While there have been lots of money spent on SPV option, CSP technology or Concentrated Solar Power Plants have recently started getting lots of lots of attention in the Clean Tech Industry. CSP uses focussed mirrors to deflect solar radiation on to the special fluids which in turn gets heated up and is used for generation of steam which powers turbines and generators which produces electricity. Every other country which is preparing for energy security and focussing on clean tech industry is hopping on to the CSP bandwagon.
US Energy Department has announced new investments for 21 total projects to further advance cutting-edge CSP technologies. These investments span a total of $56 million over three years. This is another effort to strengthen the SunShot initiative of US Dept of Energy, a collaborative national effort to make solar power cost-competitive with traditional energy sources by the end of the decade.
Now coming to India’s perspective, India today needs huge investments in CleanTech industry to power its growth. While excessive reliance on fossil fuels may leave us in dreadful state, more and stronger emphasis on CleanTech options would definitely go a long way in improving India’s image.