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Policy measures for promotion of new & renewable energy

Capital Market 

The has undertaken a number of policy measures for increasing share of renewable in India's mix. These, inter-alia, include:

a) Provision of Renewable Purchase Obligation (RPO) under the National Tariff Policy;

b) Notification of the long term growth trajectory of RPO for solar and non-solar for next 3 years from 2016-17, 2017-18 and 2018-19;

c) Development of Solar Parks and Ultra Mega Solar Power Projects;

d) Development of through Green Energy Corridor project;

e) Making roof top solar as a part of housing loan provided by banks;

f) Waiver of Inter-State Transmission Charges and losses;

g) Repowering of Wind Power Projects for optimal utilization of wind resources;

h) Offshore wind for development of in the Indian Exclusive Economic Zone;

i) Supporting research and development on various aspects of including with industry participation;

j) Financial incentives for systems and devices for meeting energy needs for cooking, lighting and productive purposes; and

k) Permitting 100 percent Foreign Direct Investment in sector through automatic route.

The has set up a target of installing 175 GW capacity through renewables by 2022.

As on 28.02.2018, a total capacity of 65 GW had been installed in the country.

The lowest tariff discovered for solar at Bhadala solar Park in in May 2017, and for wind in the tariff-based capacity auction of in December 2017 were Rs. 2.44/KWh and Rs 2.43/KWh respectively. However, the cost of production of energy from solar and varies from place to place depending upon, inter-alia, insolation, wind speed, cost of land, cost of financing and It is true that in some projects tariff of solar and wind power discovered is in the range or even lesser as compared to the cost of coal based thermal power plants.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 16 2018. 12:25 IST