Being one of the most polluted countries in the world, the Indian government knows it needs a change and is launching an ambitious clean energy electrification plan.
The Indian renewable energy sector is a very attractive market due to the considerable efforts made to increase production capacity. From 2018, the nation held second among emerging economies in the transition to clean energy.
The efforts are bearing fruit and they continue to accumulate competitive advantages in the solar and wind sectors. This fact is highlighted in the following results:
Lower electricity rates.
Over the period 2017-2018, the wholesale price of electricity was significantly cheaper thanks to auctions.
Increase in renewable capacity.
India has installed 75 GW of clean energy. It has 28 GW and 37 GW of auctioned capacity, for a total of 141 GW. The first 37 GW of capacity to be tendered should be commissioned by the first quarter of the year 2022.
In fiscal year 2018-2019, 22.5 GW was allocated but construction has not yet started.
Of this total, 21 GW were sold for less than Rs 3 per unit, which will allow the sector to deflate in the years to come.
India joins solar roofs.
The nation added 1.6 GW of solar capacity in 2018. Over the past six years, investments in photovoltaic systems have grown at an average annual rate of 90%.
The outlook is for growth, which would add 9 GW of rooftop solar installations by 2022 and could reach a cumulative capacity of 12.9 GW.
Experiment with other renewable sources.
The big ones hydroelectric projects they are the main source of clean energy. The Ministry of Renewable Energy has devised an action plan to achieve a total capacity of 60 GW of hydropower, 60 GW of wind power, 10 GW of biomass power and 5 GW of small-scale hydropower.
By 2030, renewable sources are expected to contribute to 40% of the country’s energy needs.
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