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1、EbookState of Green:IndiaSignificant strides towards sustainability are being made throughout the southern part of Asia.In 2023 alone,the ASEAN region saw a 20%increase in solar and wind capacity,a figure that has propelled the regions total renewable energy capacity beyond 28 gigawatts(GW)and pushe

2、d it closer to its target of achieving its renewable energy capacity target of 35%by 2025.Among these collective efforts,one nation stands out:India.The country is carving out a reputation as South Asias green powerhouse,with considerable progress underlining its commitment to both the green energy

3、transition and its position as a regional renewable energy leader.Introduction04Challenges on the horizon03Looking to the future02The solar sector in India01The energy sector in IndiaTable of contentsThe energy sector in India01.Indias commitment to renewables is long-standing.By November 2021,the c

4、ountry had already accomplished its target of having 40%of its installed electric capacity come from non-fossil fuel sources.They didnt slow their efforts,though,and experienced their highest year-on-year growth rate in renewable additions at a rate of nearly ten percent(9.83%)the following year.As

5、of 2024,the nation has seen a 396%increase in installed non-fossil fuel capacity over the last eight and a half years,amounting to more than 199.85 GW or approximately 45.1%of the countrys total capacity.Today,India ranks fourth globally for total renewable power capacity additions.The energy sector

6、 in India396%is the increase in installed non-fossil fuel capacity the nation has seen over the last eight and a half yearsAnother area where India shines on the global stage is in wind power capacity.The country is ranked fourth in this category,too,with a current standing of about 46.16 GW.The fut

7、ure prospects of this industry look even more promising,with projects currently underway aiming to achieve a total 30GW capacity from purely offshore wind by 2030.While not quite at the same level as wind power capacity,hydropower also plays an important role in Indias energy makeup.The country has

8、just under 12 GW of hydropower capacity,which is made up of 6.92 GW of large hydro and a further 5 GW from smaller hydropower facilities.These renewables numbers are very impressive even more so once you add in Indias progress in the solar sector.The energy sector in IndiaThe solar sector in India02

9、.India also ranks highly in the solar industry,where it is now ranked fifth globally for solar power deployment.As of the middle of 2023,the country had successfully commissioned solar projects boasting a total capacity of 70.10 GW,with the vast majority(57.22 GW)coming from ground-mounted projects.

10、The remaining capacity was made up of rooftop installations(10.37 GW)and off-grid solutions(2.51 GW).A lot of this success is attributable to the various schemes that India has implemented.The solar sector in IndiaIndias Solar Power Capacity(Mid-2023)Ground-mounted projectsRooftop installationsOff-g

11、rid solutions81%15%14%4%Solar Park SchemeProduction Linked Incentive(PLI)SchemeIntroduced in 2014,the Solar Park Scheme is an initiative from the Indian government designed to expedite the development of solar projects nationwide.When it first launched,the project aimed to generate 20,000 megawatts(

12、MW)of solar capacity within five years.Given its success,the target was later revised upwards to an impressive 40,000 MW.The Indian governments PLI scheme aims to establish high-efficiency solar photovoltaic(PV)module manufacturing capacity.The equivalent of just under$3 million USD was spent to mak

13、e this a reality.The scheme offers incentives for five years after the commissioning process,based on the manufacture and sale of these high-efficiency modules,divided into two different tranches.Letters of Award were issued to successful bidders in 2021 to set up an 8,737 MW capacity in Tranche-I a

14、nd 39,600MW in Tranche-II.The solar sector in IndiaCPSU SchemeThe Central Public Sector Undertaking(CPSU)Schemewas approved by central and state PSUs and government organizations for the establishment of grid-connected solar PV projects.The scheme is designed to boost domestic manufacturing and prom

15、ote self-reliance in the solar power industry.One of the key features of the CPSU Scheme is its provision for Viability Gap Funding(VGF).The equivalent of about$1 million USD has been allocated to VGF,which provides important financial assistance to make projects more economically viable.Under the s

16、cheme,various entities across India have been sanctioned,amounting to an 8.2 GW capacity.Canal Bank&Canal Top SchemeBundling SchemeThe Canal Bank and Canal Top Scheme is an innovative initiative that uses Indias extensive canal network for solar power generation.The goal of the project is to create

17、a total capacity of 100MW,split evenly between canal tops and banks.One thing that sets this scheme apart is its smart approach to funding allocation.For every megawatt produced by the projects,Central Financial Assistance provides the equivalent of$360,000 USD to those situated atop the canals and

18、half that to those along the banks.The Bundling Scheme was introduced in 2010 during the Jawaharlal Nehru National Solar Missions first phase.The missions objective is to combine solar power with more economical coal-based power from NTPC stations.In its initial phase,the scheme effectively reduced

19、the cost of bundled solar power to the equivalent of$0.060 USD/kWh by employing a ratio of 4:1 for coal to solar.The solar sector in India03.Looking tothe futureLooking ahead,India is trying to achieve some big goals.A target of 500 GW installed electricity capacity from non-fossil fuel sources has

20、been set for 2030,and a lot will have to go right to hit such an ambitious goal.Approximately$293 billion USD will need to be invested before the end of the decade,with an additional$101 billion required if India intends to comply fully with the International Energy Agencys net-zero scenario.In addi

21、tion to financial hurdles,India also needs to add 115 GW of solar capacity and another 9 GW of wind capacity if it wants to meet its high targets.This means making the sector more efficient and addressing issues like payment delays,unfavourable regulations,and securing affordable financing options.A

22、nother reason this target is so important is that the demand for renewable capacity in India is projected to be as high as 405 GW as of 2030.This means that these goals are not just about the long-term future of the countrys energy sector but about meeting immediate demand too.Looking to the future4

23、05 GWis the projected renewable capacity needed in India by 2030.04.Challenges on the horizonWith the stakes so high,India must address some key challenges to meet these goals.?The biggest is land acquisition;finding enough land for large solar farms is no small task in a country with an immense pop

24、ulation density like India.In the past,solar farm installations have displaced communities and jeopardized food security by either being built in rural areas or on fertile land.This strategy,however,is not sustainable and alternatives like waste land need to be considered?Secondly,the integration of

25、 solar into Indias aged power grid also presents obstacles.Solars intermittent nature could cause problems with old infrastructure that was not designed to handle fluctuating power inputs effectively.The modernization of Indias grid infrastructure will have to be prioritized,even though this is both

26、 costly and technically complex.While these are not the only challenges that India will face,they are among the most prominent.Challenges on the horizonCrafted solutions for every solar professionalAnd if you are looking to try out RatedPower for yourself,book a demo today and take your PV designs to the next level!Discover RatedPower