Will domestic installations achieve the house hold needs as you mentioned? When I was in India last summer, I inquired about this. It needs a major area of the rooftop to be covered with these panels to be able to generate sufficient electricity, which people in India may not prefer. So, a major shift towards electric vehicles will see an increase in power demand. This may increase the coal imports.The other measure I suggest is to go for ultra mega solar power plants in big way. Gas based combined cycle power plants and coal based power plants should be banned from immediate effect. Currently, the tariff of solar power has reduced to less than rupees 2.5 per unit from rupees 12 to 13 a decade ago. With solar panels produced in big numbers, price of the same is will reduce further. This will bring down one unit of solar power further. It is likely to go down to around 1 rupees 60 paise to 1 rupees 70 paise per unit. If this is done in a big way, we will be able to eleminate big amount of coal import bill which is used in power plants. Gas import built can also be cut short. Gas based power plant will become obsolete and there will be no usage of gas in electricity generation. If Solar panel will become cheap with large scale production., It will be used in a big way in in household as well which will reduce electricity demand from government source.
With electric panels becoming cheap, each household will have its rooftop power plant to meet the needs of his or her household electricity. A fat electricity bill will be go away which will put extra money in every pocket to spend them somewhere else. Not only this will happen with domestic electricity consumption, but once the electric power is available cheaply, people will use the same for cooking and heating as well . We are definitely moving in this direction but some Harsh measures are required to move to this mission as quickly as possible. We can cut short big gas import bill to a large extent. If This is done , we can cut short or eliminate import bill. Our domestic gas and coal consumption will be sufficient to meet our requirements. Self sufficiency Hindi field of energy requirement is a strategic advantage too. This shitty Arab countries cannot arm twist us if we are not dependent on them for crude oil and gas.
I agree with all of that but this is about how to boost economy.Nice thread. I would like to add there is one big factor in this framework
to achieving this goal; security.
3)internal security/stability- political and religious
How many of these has India achieved??? Once these are realized
economic advancement will be lasting and long term.
Will domestic installations achieve the house hold needs as you mentioned? When I was in India last summer, I inquired about this. It needs a major area of the rooftop to be covered with these panels to be able to generate sufficient electricity, which people in India may not prefer. So, a major shift towards electric vehicles will see an increase in power demand. This may increase the coal imports.
An alternative is to setup huge solar power plants as you suggested. According to Wiki, in 2013-14, the annual generation was 3.3 TWh and in 2019-20 it is 49.45 TWh, which is a huge increase percentage wise. I am not sure how much significant this is in terms of electricity consumption and the expected increased consumption because of increased EV usage.
I am very much against wind mills for power generation. It's simple science. The breezes from the ocean/sea drive these wind mills. This means the kinetic energy of the wind is lost. The negative effect of this is that the monsoon clouds will reach lesser distances in the interiors of the country, which is bad in several ways- bad for agriculture, can lead to long-term water shortage etc.
currency devaluation comes under energy security and the price of oil. India's central bankI agree with all of that but this is about how to boost economy.
How we loose wealth if our currency is undervalued? I will give an example.
An US guy comes to India and buys four shirt at Rs 500 each i.e Rs 2000 or about USD 30. The same shop keeper goes to US with this 2000 Rupees in US and try to buy same shirt. He will have to give 30 USD for one shirt as per PPP calculation as It will purchase power of Indian Rupee is 4 time laser than Nominal value. So from amount, shop keeper will buy only one shirt against 4 he sold for same amount. This is the reason why US is very rich. We pay Rs 70 for one liter Petrol while An american pays only USD 1. It is very easy to earn USD 1 compared to earning Rs 70 in India. A country can not be prosperous till its currency is valued much bellow its purchase price as it will keep loosing wealth in every International transaction. That is why it is very important that our currency is valued at right amount as per its purchase power.
To stop loosing wealth, strengthening of currency is very much essential. Therefore it is very much necessary that we restrict imports in particular. I won't say that we should focus primarily on export though it is desirable. Our focus should be import from those nations like Vietnam whose currency is Undervalued compared to ours so that we can buy a lots of goods from a amount of outflow of money. We should export to those nations like US whose currency is overvalued compared to That of India. Our prime focus should be on export of services which doesn't exhaust any resources. This is the reason why I have Primarily focused on containing import and find its substitutes.
I think of an international currency for a long time. Its value should be derived from the price of different materials in that country such as gold, iron, crude oil , different food grains etc. Russia, for the reason of US toying with Russian currency, is now preferring to trade in other currencies.currency devaluation comes under energy security and the price of oil. India's central bank
is tied to international standards and it has little say or control in the matter. This is why BRIC's
wanted an alternate currency and things like BITCOIN have popped up. There is also increasing
pressure by China on the petrodollar which will impact all currency worldwide.
Understanding the Correlation of Oil and Currency
when your currency is used you have power/control over the userI think of an international currency for a long time. Its value should be derived from the price of different materials in that country such as gold, iron, crude oil , different food grains etc. Russia, for the reason of US toying with Russian currency, is now preferring to trade in other currencies.
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