{"id":134844,"date":"2021-09-17T20:32:30","date_gmt":"2021-09-17T15:02:30","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=134844"},"modified":"2021-09-20T11:29:10","modified_gmt":"2021-09-20T05:59:10","slug":"clean-energy-prospects-beyond-the-100gw-milestone","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/clean-energy-prospects-beyond-the-100gw-milestone\/","title":{"rendered":"Clean energy prospects beyond the 100GW milestone"},"content":{"rendered":"\n

Synopsis<\/strong>: Regular policy interventions by the government, an investment push and fiscal stimuli over the years have helped India emerge as a global front runner in the clean energy ecosystem.<\/p>\n

Introduction<\/strong><\/h5>\n

Despite the covid pandemic, steady growth has helped India cross the 100-gigawatt (GW) target of installed capacity<\/strong>. Today, we stand 4th<\/sup> in the world in terms of installed renewables capacity (fifth in solar and fourth in wind).<\/p>\n

What is the reason behind growth of renewable energy sector in India?<\/strong><\/h5>\n

Dedicated efforts by the government:<\/strong> India had set up the ministry of non-conventional energy sources in 1992 and renamed it ministry of new and renewable energy (MNRE) in 2006.<\/p>\n

Policy reforms<\/strong>: such as transparent bidding<\/strong>, waiving of inter-state transmission system charges and losses for the inter-state sale of solar and wind power for projects, and creating renewable purchase obligations<\/strong>. Also, government has given \u2018must-run\u2019 status<\/strong> to renewable energy projects, crafting liquidity packages for distribution companies.<\/p>\n

Global-scale initiatives<\/strong>: such as setting up of the International Solar Alliance on the side-lines of the Paris Climate Conference along with ambitious target of achieving 450GW of renewable energy capacity by 2030.<\/p>\n

Energy ecosystem potential :<\/strong> Estimates suggest India has over 1,050GW of renewables potential in wind and solar power alone, with wind potential at 300GW and solar at 750GW.<\/p>\n

Newer means of power generation<\/strong> such as floating solar and offshore wind projects have been introduced, storage-based systems to provide round-the-clock energy are coming into play.<\/p>\n

Efforts to digitize power grid<\/strong> are also underway. Battery costs have been falling consistently. Bloomberg estimates that it will fall by 8% every year to reach $60 by 2030.<\/p>\n

Grid connectivity:<\/strong> New renewable capacity can ensure 100% renewable energy generation for stable power to the grid. ReNew Power currently has a project under development that envisages the use of wind, solar and batteries for the stable supply<\/strong> of renewable energy.<\/p>\n

How India can ensure development in renewable energy sector?<\/strong><\/h5>\n

Foster the development of an end-to-end clean energy ecosystem<\/strong>: it will help India to become a global champion.<\/p>\n

Creating demand and providing supportive policies <\/strong>such as wind equipment-making and electrolyzer and fuel-cell manufacturing. According to the International Labour Organization, around 330,000 new jobs could be created in the renewables sector by 2022 and more than 24 million new jobs by 2030.<\/p>\n

Source:<\/strong> This post is based on the article \u201cClean energy prospects beyond the 100GW milestone<\/strong>\u201d published in Livemint<\/strong> on 17th September<\/strong> 2021<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Synopsis: Regular policy interventions by the government, an investment push and fiscal stimuli over the years have helped India emerge as a global front runner in the clean energy ecosystem. Introduction Despite the covid pandemic, steady growth has helped India cross the 100-gigawatt (GW) target of installed capacity. Today, we stand 4th in the world… Continue reading Clean energy prospects beyond the 100GW milestone<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[768,216,3222],"class_list":["post-134844","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-energy","tag-gs-paper-3","tag-renewable-energy","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700806438,"cached_date":1704871180},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/134844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=134844"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/134844\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=134844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=134844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=134844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}