Naik Drives India Energy Transition at Virtual Summit

Solar Power Congress 2026 Showcases 1,200 Industry Players

The ET Energyworld Solar Power Congress 2026 kicked off in New Delhi on 12 March 2026, gathering more than 1,200 participants from across the globe, including manufacturers, financiers and policy makers.

The event, held at Pragati Maidan, served as a prelude to the later summit, allowing industry to showcase the latest photovoltaic technologies and storage solutions.

"We are witnessing a paradigm shift where solar is no longer a niche market but the backbone of India's power mix," said Rajat Sharma, senior analyst at the Centre for Energy Studies.

• Over 300 new solar projects announced, totaling 12 GW capacity • Investment pledges worth ₹45 lakh crore from domestic and foreign firms • Record attendance of 1,200+ delegates, official data shows

The exhibition floor buzzed with demonstrations of bifacial modules, perovskite‑silicon tandem cells and AI‑driven grid management tools.

Experts said the convergence of cheaper solar panels and falling battery costs could bring the levelised cost of electricity (LCOE) for solar below ₹2 per kilowatt‑hour by 2028.

State officials from Gujarat, Karnataka and Tamil Nadu used the platform to sign MoUs worth ₹8 lakh crore for solar park development.

Witnesses reported long queues at the financing pavilion, where banks unveiled green loan products with interest rates as low as 6.5 % per annum.

The congress also featured a panel on "Solar for the Un‑Electrified," where NGOs highlighted the impact of solar lanterns on women's safety in villages across Uttar Pradesh.

By the end of the three‑day event, the Ministry of New and Renewable Energy announced a fast‑track approval process for solar projects up to 500 MW, cutting clearances from 18 months to six.

Gujarat and Tamil Nadu Commit 20 GW Solar by 2025

In a coordinated move announced at the summit, the governments of Gujarat and Tamil Nadu pledged to add a combined 20 GW of solar capacity by 2025, a commitment that could power over 30 million homes.

Gujarat's Chief Minister Bhupendrabhai Patel, speaking from Ahmedabad, said, "Our state will lead the nation in solar manufacturing and deployment, creating jobs and reducing dependence on coal."

Tamil Nadu's Energy Minister K.N. Nehru added, "We are unlocking land and streamlining clearances to attract private investment in solar parks."

• Gujarat: 12 GW new solar projects slated • Tamil Nadu: 8 GW new solar projects slated • Expected job creation: 250,000 direct and indirect positions, according to state labour department estimates

The two states together account for 15 % of India's total installed renewable capacity, making their pledge a critical piece of the national target.

Officials said the projects will be financed through a mix of green bonds, state‑level incentives and central‑government subsidies.

Sources confirmed that the Gujarat pledge includes a ₹2 lakh crore allocation for solar panel manufacturing clusters in the Kutch region.

In Tamil Nadu, the government will provide land parcels of up to 1,500 hectares for utility‑scale solar farms, with a focus on the arid districts of Dharmapuri and Krishnagiri.

Local farmers in both states expressed optimism, noting that lease agreements could bring an additional income of ₹1.2 lakh per hectare per year.

However, experts warned that grid integration challenges could arise if transmission upgrades lag behind generation capacity.

The Ministry of Power has therefore earmarked ₹45 billion for high‑voltage transmission lines linking the new solar parks to major load centres.

Green Hydrogen Funding Hits ₹1.5 Lakh Crore

A landmark announcement at the summit was the allocation of ₹1.5 lakh crore for green hydrogen projects, marking the largest single‑year commitment by the Indian government to this emerging sector.

The funding will support the construction of electrolysis plants, storage facilities and a dedicated hydrogen pipeline network spanning 4,000 km.

"Hydrogen will be the bridge fuel that decarbonises heavy industry and transport, and this investment puts India at the forefront of the global race," Naik said during his address.

• ₹1.5 lakh crore earmarked for green hydrogen • Target: 30 GW of electrolyzer capacity by 2032 • Expected reduction in CO₂ emissions: 12 million tonnes per year, official estimates

The plan includes a 30 % subsidy for electrolyzer manufacturers, encouraging domestic firms to scale up production.

Experts said the move could attract foreign direct investment of up to $10 billion, especially from Japan and Germany, which are keen on securing low‑cost renewable hydrogen.

Sources confirmed that the Ministry of New and Renewable Energy will launch a competitive bidding process in Q1 2027, with the first projects slated for commissioning by 2029.

