About 20 per cent of India’s electricity could come from renewable sources by 2020, which could rise to 30 per cent by 2030, according to a recently published report.
The study authored by Arunabha Ghosh, chief executive officer, Council of Energy, Environment and Water said that the government has taken several policy imperatives including direct financial transfers such as feed-in tariffs, generation-based incentives, and low-cost financing and viability gap funding to subsidise capital costs.
“Several state governments have pushed for policy innovations, such as accelerated depreciation in Gujarat, exemptions from wheeling and transmission charges for electricity sold in Andhra Pradesh, and a renewable energy infrastructure development fund in Rajasthan,” said the report titled ‘The Big Push for Renewable Energy in India: What will drive it?’ published in the journal Bulletin of the Atomic Scientists.
The Finance Minister in this year’s Union Budget had announced the expansion of Pradhan Mantri Kisan Urja Suraksha Utthan Mahabhiyan Scheme under which 20 lakh farmers would be provided funds to set-up standalone solar pumps.
The report added that if 15 per cent of irrigation pumps in India were converted to solar pumps, then they would amount to an additional capacity of 20 gigawatt.
India currently has about 27 million irrigation pumps.
The government has set a massive target of deploying 175 GW of renewable energy capacity by 2022, including 100 gigawatts of solar power.
The report, however, added that meeting the solar target alone would require a growth rate equivalent to doubling India’s installed solar capacity every 18 months.
It further added that the solar market created nearly 24,000 full time-equivalent jobs from 2011 to 2014 in areas of business development, design and construction, commissioning, and operations and maintenance.