To put the amount in context, global corporate funding for the solar industry - the world's fastest-growing electricity source – was a tenth of that amount in 2017 at $12.8 billion, research firm Mercom says.
Not just Germany, several European countries including Belgium, Britain, France, the Netherlands and Switzerland too experience negative pricing
The researchers said that their technologies could provide short-term environment friendly options till renewable energy come into their own
In a separate reply to the House, Power and New & Renewable Energy Minister RK Singh said that tidal energy cannot be presently harnessed on commercial basis due to high capital cost ranging from Rs 30 crore to 60 crore per MW.
The biofuel is being added to the bus fuel supply chain where it can be used without the need for any modification
The country's renewable energy installed capacity is 58.30 GW as per the recent government data. The government has an ambitious target of raising it to 175 GW by 2022 including 100 GW of solar and 60 GW of wind energy.
Indian Oil Corp is planning to set up battery charging stations for electric vehicles at its petrol pumps, BPCL is looking into rooftop solar plants and HPCL is looking to make a mark in the natural gas and renewable energy segments.
The company has planned to add 1 GW capacity this fiscal, ReNew Power Venture Chairman and CEO Sumant Sinha told PTI. It has installed generation capacity of 2.4 GW, at present. "We are aiming at 5 GW power generation capacity in the next two years time. We have planned to add 1 GW during this fiscal," Sinha said.
The planned norms instruct the destruction of the equipment which does not carry the “Standard Mark” of BIS, according to the renewable energy ministry’s Solar Photovoltaics, Systems, Devices and Components Goods (Requirements for Compulsory Registration) Order, 2017.
The project requires diversion of 55.73 hectares of forest land in Andhra Pradesh's Ramagiri in order to establish a 40MW wind power project.
The minister also said it was time for the government to have a look at whether there was really a need to have separate Renewable Purchase Obligations.
"Power Ministry had finalised the policy last month and sent to the Finance Ministry for vetting before placing it for the Cabinet approval," a source said.
The Bengaluru-based firm has also been working on reducing its per capita electricity consumption. It said the per capita electricity consumption has been reduced by 2.88 per cent in 2016-17.
At present, a hydro power project up to 25 MW is classified under renewable energy and is entitled to various incentives provided by the government.
India is considering electrifying all its vehicles over the next 15 years, a plan that could boost SoftBank's solar ambitions in the country if the government adopts renewable energy to charge the vehicles.
A combination of lower tariffs, muddled policy, and lowered incentives are threatening to cripple the wind power industry.
"India is moving quite quickly in a number of areas as well, again, on renewable energy, which is kind of a golden thread running through this hearing. India is thinking big and moving big," Robert Orr, professor and dean, University of Maryland, School of Public Policy, told lawmakers during a Congressional hearing.
The bonds will be raised by the Ministry of New & Renewable Energy through the Indian Renewable Energy Development Agency during the 2017-18.
TCCL, a joint venture between Tata Capital and International Finance Corporation, currently has an asset/loan book size of Rs 2,400 crore.
It is true that there is an increase in carbon emission by India and China due to homegrown consumption and lack of infrastructure. But let's keep in mind that India's carbon emissions per capita are still 10 times lower and China's is half of that compared to the US.
China has pledged to increase non-fossil fuel energy to at least 20 percent of total consumption by the end of the next decade, up from 12 percent in 2015, part of its efforts to tackle air pollution and bring carbon dioxide emissions to a peak by around 2030.
The Cabinet today approved signing of a pact between Forum of Regulators (FOR) and National Associations of Regulatory Utility Commissioners (NARUC) for large-scale grid integration of renewable energy.
As investments in the solar sector see an upsurge, Macquarie Infrastructure looks at buying a 320 megawatt (MW) portfolio of solar assets from Hindustan Power Projects Pvt Ltd (HPPPL).
The milestone came as NTPC Ltd, India's largest power producer, commissioned a 45 MW solar power project at Bhadla in Jodhpur, Rajasthan.
There was a "good increase in trade but opportunities do exist. The newer sectors in which we can have greater interaction, engagement and productive relationship are renewable energy, pharmaceuticals and healthcare," the Commerce and Industry Minister said.