U.S.-owned analyst Wood Mackenzie expects solar demand to decline but predicts the market will recover, with the prospects for the energy transition remaining intact.
The New Delhi based lender—which has funded over 45 MW of distributed solar energy assets—will use the new investment to catalyze the growth of residential and commercial solar systems, solar pumps, floating solar and solar cold chains in India.
The Climate Investment Platform launched by three multilateral bodies in September is now open for business and renewables companies in developing nations across 14 regions including south Asia could qualify for help with clean energy facilities, renewables-related grid improvements and energy efficiency schemes.
Developers are also expected to drag their heels over project completion during the first half of the year as the safeguarding duty applied to imported Chinese and Malaysian solar products is due to expire at the end of July.
The International Water Management Institute is promoting the Solar Irrigation for Agricultural Resilience (SoLAR) initiative to expand the use of solar irrigation systems throughout Bangladesh, India, Nepal, and Pakistan. Proponents of solar irrigation pumps say that they can have a strong positive impact on groundwater.
India, with 750 GW of solar potential, has also one of the highest transmission and distribution losses in the world. So, while there is immense scope in PV deployment, there is a need for greater investment in grid related projects also to help the country best utilise its renewable energy potential, says the latest report by SolarPower Europe and National Solar Energy Federation of India (NSEFI) which also makes recommendations to help accelerate investments in the solar sector.
The OneBox, from Indian manufacturer Vision Mechatronics, consists of a lithium battery, hybrid inverter and solar charge controller to give a hassle-free solution for electricity back-up during power outages. Solar rooftop owners are offered a grid feed feature to maximize net metering income from any excess power generated.
15 GW of utility scale and 8.5 GW grid-connected rooftop solar by year 2030 is the new target set for the state which is currently chasing year 2022 target of 6.4 GW and 4.3 GW, respectively.
The state budget for 2020-21 has also allocated Rs 125 crore under Pradhan Mantri KUSUM Yojana to solarize 18,500 grid-connected pumps and for standalone offgrid solar power agriculture pumps.
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