Industry leaders from Reliance Industries and Adani Green Energy have already expressed interest, signalling a potential surge in green hydrogen exports to Southeast Asia.

Critics, however, caution that the high cost of renewable electricity could make green hydrogen less competitive unless the solar and wind tariffs continue to fall.

The government plans to address this by linking hydrogen subsidies to the average renewable power cost, a mechanism officials said will be refined after the first fiscal year.

Households Feel Price Relief as Subsidies Expand

Beyond the headline numbers, the summit's policies promise tangible relief for ordinary Indians facing soaring electricity bills.

The Ministry announced an expansion of the existing rooftop solar subsidy, raising the ceiling from ₹1 lakh to ₹1.5 lakh per kilowatt for low‑income households.

"A family that installs a 3 kW system can now save up to ₹6,000 per month on their electricity bill," explained Anjali Mehta, a senior policy analyst with the Energy Policy Forum.

• Subsidy ceiling increased to ₹1.5 lakh/kW • Expected monthly savings for a typical 3 kW rooftop system: ₹6,000 • Targeted households: 8 million low‑income families, official figures show

The scheme also introduces a zero‑interest loan facility through public sector banks, allowing households to repay the upfront cost over ten years.

Sources confirmed that the first batch of loans, worth ₹2 billion, will be disbursed in October 2026.

In Delhi's Anand Nagar, a resident named Rajesh Kumar installed a rooftop system last month and reported a 20 % drop in his monthly bill.

"The subsidy made it affordable, and the loan terms are generous," he said, smiling.

Similar stories are emerging from villages in Bihar, where community solar projects are being financed under the new scheme, providing reliable power for schools and health centres.

Experts said that if the subsidy reaches its target, cumulative savings across the country could exceed ₹1.2 lakh crore annually, easing the financial strain on middle‑class families.

Opposition Voices Skepticism Over Funding Gaps

While the government celebrated the announcements, opposition parties raised concerns about the feasibility of the funding commitments.

The Bharatiya Janata Party's (BJP) senior leader Amit Shah, speaking from Mumbai, warned that "the promised ₹1.5 lakh crore for green hydrogen could strain the fiscal deficit if not matched by private investment."

He also questioned the timeline for the 450 GW renewable target, citing past delays in project clearances.

Officials said the Ministry has already set up a dedicated task force to monitor fund disbursement and to ensure that projects meet milestones.

Sources confirmed that the task force will report quarterly to the Finance Ministry, providing transparency on the utilization of the allocated capital.

The opposition also highlighted the need for stronger state‑level coordination, noting that several states have yet to submit detailed implementation plans for the solar pledges.

In response, Gujarat's Chief Minister Patel asserted that his state had already cleared 85 % of the required land parcels and that the remaining hurdles were bureaucratic, not financial.

Analysts pointed out that the success of the initiatives will hinge on the ability to attract foreign capital, especially given the current rupee‑dollar volatility, which has pushed the cost of imported solar equipment up by 12 % since early 2026.

Nonetheless, the debate has sparked a broader conversation about fiscal prudence and the need for robust monitoring mechanisms.

Experts Forecast Job Surge in Renewable Sector

Economic analysts predict that the policies unveiled at the summit could generate a massive employment boom, with estimates ranging from 3 to 4 million new jobs by 2030.

"The renewable energy push is set to become the largest job creator in India's post‑pandemic recovery," said Sunita Rao, chief economist at the Indian Institute of Development Studies.

• Projected direct jobs in solar and wind: 2.2 million • Indirect jobs in manufacturing, logistics and services: 1.5 million • Expected increase in rural household incomes: 8 % on average, according to a recent government survey

The green hydrogen initiative alone is expected to add 500,000 skilled positions in engineering, operations and maintenance.

Sources confirmed that training institutes in Hyderabad and Pune are already scaling up curricula to meet the demand for electrolyzer technicians and hydrogen safety officers.

In the industrial corridor of Gujarat, a new electrolyzer plant is slated to employ 2,000 workers in its first phase, with plans to double the workforce within three years.

Meanwhile, the solar manufacturing clusters in Kutch are projected to create 1.1 million jobs across the value chain, from wafer production to module assembly.

Rural entrepreneurs are also eyeing opportunities in micro‑grid installations, with the government offering a 20 % grant for community‑owned solar projects.

Experts said that the job surge could help curb urban migration, as young people find viable careers in their hometowns.

The Ministry of Labour has pledged to launch a national certification program by early 2027, ensuring that the workforce meets international safety and quality standards.