Context:
India is progressing well toward achieving its clean energy goals pertaining to solar power and battery energy storage systems by the year 2030.
Key Highlights:
- Solar Power & BESS Progress:
- India is on its way to meet its 2030 targets for solar energy and battery storage systems.
- Current government policies and subsidies are supporting growth in these areas.
- Urgent Need for Offshore Wind & Green Hydrogen Support:
- Deployment and competitiveness of offshore wind and green hydrogen require immediate government attention.
- Offshore Wind Challenges:
- Offshore wind faces the biggest cost gap, making it difficult to scale without sufficient support.
- Current government support for offshore wind is inadequate.
- Offshore wind is a renewable energy source that generates electricity from wind blowing across the ocean
- Required Financial Support for Offshore Wind:
- An additional ₹ 9,000 crore per GW of support is needed to unlock 71 GW of offshore wind potential in India.
- Global Competitiveness:
- Offshore wind and green hydrogen need urgent government intervention to become competitive in the international clean energy economy.
India’s Clean Energy Vision:
- India is progressing well with solar and energy storage systems but requires more support for offshore wind and green hydrogen to meet global standards.
