Green RTC Power Possible At Rs 6/unit If Green Hydrogen Is Used For Storage: Singh

Green RTC Power Possible At Rs 6/unit If Green Hydrogen Is Used: Singh

Union Minister for New & Renewable Energy RK Singh said that round-the-clock (RTC) renewable energy would cost about Rs 6 per unit if Green Hydrogen is used for storage.

He was speaking at the Special Ministerial Session of the Fourth International Conference & Exhibition on Clean Energy in New Delhi today. Singh said that the cost of Green Hydrogen would be the cheapest in India. He also said Green Hydrogen would become a viable energy storage alternative, a media statement from the ministry claimed.

“Green hydrogen is cheaper than gas and battery energy storage systems. We have developed a pilot bid for about 100 MW, hoping to establish the benchmark. Once we can use green hydrogen for our energy requirements, all supply chain issues, such as the availability of lithium-ion batteries, will be resolved,” he said.

Singh also added, “We will make Green Hydrogen and use it as storage. The average power price in the energy exchange has recently been Rs. 8 per unit, so if our cost for round-the-clock renewable energy comes to Rs. 6 per unit, we are in business. That is what the future is: renewables. The future is here, not far away.”

Nevertheless, the minister informed the industry that the basic legal framework for the carbon market has been formulated and that the government is thinking of permitting the industry gain carbon credits for green hydrogen and green ammonia, which is exported from India. With this, the industry will have yet another advantage, which will make the Indian industry totally competitive, added the minister.

Singh said that the renewable energy industry of India is now world-beating, consisting of majors that can compete anywhere. Singh told the industry that the government has made sure that it has opened the paths for the growth of the industry.

“We have been leading with policy papers, rules and regulations, opening new doors. We came with Green Open Access Rules, where we have given the right for anybody to set up capacity anywhere and transfer it to wherever they want. I have written to all industry captains to switch over from thermal to renewables, this shift will also bring down price of energy.”