Solar Power in India: A Glimpse into the Growing Industry
India, a nation with a population exceeding 1.3 billion, is experiencing a surge in demand for energy. To meet this growing demand and transition towards a sustainable future, India is actively pushing for renewable energy sources, especially solar power.
Current status of solar power in India:
- Capacity: India's installed solar power capacity as of November 2023 stands at over 200 GW, making it the fifth largest solar power producer globally.
- Growth: India has witnessed phenomenal growth in solar power generation, with an average annual addition of over 14 GW in the past five years.
- Government initiatives: The Indian government has ambitious plans to reach 500 GW of installed solar power capacity by 2030, making it a significant contributor to the country's energy mix.
- Recent developments:The government is planning to set up mega solar parks across the country to facilitate large-scale solar power generation.Efforts are being made to promote rooftop solar installations on residential and commercial buildings.Initiatives are underway to incentivize the manufacturing of solar panels and related equipment within India to create a robust domestic solar industry.
Govt finalises funding mechanism for battery energy storage system project
- The Indian government has finalized a mechanism to fund the development of 4,000 MWh of battery energy storage systems (BESS) in the country.
- This initiative aims to address the growing demands for power and facilitate the transition towards renewable energy sources like solar and wind.
- BESS will help store excess renewable energy generated during peak production periods (daytime for solar and evenings for wind) and release it during periods of high demand, ensuring a round-the-clock power supply.
- This project will be supported through a viability gap funding scheme, where the government will provide financial assistance to bridge the gap between the project cost and the revenue it can generate.
- Implementing BESS is expected to:Stabilize the electricity grid: By absorbing fluctuations in renewable energy generation and ensuring consistent power supply.Reduce the need for expensive peak power plants: BESS can be used instead of these plants, leading to cost savings.Improve overall grid efficiency: By minimizing energy losses during transmission and distribution.
New Electricity Rules Empower Rooftop Solar and EV Owners in India
The Indian Ministry of Power has recently notified amendments to the Electricity (Rights of Consumers) Rules, 2020. These amendments aim to accelerate the installation of rooftop solar projects and empower consumers, including electric vehicle (EV) owners. Here's a breakdown of the key changes:
Easing Rooftop Solar Installation:
- Faster approvals: DISCOMs (electricity distribution companies) are now required to complete a feasibility study within 15 days of receiving an application for a rooftop solar project, instead of the previous 20 days. This expedites the approval process.
- Simplified grid connection: The amendments clarify net metering procedures and ensure timely processing of grid connection applications.
- Metering transparency: Consumers have the right to choose their own net meter and get it calibrated at their expense, increasing transparency and potential cost savings.
Empowering Consumers in Societies:
- Individual connection choice: Residents in housing societies can now opt for individual rooftop solar connections for their apartments, even if the society has a single point connection. This allows for individual ownership and control over solar power generation and consumption.
- Faster grievance redressal: The amended rules establish a grievance redressal mechanism for issues related to meter readings, billing, and other consumer concerns, ensuring a more responsive system.
