Industry Bullish on Renewable Sector but Issues Linger

High tariff and the expensive infrastructure mire the sheen of the sector, issues which the industry wants to be resolved in the forthcoming year.

The recently held COP24 renewed the focus of world government’s on the increasing need of solar energy and India government and the industry also agrees with the fact.

However, high tariff and the expensive infrastructure mire the sheen of the sector, issues which the industry wants to be resolved in the forthcoming year.

The government’s effort will be on increasing the share of green energy in India’s energy mix to combat climate change. But experts believe that key issues such as of tariffs, safeguard duty, clarity on GST and then, fulfilling a humongous investment order of Rs 5.12 lakh crore, must be resolved before the industry could really pick up.

Power and New & Renewable Energy Minister R K Singh said, “Our endeavour remains to enhance the share of green power and be an effective partner in the fight against climate change so as to leave behind a healthy planet for future generations.”

He further said that New and Renewable Energy sector has received the utmost urgency which is rightly deserves which is also proved by the fact that Narendra Modi, was conferred with United Nations ‘Champions of the Earth Award’ this year. He was awarded for his exemplary work in conservation of environment, promotion of renewable energy, setting of International Solar Alliance and his efforts to fight climate change.

A total renewable capacity of 73.35 GW has been installed in the country till October 31, 2018, according to MNRE. Another 21.55 is in varied stages of development whereas 25.21 GW more is in various stage of bidding.

Source: PTI