Solar power generation in India to reach 25 million units by end of FY19
13 Dec 2018
Electricity generation from solar energy in the country for the financial year 2018-19 stood at 21.365 billion units as of 31 October 2018, figures released by the Central Electricity Authority (CEA).
Electricity generation from solar power projects, which rose from 7.448million units in 2015-16 to and to 13.499 million units in 2016-17 and to 25.871 million units in 2017-18 is projected to increase to 25.871 million units by the end of fiscal 2018-19, as per CEA estimates.
The government, which has raised its renewable energy production target from 100 Giga Watts by 2022, has raised it further to 175 GW in its push for clean energy.
It has also taken various steps to increase generation of renewable energy, which, inter-alia, include:
- Announcement of a target of installing 175 GW of renewable energy capacity by March, 2022;
- Declaration of trajectory for renewable purchase obligation (RPO) up to the year 2021-22;
- Fiscal and financial incentives such as capital subsidy, viability gap funding (VGF), accelerated depreciation benefits etc;
- Permitting 100 per cent foreign direct investment (FDI) under the automatic route in renewable energy sector;
- Guidelines for procurement of solar and wind power through tariff based competitive bidding process;
- Waiving of interstate transmission system charges and losses for inter-state sale of solar and wind power for projects to be commissioned up to March 2022;
- Raising funds from bilateral and multilateral finance and development institutions; and
- Implementation of green energy corridor project to facilitate integration of large scale renewable generation capacity addition.
Minister of state (independent charge) for power and new and renewable energy R K Singh gave these details in a written reply in the Rajya Sabha today.