The share of renewable energy capacity in India (excluding large hydro and nuclear) has increased significantly from 12.1% in March 2014 to 32.5% in March 2024. But this doesn’t reflect the real picture in terms of actual generation mix as the availability and the plant load factor (PLF) of conventional thermal plants are of a different order as compared to renewable units. Take the expected power generation in May which is set to touch a new high of 164 billion units (CMIE). The share of conventional sources in actual generation still stands at 87% while the share of renewable energy is only 13%. In order to make a perceptible shift as a nation to “net zero”, the share of actual generation from renewable sources has to go up steadily and materially. Surely, the closure of fossil fuel based plants is not an option, given the increasing energy requirements of our country. But this is still possible through a combination of two things: 1. Acceleration of the renewable energy capacity additions through innovative financing methods including a sizeable increase in external funding 2. Development of effective energy storage systems (ESS) covering battery, pumped hydro (PHS) and also green hydrogen from where energy can be tapped as and when demand rises. Both these things should receive high priority in India’s energy policy going forward. #powergeneration #renewableenergy #netzero #climaterisks #esg Acuité Ratings & Research Limited ESG Risk Assessments & Insights Sankar Chakraborti
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2moHello Mr Chowdhury This is Prof Piya Mahtaney. I agree with the view that the ground realities about renewable energy need to be better reflected in metrics. Related to the subject of of renewable energy in India what I think required considerable effort is small scale renewable energy projects. This will catalyze the transition