India no doubt is among the top-ranking countries when it comes to renewable energy. Installed renewable power generation has increased at a fast pace over a couple of years. As of research carried out in November 2020, India has already reached 38% of electricity consumption which is from renewable resources. The total installed energy amounts to 90+ GW with a break up of wind power at 38.43 GW, solar power at 36.91 GW, BioPower at 10.31 GW, and Small Hydro Power: 4.74 GW. The renewable energy system almost doubled in 2020 and with government support and increased investment, this segment is on the road to becoming the largest contributor to renewables in a few years to come. Here, Boaz Augustin, founder of Borg Energy India, and renewable energy expert delve deeper into renewable energy in India. Read on!
A self–reliant nation
Since the time of the Modi government, a lot has been put in place to promote the growth of the nation and make it part of a bigger global economy. One of these is Atmanirbhar Bharat, a policy formulated by the Prime Minister which means or translated to an “ a self-reliant India” or “ a self-sufficient”. “ This does not mean to stay aloof, enclosed, or to cut off India from the rest of the world. But rather the aim is to become more self-sufficient and self-generating while making a huge impact on the global economy. For this, India has to pursue policies that improve efficiency, promote competitiveness, and resiliency” Borg Energy explains.
Although the initiative was first announced during the wake of the COVID 19 crisis, a conclave was also held in June 2020 in a bid to promote the renewable energy market segment. Under this, the shakers and movers of the industry together with the stakeholders deliberate on how the renewable energy sector can be driven forward. The purpose is to make India self-reliant while reducing dependency on the importation of solar modules and their components. Moreover, with the recent China-India border tension, the need to strengthen the domestic capability in order to achieve energy self-reliance and security has become all the more important.
As the renewable energy sector has been extended to the interior interiors, demand will increase and the segment is expected to double in the next 12 years.
Other government initiatives as a means to boost renewable energy
Self-reliant India is only a part of the initiatives the government has set up to ensure the nation becomes energy sufficient. Other initiatives and plan put in place include:
In August 2020, India plans to offer land near its major ports to companies for building solar equipment. India beliefs that accessibility to a port will not make it more efficient and cost-effective to manufacture solar equipment but will also promote exports. The aim is still on the matter of becoming self-reliant and to woo renewable energy companies shifting from China to facilitate manufacturing in India.
For areas such as Gujarat and Rajasthan known for their sunny, windy, and arid expanse, India plans to build 30 gigawatts of renewable energy along a desert of its western borders. Those that are aware of the plan said they are all a bid to expand the nation’s renewable energy capacity and reduce the shares of fossil fuels in its energy mix. The news has not yet been officially shared and it’s still in its early stage, Bloomberg reported.
Moreover, the Delhi cabinet has decided that the thermal power plant in Rajghat be shut down and develop into a solar park. Power generation was initially stopped in the area in 2015 due to population and the government is set to officially shut down and 45-acre land will be converted to a 5,000 KW solar electricity. A great solution for an ever energy-hungry city Says, Borg Energy India.
The revised 2019-2020 budget for Rajasthan has introduced grants to promote the renewable energy sector and win over more investors in renewables. Solar energy has been exempted from the electricity duty and focuses on the utilization of solar power in agriculture and public health sectors. The center plans to help Rajasthan reach almost 2300MW rooftop solar capacity by 2022.
A modified hydro-policy for 2018–28has bring about approval to the policy on Hydro Power Development. The aim is to prevent a decline in hydro share and promote its growth in the nation.