Opinion & Analysis

Complete dependence on fossil fuel, which is a very volatile segment, can leave a country vulnerable to price fluctuations and geopolitical disputes. This is turn has a huge impact on the country’s economy as well. A prime example of which, can be seen with the current Ukraine- Russia crisis’s impact on the European countries rise in gas prices and subsequent economic turbulence.

Renewable capacity addition is expected to remain at around 15-17 GW annually, owing to significant reduction in the module prices over the past 12 months and availability of liquidity.

India has already seen several success stories where innovative financing has empowered MSMEs in the renewable energy sector. For instance, the Indian Renewable Energy Development Agency (IREDA) has launched schemes specifically designed for MSMEs. These schemes offer concessional loans and financial assistance, making it easier for MSMEs to undertake renewable energy projects.

An additional 120 GW of C&I RE capacity is required to be set up by 2030 for India to attain its solar and wind target of 420 GW by 2030. This translates to US$89 billion worth of investments flowing into the sector between 2024 and 2030.

Hydrogen hubs, which are organised areas where production and utilisation facilities are closely linked, can make green hydrogen projects more viable. This cluster-based approach addresses the technical, logistical, and commercial challenges of long-distance hydrogen transport, enhances project viability, and allows for economies of scale and concentrated infrastructure.

Innovative financing mechanisms, such as credit guarantees and first-loss coverage, are essential to funding MSMEs’ adoption of renewable energy.

In a new weekly update for pv magazine, OPIS, a Dow Jones company, provides a quick look at the main price trends in the global PV industry.

A regional grid would allow the region to share excess renewable energy and facilitate the importing of renewable energy to meet domestic decarbonization goals in economies with limited renewable resources.

Out of the 861 solar PV modules currently enlisted in ALMM, the majority (around 72%) are from high-efficiency technologies. With a 49% share, mono PERC is the most dominant module type in ALMM. Encouragingly, emerging PV module technologies such as n-type TOPCon, Bifacial n-type TOPCon, and Bifacial Mono PERC also account for a significant share of around 22.5%.

In its second monthly column for pv magazine, the IEC highlights the research on flexible crystalline silicon solar cells led by researcher Zhengxin Liu, the Vice Chair of IEC Technical Committee 82, which prepares standards for solar PV energy systems.