Overall, the government is looking to tap capacity of 16,200 MW, of which 10,000 MW is the biggest challenge as they are owned by private entities and state governments. The remaining 6,200 MW are Central government-run plants, which are already operating up to 3,200 MW currently.
As per Union minister for power and new and renewable energy RK Singh, the government will identify households that consume up to 300 units of electricity a month for the new rooftop solar scheme.
The MNRE clarified that residential rooftop solar applications submitted before February 13, 2024 will not be eligible for the Central Financial Assistance (CFA) under the new scheme - PM Surya Ghar: Muft Bijli Yojana. They will be eligible for subsidies under the old regime.
The minister said when we have extra solar energy during the day and extra wind energy during the evening, the energy would go waste in the absence of adequate storage system.
India is stepping up coal-fired generation capacity as peak electricity demand is likely to touch 256.5 GW in 2024 from a record 240 GW in 2023.
A day after the Interim Budget, Union minister for power RK Singh, providing further clarity on the scheme, said those who availed low-income houses under the Pradhan Mantri Awas Yojna will be considered in this. He added that households with power consumption more than 300 units per month will have to install rooftop solar on their own, even as they will be eligible for enhanced subsidies.
The allocation in the Interim Budget for the rooftop solar scheme is likely to be at least Rs 20,000 crore.
Speaking to Moneycontrol Managing Editor Nalin Mehta at the Policy Next summit held on January 18, Union Minister for Power and New & Renewable Energy RK Singh answered questions on a wide range of issues that offer a glimpse into the future of India's energy policy.
Minister of Power & Renewable Energy, RK Singh, speaks on securing India's energy future as he engages in a fireside conversation with Moneycontrol's Managing Editor Nalin Mehta.
India’s rate of renewable energy capacity addition has been the fastest in the world in the past five years, after China, said Union power and renewable energy minister RK Singh at Moneycontrol’s Policy Next Summit on January 18. Watch RK Singh's Full Address
Our established power generation capacity has to go up to 900 GW, from about 427 GW today to meet India's burgeoning energy demand, the Union minister for power said.
The power and green energy industry is hopeful that the government in its Interim Budget will ensure policy consistency, focus on green hydrogen, lower goods and services tax (GST) rates, and easy access to subsidies and climate finance.
The Union minister informed that another 18,000 MW of hydro projects are currently under construction and 13,000 MW are under various surveys and investigations.
Talking about universal access to electricity and energy security, the Union minister said no country can develop if it does not have sufficient electricity.
Power Minister is confident of surpassing the target of adding 500 GW of renewable energy capacity by 2030, of which about 65 percent would be though non-fossil fuels.
This is the first incentive scheme specifically for the production of green ammonia under the National Green Hydrogen Mission. Moneycontrol was the first to report the incentive scheme plan in May last year.
The move is likely to boost domestic solar module manufacturers.
Power minister RK Singh said investments worth Rs 16.93 lakh crore have been made since 2014 in the power and RE sectors, and another Rs 17 lakh crore worth investments are currently under pipeline.
The Central Electricity Authority (CEA) monitors 62 gas-based power stations with a total capacity of 23,845 MW using gas as primary fuel. At least half of these stations, had zero generation in 2022-23
Of the 26 coal mines to be launched for auctions, 12 are in Madhya Pradesh, eight in Chhattisgarh, five in Jharkhand, and one in Telangana
The list was kept in abeyance to boost the number and capacity of solar installations in the country. As a result, domestic manufacturers were hit by the huge imports of components. The implementation of the list will ensure a level playing field for domestic players.
During April-October 2023, the average growth in coal-based generation, with respect to corresponding period of FY 23, was 8.6 percent and the depletion in DCB plants stocks was 15.3 million tons (MT), Singh said
With these statements, India is only strengthening its stand of not phasing out fossil fuels to ensure energy security, while also keeping electricity affordable.
We also plan to have an integrated rating system for rooftop solar vendors for the consumers to make informed choices. Besides, we are planning to have benchmark prices for modules based on its star-rating, the Union minister for power and renewable energy said.
Faced with continuous surge in power demand, the government has also revised its thermal capacity addition plan from 51 GW to 75-77 GW by 2031-32, said Ministry of Power Secretary Pankaj Agarwal