Issues And Challenges In The Solar Energy Sector For Its Development And Utilization Globally With A Comparative Analysis Between India And German

Abstract

In the late 20^th-century deregulation and opening of the power market to private players were done in several regions of the world. This was a necessity due to a plethora of reports globally, which suggests that the availability of Conventional source of energy is an all-time favourite but due to availability in a limited capacity, their shift from conventional sources to non-conventional sources should be more important. Government is more focused toward to harness non-conventional sources and those smart policies may be introduced. Smart policies for the smart grid are one of the key elements in developing and harnessing the solar energy sector in India and other countries. FIT is one of its which is responsible for setting up energy prices and the tariff related. The best part of FIT is to create a balance between green energy producers and consumers. Fit is most prominent in Germany, U.S., Spain, and Italy.  However, this study is to check the FIT status quo and its prospects to develop the solar energy sector in India and Germany. Moreover, the existing literature underestimates the potential impact of FIT. In India, this FIT is a fixed payment given by Discoms to Producers under long-duration contracts and decided by the central and state-level authorities. The current study checks the effectiveness of FIT in the Indian Legal system and reflects its future growth along with its non-compliance which leads to creating hindrance in the evolution of the Solar sector.