehensive social benefits more research and policy recommendations for the use of solar PV systems in India are proposed.