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Dear Readers,
The closure of the financial year 2023-24 has bought a bustle in renewable energy markets. There have been consistent developments in the RE sectors towards meeting various national commitments, and improving energy access and reliability. Current developments seem to hint at a disproportionate domination of solar energy generation, a concerted effort towards meeting 2030 goals will require further exploring DRE opportunities and developing a robust market-led regulatory architecture for emerging clean energy technologies. We present below, selected publications highlighting state of developments in RE segments on financial, manufacturing capacity and renewable power off-take.
In terms of share of renewable energy generation, solar energy continues to dominate the generation capacity. Recording an impressive 58 percent share in February 2024 compared with 56 percent (January 2024) and 51 percent (December 2023). Underscoring the relevance of favorable regulations and market-oriented policies in the solar energy sector which has made solar energy cost-competitive.
To improve localized manufacturing of solar modules and prevent reliance on PV module imports, the Centre may consider re-imposing restrictions on importing PV modules. Previously, under the Approved List of Module Manufacturers (ALMM) order 2021, use of ALMM specified modules and manufacturers for government projects was mandated. However, the rule was kept in abeyance till March 2024 and may be imposed from 1st April 2024 onwards.
To further boost financial borrowing in the renewable energy sector, renewable energy regulator IREDA has approved a financial lending programme for nearly 24,000 Crores INR to be available via various debt instruments. This will expand and open existing as well as new lines of credits from national and international agencies. Thus, enabling Indian RE landscape to raise funds from various financial markets.
Currently, despite mandating progressive Renewable Purchase Obligations to off-take RE power the performance of various DISCOMS utilities has not been promising. To address this gap, Niti-Aayog has released a new report titled ‘Renewable Energy Resource Adequacy Planning to meet RPO by the States in India’ in February of this year to meet RPO adequacy from 24 percent (2023) to 44 percent (2030). These obligations will be crucial in meeting energy and climate action goals by 2030. The estimate will be useful to develop a bidding calendar for RE projects till 2030 and pave for necessary investments.
Also read on improving rural electrification in tribal areas and contentions from the PM- JANMAN scheme which is presented below. Besides, an analysis on using paper-mill wastes to generate compressed biogas has been presented which uses a circular economy approach to use effluent waste for clean energy generation has also been included.
Please find additional news and analysis for your review, including state-wise estimated RE potential in India, development trajectory for a green hydrogen future and current status of global GHG emissions. Additionally, I would encourage you to explore CSE’s training programs with industry relevant curricula in renewable energy and related domains. Also, check the relevant publications from the curated list below, you may find further relevant publications on the Down to Earth webpage.
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Arvind Poswal
Renewable Energy
CSE |
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