India is set to cross the 100-Gw renewable energy capacity mark in 2020 and can make rapid strides towards the ambitious 175 Gw clean energy target by 2022 provided the government keeps a close eye on key issues and deals with those well in time. The government, however, needs to promote storage to ensure 24×7 clean energy supply as coal fired thermal power still remains the base load in the country.
Presently, the issues hampering growth of renewables in India are lack of interest of financial institution to fund renewable energy projects, safeguard duty on imported solar panels, ambiguity over goods and services tax (GST) on solar equipment and low investor sentiment due to delayed or non-payment by discoms to clean energy developers.
India’s installed renewable energy generation capacity touched around 86 Gw by November-end. This includes solar, wind, small hydro, biomass, waste to energy and others.
Around 30 Gw renewable capacity, including 18 Gw solar and 10 Gw wind energy, is under implementation. Besides, around 40 Gw including 36 Gw solar and 3.4 Gw wind energy, is being tendered.
“Together with other schemes being implemented by the government, I expect RE (Renewable Energy) sector to get a big boost in 2020 and the years thereafter. I expect our RE capacity to cross 100GW mark in 2020,” Power and New & Renewable Energy Minister R K Singh told PTI.