May 10, 2021 Read More →

IEA reports India capable of doubling renewables capacity by 2040

Saur Energy:

Grid integration of large-scale variable renewables will be one of India’s biggest challenges as it aspires to decarbonise its power economy through deployment of 450 gigawatts (GW) of renewable energy (RE) by 2030. Reaching this target from the current installed renewable capacity of 93 GW will require average annual renewable capacity additions of ~35 GW.

The International Energy Agency’s (IEA) India Energy Outlook 2021 suggests India could further double its renewables capacity to 900 GW by 2040. With record low solar tariffs of below Rs 2.00/kWh (USD 27/MWh), renewables in India are now extremely cost competitive with coal-fired power and are set to be the dominant source of power supply for decades to come.

Currently, renewables form 10 percent of India’s total power generation and that share will increase to 31 percent by 2030 with 450GW coming online. While integration of large-scale variable renewables is one of the biggest challenges for the transition of India’s power market, leaders in large-scale renewable penetration – Germany with 46 percent, South Australia with 60 percent and California with 36 percent of total generation coming from renewables – show that it can be done.

As the share of variable renewable generation continues to increase, India’s power system will have to evolve and modernise to respond to grid stability challenges. There is a need for an accelerated deployment of assets such as utility-scale battery storage in order to store power when it is available in abundance and provide firm power later, during the evening.

[Staff Report]

More: As RE Continues to Expand, India’s Battery Storage Market a Sleeping Giant: IEEFA

Posted in: IEEFA In the News

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