With sooner new capability addition, the solar energy section is anticipated to surpass the wind section’s cumulative capability this fiscal.
The hole between the 2 clear vitality segments has been narrowing and at present stands at about 1,900 plus MW.
Throughout October 2020, a complete of 406.22 MW of latest capability was added within the renewable vitality (RE) sector, taking the cumulative RE vitality capability to 89.63 GW as on October 31, 2020. Within the whole capability, the wind energy section accounted for 38.26 GW, whereas the overall photo voltaic capability’s share was 36.32 GW, in line with a Union Ministry of New and Renewable Power (MNRE) doc.
Tasks with a complete capability of about 50 GW are at numerous levels of implementation, whereas initiatives of 27.41 GW capability are below numerous levels of bidding. A serious chunk of those initiatives is within the solar energy section.
The previous 5 years have seen an enormous capability addition within the renewable vitality sector. The full RE capability has grown from 45,924 MW as of March 31, 2016 to 88,793 MW as of March 31, 2020.
Supported by a beneficial authorities coverage framework and falling costs, solar energy capability has grown by greater than 11 occasions within the final 5 years until March 2019, whereas wind vitality capability has grown by simply 1.7 occasions previously 4 years.
Each photo voltaic PV and wind vitality are the 2 most cost-competitive energy sources on the grid, priced a lot decrease than fossil-fuel based mostly energy.
Whereas the photo voltaic section continues to guide the capability addition, the wind energy section has been transferring at a sluggish tempo.
Wind’s land impediment
The wind vitality section dominated new capability addition until a couple of years in the past. The seven states within the nation with wind useful resource have been conventional demand centres and are accountable for a lot of the installations to this point.
Nonetheless, venture exercise has declined within the final two years, following the introduction of central auctions. Although photo voltaic PV had its personal set of related dangers, these weren’t as extreme as these pertaining to land availability for wind vitality initiatives.
“Going ahead, wind energy installations are anticipated to stay muted and India might fall in need of its 2022 targets resulting from challenges round pricing, cost threat mitigation, transmission capability and land use,” says the India Wind Outlook In the direction of 2022 report.
In the meantime, it’s gathered that greater than 15 GW of latest utility-scale photo voltaic PV and wind capability initiatives have been sanctioned by way of aggressive tenders throughout the first half of 2020, nearly equal to the overall quantity sanctioned competitively in 2019, indicating sustained curiosity to put money into the Indian renewable vitality sector regardless of the pandemic.