Community

Banks categorize renewable energy projects as risky and believe they offer lower rates of return than fossil fuel schemes, making them reluctant lenders.

With more than 550 rooftops identified to save installation time and costs, the scheme will be divided into 27 project groups backed by the Madhya Pradesh and federal governments. PPA agreements are already in place.

While Africa has emerged as a dynamic, fast-moving hub, Asia leads in capacity deployment with its total capacity more than tripling to nearly 4.3 GW in 2017 from 1.3 GW in 2008, finds IRENA. Particularly, in India, a strong policy has pushed deployment of off-grid solar for agriculture and public end-uses.

Underlining India’s commitment to becoming the global renewable energy leader, Shri Anand Kumar, secretary of the Ministry of New and Renewable Energy, said the country plans 500 GW of capacity by 2030. He also underlined plans to become a solar and storage manufacturing hub; and said the International Solar Alliance needs to widen its membership.

There was incredulity in some quarters as the federal government raised its renewables ambition another 22%, but the stellar performance of the past four years points to the new target being a realizable one.

According to Mercom India, the Indian solar PV industry has recorded its strongest quarter since the launch of the National Solar Mission. In addition to declining module prices, both rooftop and utility-scale installations saw strong growth. Clarity is needed, however, on the ongoing safeguard duty saga, to drive the industry forward.

The Indian Ministry of New and Renewable Energy (MNRE) says the nation will exceed 175 GW of installed renewable energy capacity as plans for bidding for 115 GW of renewable power projects to March 2020 were announced. The target for PV parks has been increased from 20 GW to 40 GW with some 41 parks in 21 states – with aggregate capacity of more than 26 GW – already sanctioned.

According to a tracking report from five international agencies, the world is lagging behind its sustainable development goals for the period 2015-2030, although significant progress has been made in reducing electrification deficit in the least developed countries, and industrial energy efficiency. Off-grid solar solutions, meanwhile, are emerging as one of the key drivers of rural energy access.

Chennai has the potential to install 1.38 GW of rooftop solar PV which, if realized, could meet around 10% of the city’s electricity demand, according to a new study by Greenpeace and the Gujarat Energy Research and Management Institute.