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Recently, the Indian government raised the original plan to achieve renewable energy installed capacity of 175 GW by the end of 2022 to 227 GW, which means that by then, the proportion of renewable energy supply in India will increase to 28%.
At present, India has increased its target
by more than 70 GW.
However, if a linear scale is used to assess progress to date, this trend seems to indicate that the country is still lagging behind
in renewable energy development.
However, the growth of
renewable energy is not linear.
For several years, renewable energy prices in India have been quite high due to high
financial costs.
Now that these financing costs have fallen dramatically, renewable energy investment is accelerating
.
In a recent statement to the media, the Ministry of New and Renewable Energy (MNRE) wrote: "New opportunities have emerged and entirely new commercial spaces have been created
.
Indian companies have started using foreign stock exchanges as a source of
funding.
India is gradually becoming the most popular destination
for investing in renewable energy.
”
Of course, global renewable energy prices continue to fall, thus raising
this target.
RK Singh, Minister of National Power and New and Renewable Energy, said at a recent press conference: "India's current renewable energy capacity is 70GW and we will achieve our target
of 175GW by 2022.
New initiatives like offshore wind, floating solar, etc.
will help us exceed our current targets
.
”
If India meets this new target, it will only lag behind China and the United States in terms of installed renewable energy capacity, ranking third
in the world.
This increased target comes at the perfect time, as China's renewable energy growth is expected to be reduced
by reduced subsidies this year.
India's energy demand continues to grow, and renewable energy allows this demand to be met
at the best possible price.
Unfortunately, India is adding heat (fossil fuel power generation) every year, but the good news is that its utilization is declining
.
With the old renewable energy target, the utilization rate of coal-fired power plants is expected to be 57%.
But the new targets mean that this proportion will continue to decline
.
Recently, the Indian government raised the original plan to achieve renewable energy installed capacity of 175 GW by the end of 2022 to 227 GW, which means that by then, the proportion of renewable energy supply in India will increase to 28%.
At present, India has increased its target
by more than 70 GW.
However, if a linear scale is used to assess progress to date, this trend seems to indicate that the country is still lagging behind
in renewable energy development.
However, the growth of
renewable energy is not linear.
For several years, renewable energy prices in India have been quite high due to high
financial costs.
Now that these financing costs have fallen dramatically, renewable energy investment is accelerating
.
In a recent statement to the media, the Ministry of New and Renewable Energy (MNRE) wrote: "New opportunities have emerged and entirely new commercial spaces have been created
.
Indian companies have started using foreign stock exchanges as a source of
funding.
India is gradually becoming the most popular destination
for investing in renewable energy.
”
Of course, global renewable energy prices continue to fall, thus raising
this target.
RK Singh, Minister of National Power and New and Renewable Energy, said at a recent press conference: "India's current renewable energy capacity is 70GW and we will achieve our target
of 175GW by 2022.
New initiatives like offshore wind, floating solar, etc.
will help us exceed our current targets
.
”
If India meets this new target, it will only lag behind China and the United States in terms of installed renewable energy capacity, ranking third
in the world.
This increased target comes at the perfect time, as China's renewable energy growth is expected to be reduced
by reduced subsidies this year.
India's energy demand continues to grow, and renewable energy allows this demand to be met
at the best possible price.
Unfortunately, India is adding heat (fossil fuel power generation) every year, but the good news is that its utilization is declining
.
With the old renewable energy target, the utilization rate of coal-fired power plants is expected to be 57%.
But the new targets mean that this proportion will continue to decline
.
