Government of India on renewable energy

In the year 2021-2022 the renewables industry is to contribute 21% of electricity demand in
India. This news is from NEW DELHI: The power minister of India RK Singh said on
Thursday that the renewable energy resources are expected to account for 21% electricity in
demand in the year 2021.

RK Singh is the chief of the Central electricity authority‘s national electricity plan, as per the plan,
the contribution of renewable energy sources is estimated to be around 21 percent of the
the total electricity demand of the country in the year 2021-22 and 24 percent by 2026-27. This
the statement was issued by the power ministry. Some of the major steps taken by the Indian
government to achieve the goals and targets of the renewable energy industry include
allowing foreign direct investment up to a hundred percent under the automatic route,
strengthening of Power Purchase Agreements(PPAs) and mandating requirement of Letter
of Credit(LC) as payment security mechanism by distribution licensees for ensuring timely
payments to renewable energy generators.
Additionally, the Indian government has set a goal of 175 GW of renewable energy capacity
in the country by the year 2022. This includes 100 GW from solar, 60 GW from wind, 10 GW
from biomass, and 5 GW from small hydropower.
An institution called the Ministry of new and renewable energy; MNRE headquartered in New
Delhi is part of the government of India to analyze and implement new and existing policies
with respect to this field. Some of the institutes that MNRE has tied up with are as follows:
● National Institute of Solar Energy
● National Institute of Wind Energy
● National Institute of renewable energy
● Solar energy Corporation of India
● Association of renewable energy agency of the state
● The Indian Renewable energy Development Department.

A few initiatives from MNRE are as follows:

1. India is now in the fifth position globally for installing renewable energy capacity.
2. In the last five years, 226% Renewable energy installed capacity increased.
3. Solar power tariff reduced by more than 75% of people using plug and play model
4. India has a share of 23.39% in the total INSTALLED GENERATION CAPACITY IN
   THE COUNTRY i.e. 368.98 GW (Upto 29th February 2020).
5. WORLD’S LARGEST RENEWABLE ENERGY EXPANSION PROGRAMME 175 GW
   TILL 2022
   The Ministry of New and Renewable energy is a department of the Government of India. Its operations are on renewable energy and solar power. More information about MNRE can be found on its website www.mnre.gov.in. All the work that MNRE undertakes is to fulfill the Energy requirements of Indian prospects. Energy security, availability, affordability, and equity for the people of India are a few of its goals. MNRE also undertakes research and development work in the same field to come up with better techniques for renewable energy sources such as the ocean, wind power, small hydro, biogas, and solar power. MNRE launches various schemes in the same field of solar or thermal power energy yearly. For example, One such plan or scheme was To develop wind and solar hybrid parks.