Markets & Policy

Arun Unni, Executive Vice President and Business Head – New Energy & Head of Strategy at Thermax, speaks to pv magazine about the evolving green hydrogen market, electrolysis economics, and the company’s ambitions in this space through global technology tie-ups. He also discusses the emerging carbon credit trading system and new opportunities for Thermax in biomass, sustainable fuels, and round-the-clock renewable energy solutions.

Cumulative open-access (off-site commercial and industrial) solar installations surpassed 30 GW as of Dec. 31, 2025.

The latest report from the International Energy Agency’s Photovoltaic Power Systems Programme says second-life PV modules have the potential to reduce waste and extend the value of solar assets, but their market today remains underdeveloped and requires advances in technical qualifications, scalable reuse infrastructure and supportive policy frameworks.

During the live peer-to-peer energy trading demo, Arun Singh, a farmer from Meerut (Uttar Pradesh), used a secure, blockchain‑enabled platform to sell surplus solar‑generated electricity directly to Lakshmi, a garment shop owner in Delhi.

The number of operational battery gigafactories will increase significantly, with more than 30 manufacturing sites expected to be in operation by 2030, targeting a total production capacity exceeding 290 GWh. However, challenges such as raw material and skilled labor shortages, insufficient R&D investment, and a lack of long-term strategic planning remain.

Infomerics Ratings expects renewable energy (RE) to account for 26% of India’s total power generation by the end of FY2026, despite softer demand conditions.

The Global Energy Alliance for People and Planet has launched the India Grids of the Future Accelerator platform to modernize power distribution, integrate renewable energy and storage, and prepare India’s grids for rapid demand growth.

The International Solar Alliance (ISA) convened a high-level session at the India AI Impact Summit 2026 to advance global dialogue on the transformative role of Artificial Intelligence (AI) in the clean energy transition.

Clean energy spending rises 40% to $5 billion as government prioritises CCUS, domestic supply chains and strategic manufacturing. However, execution delays and underutilisation of allocated funds could limit the near-term impact, according to an analysis by Wood Mackenzie. 

By embedding quality benchmarks into procurement and manufacturing incentives, policymakers are ensuring that India’s energy transition is durable, not disposable. The focus has moved from rapid installation to long-term reliability — a sign of sectoral maturity.