Promising Government Policies To Help Renewable Energy Sector To Growth

In layman’s terms, renewable energy is targeted as electricity generated by fuel sources. These are designed to restore themselves over a shorter period and won’t diminish. The solar power ability is hard to ignore as it forms a crucial part of renewable energy.

The Indian government is working hard to come across some policies to help renewable energy hike up to the next level of popularity. The government is now encouraging people to invest in solar power units and use the results to help light up the environment.

Different policies are playing towards the solar power advantages and helping India to be a major hub of solar panel energy and some other renewable sources. Understanding more about the policies will help you to take a further step forward.

Identifying the renewable technologies:

While most of the states identify renewable technologies quite differently for their purpose of matching state goals and targets, most of them will include biomass, solar, wind, geothermal, and biogas. Then you have the lower impact hydroelectricity to follow. Before you learn more about solar power, let’s focus on the options for using renewable energy.

• Generating renewable energy on the site:

Now get the chance to generate renewable energy using a device at a location where the power is used.

• Procuring renewable energy:

Get the chance to procure solar power benefits and other renewable energy through some “renewable energy certificates.” Also known as tradable renewable certificates or green tags, these documents represent the environmental attributes and technology behind electricity, as generated from multiple renewable resources.

• Using electric utility facility:

Before you jump straight into the benefits of solar power, remember that you can purchase renewable energy from the electric utility through green pricing or marketing program. Here, the buyers need to pay a smaller premium for electricity generated locally from renewable sources only.

The major Indian government policies on renewable energy:

Let’s delve right into the major government policies revolving around renewable energy in India, making it a lucrative business prospect,

• Electricity Act 2003:

This act offers a framework for overall electricity sector growth in India. It provides major provisions for preferential tariffs for procuring renewable energy.

• National Electricity Policy, 2005:

This policy deals with preferential tariffs for power, as produced from renewable energy sources. The main goal is to offer electricity access to all.

• Tariff Policy 2006:

It is one significant mechanism of the RPO for fixing the minimum percentage of purchase of energy consumption by the states under renewable energy sources.

• Integrated Energy policy 2006:

This is one significant integrated policy dealing with a focus on renewable energy development and will set specified targets for the current capacity additions.

Some of the other policies:

Apart from the ones mentioned already, some other renewable energy-centric government policies in India are National Action Plan on Climate Change (NAPCC), 2008, Generation Based Incentives (GBIs) for Solar, Jawaharlal Nehru National Solar Mission (JNNSM), 2010, and more.

Willing to learn more about these policies before entering the renewable energy market? If so, then Alfainfraprop is your answer. Ringing them up at +91-22-42429999 or emailing info@alfainfraprop.com will surely help!