n our Special Series, Year ender-2020, today we bring you a report on India’s quest for clean and green energy resources. The NDA government at the Centre led by Prime Minister Narendra Modi has drastically changed the landscape of energy production, distribution and its access in the last 6 and a half years. The turnaround story in the power sector can be gauged by the fact that the nation today has an installed capacity to generate almost double of its peak energy requirement. The success story in this sector is equally shared by the robust growth in generation of energy from new and renewable resources.
With progressively declining costs, improved efficiency and reliability, renewable energy is an attractive option for meeting the energy needs across different sectors of the economy. The price per unit of electricity presently comes at nearly half of that generated from fossil fuels. And this too, will reduce further with the kind of research and innovation going on in the field. Speaking exclusively to AIR News, Union Minister for New and Renewable Energy, R K Singh said.
The Central Government upscaled the targets of solar power installation in the country under National Solar Mission in 2015 and raised it to 100 Gigawatts from just 20 GigaWatts. The ‘Annadata’ farmers in the country have been fortified by making them as ‘Urjadatas’ as well, under the multi beneficial scheme, PM-KUSUM. The scheme allows farmers to set up small solar power stations in their barren lands which can be sold to the state governments. It allows installation of solar power pumps, thus solving the issue of irrigation for vast stretches of agricultural land. Government is also promoting solar rooftop systems in commercial, industrial and residential sectors through policy and regulatory interventions. Renewable energy projects have been given priority sector lending status for loans up to a limit of 30 crore rupees. Despite the pandemic and lockdown of last year, the bidding for new projects and installation projects continued in the sector. The renewable energy sector also gives a boost to an Atmanirbhar Bharat, as it will reduce dependency on coal which is imported from foreign countries. Government has rolled out production linked incentive schemes for the sector under which highly efficient machineries and modules are manufactured and designed indigenously.