Integrating higher share of renewable energy in India’s power system
To increase the share of renewable energy, India needs to introduce demand-side measures like time-of-use tariffs, develop a well-connected national grid, deploy various energy storage options for grid balancing services, and convert its fossil-fuel-powered fleet to operate flexibly.
Reviving stranded power plants better than investing in new thermal capacity
Strategic acquisitions and subsequent revival of stranded thermal power plants will better serve India’s short-term energy security needs than investing in new ones.
Funds may dry up for APAC oil and gas firms slow on diversification path
While more financiers are committing to limiting capital for fossil fuel, their oil and gas sector borrowers in the Asia Pacific region still adopt a wait-and-see approach to new energy.
Bangladesh needs up to $1.71 billion annually till 2041 for 40% renewable energy capacity
A new report says the time is ripe for Bangladesh to increase renewable energy-based generation capacity to reduce costly fossil-fuel imports and drive down subsidy burdens on the power sector. It finds the nation would need to consistently invest $1.53 billion to $1.71 billion annually until 2041 to build a 40% renewable energy capacity of the electricity demand of 61,866 MW in 2041.
India could become world’s second-largest solar manufacturer by 2026
India’s solar module manufacturing capacity could reach 110 GW by 2026. It will also have a notable presence in all upstream components of PV manufacturing, such as cells (59 GW), ingots/wafers (56 GW), and polysilicon (38 GW).
The case for using gas-based plants to serve peak power demand
Using some of India’s existing gas-based power capacity as peaking plants would be more economical than the other options in the short-term market for peak power supply. Gas-based power plants can provide ancillary services to maintain the grid’s power quality, reliability, and security as renewable energy capacity increases, says a new report by IEEFA.
Emerging investment opportunities in India’s renewable energy sector
Corporate decarbonization, value chain integration, wind-solar hybrid projects, battery energy storage, offshore wind, green hydrogen, and value-added offerings such as energy-as-a-service are key trends and technologies shaping up India’s renewable energy sector and offering ample scope for investments.
India saved $4.2 billion in fossil fuel costs due to solar generation in H1
A new report says solar generation helped seven Asian countries avoid $34 billion in fossil fuel costs in the first half of 2022. The majority of these savings were in China ($21 billion). Japan avoided $5.6 billion in fossil fuel costs and India saved $4.2 billion.
India expected to annually deploy 35-40 GW of renewables until FY2029-30 end
Ambitious government targets and commitments by both private and state-owned companies will propel renewable energy installations.
India’s residential rooftop solar capacity expected to rise by 60% this fiscal year
India’s cumulative residential rooftop solar capacity may rise by 60% to reach 3.2 GW by March 31, 2023 driven by rising consumer demand coupled with strong government support.
