TAG: GS-3: ECONOMY
THE CONTEXT: India has achieved a significant milestone in its renewable energy journey, with its total renewable energy capacity crossing the 200 gigawatts (GW) mark by October 10, 2024.
EXPLANATION:
Current Status of Renewable Energy (RE) in India:
- The share of Renewable Energy in the total installed generation capacity in the country stands at 43.12%. India ranks fourth globally in renewable energy capacity.
- 4th in Wind Power (46.65 GW) capacity and 5th in solar photovoltaic power (85.47 GW).
- It crossed 200 GW capacity from non-fossil fuel sources for the first time. It includes Solar power 85.47 GW, Large hydropower 46.93 GW, Wind power 46.66 GW, Biopower 10.95 GW, Small hydropower 5.00 GW, and Waste to Energy 0.60 GW.
Renewable Energy targets in India:
- India aims to reach a non-fossil fuel energy capacity of 500 GW by 2030.
- Fulfilling at least half of its energy requirements via RE by 2030.
- FDI: Up to 100% FDI is allowed under the automatic route for renewable energy generation.
What is Renewable energy (RE)?
- It is energy derived from natural sources that are replenished at a higher rate than they are consumed. Renewable energy sources are plentiful and all around us.
- For Example: Solar Energy, Wind Energy, Geothermal Energy, Hydro Power, Ocean Energy, Bio Energy.
Challenges faced by RE Sector in India:
- High cost: The material and natural resource (primarily land) costs to generate one unit of electricity are substantially higher for RE compared to the generation of one unit of electricity from fossil fuels.
- The highly diffused nature of RE requires elaborate installations such as solar panels and wind turbines.
- Land acquisition: The identification of land with RE potential, its conversion (if needed), clearance from the Land Ceiling Act, decision on land lease rent, clearance from the revenue department, and other such clearances take time.
- Poor DISCOMS performance: Since most DISCOMS are bound by Power Purchase Agreement (PPA) for thermal power, their capacity to procure solar based power is reduced, thus affecting the overall Renewable purchase obligations (RPO) targets.
- RPOs are mechanisms designed to compel power procurers in every state to annually purchase a certain minimum amount of renewable energy.
- Storage Concern: Due to Intermittency (Renewable sources are not constant, they fluctuate based on weather conditions) and grid balancing challenge (sudden surges or drops in renewable energy generation can strain the grid).
- Environmental: Birds and bats can collide with wind turbines, especially during migration seasons. Also, a large amount of water is needed for hydrogen production.
Significant steps taken to promote renewable energy in India:
- Solar Parks Scheme.
- PM Surya Ghar: Muft Bijli Yojana.
- Green Energy Corridor (GEC) projects.
- National Green Hydrogen Mission.
Source:
https://pib.gov.in/PressNoteDetails.aspx?NoteId=153279&ModuleId=3®=3&lang=1
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