Tag: renewable energy

Powering the Future: Hartek Hits 10GW Solar Grid Connectivity

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Hartek Group has made waves in India’s renewable energy landscape with its remarkable achievement of linking 10 gigawatts (GW) of solar electricity directly to the grid. This momentous achievement not only cements Hartek Group as an industry leader demonstrating its unfailing dedication to harnessing the sun’s abundant energy for sustainable solutions that lead toward a bright future for their country.

Hartek Group began with a vision to harness the sun’s power to meet India’s energy demands. Thanks to constant innovation, technological advancement, and its experienced team of professionals, they have consistently produced high-quality solar projects that set new benchmarks in their respective industry – reaching 10GW solar grid is a testament to Hartek’s expertise, commitment to sustainability, and ability to manage large-scale projects efficiently and precisely.

A Decade of Dedication In Boosting Solar Connectivity

In order to offer high-quality solar projects, the company has constantly invested in R&D, technical breakthroughs, and trained resources. Hartek Group has been able to complete large-scale solar systems throughout the nation by focusing on innovation and efficiency, helping India meet its renewable energy ambitions.

Key Achievements and Milestones

Hartek Group’s portfolio includes a wide variety of Renewable projects that demonstrate its competence and dedication to sustainable energy solutions.

Utility-Scale Solar Power Plant

Hartek has played a vital role in the construction of large-scale solar connectivity power facilities across India. Some of its noteworthy initiatives are:

  • Zeletra Solar Park: This 300 MW project in Rajasthan demonstrates Hartek’s capacity to execute large-scale projects effectively.
  • SJVN Solar Park, Jamui: This 75 MW solar power complex in Bihar currently under construction will contribute to India’s renewable energy targets.

renewable energy

Rooftop solar installations

Hartek has also been at the forefront of rooftop solar systems, allowing residential and commercial properties to use solar energy to meet their energy requirements.  We have installed over 200 MWp of rooftop solar across India. The organization has completed a number of projects across India, including:

  • Commercial & Industrial Buildings: Hartek has worked with companies to adopt rooftop solar systems, lowering operating costs and improving their sustainability profile.
  • Educational Institutions: The firm has installed solar systems in schools and colleges to promote renewable energy education while lowering energy expenses.

Grid Integration Expertise

Hartek’s extensive knowledge in smart grid power system integration has been critical in ensuring the smooth integration of solar electricity with existing energy infrastructure. Hartek has developed grid solar infrastructure up to 765 KV. The firm has used modern technology and solutions to:

  • Improve grid stability: Hartek has implemented methods to guarantee that solar electricity is absorbed into the system without generating any fluctuations or disturbances.
  • Improve grid reliability: To ensure the grid’s dependability, the business built fault detection and protection technologies.
  • Hartek has devised techniques to optimize the flow of solar electricity into the grid solar, resulting in the more effective use of renewable energy.

Technological advancements

Hartek has used cutting-edge technology to improve the efficiency and cost-effectiveness of its solar power installations. These advances include:

Hartek has adopted high-efficiency solar inverters to maximize energy production while minimizing losses.

  • Tracking systems: The business has used innovative tracking systems to guarantee that solar panels are constantly orientated towards the sun for maximum energy output.
  • Energy storage solutions: Hartek has investigated energy storage technologies, such as battery systems, to store extra solar power for use during times of poor solar production.

solar power installations

Hartek Solar Grid Connectivity in India

Hartek Group, India’s premier solar solution provider, has long been at the forefront of increasing solar grid connectivity in India. Their strong focus on renewable energy makes Hartek an instrumental force behind building India’s solar power infrastructure.

Hartek Solar Projects is an expert at designing, engineering, procuring, and constructing grid-connected solar PV systems. Hartek has successfully connected numerous projects to the grid for efficient transmission of clean energy to the masses. Hartek ensures seamless integration of solar power into grid infrastructure while adhering to all technical standards and regulatory requirements.

Hartek has made significant strides toward India’s renewable energy goals with its innovative solutions and cutting-edge technologies. It provides a Grid-connected system for solar projects to facilitate the transition towards a sustainable energy ecosystem. Our dedication to quality and reliability has earned them trust within the solar industry while driving the expansion of clean energy infrastructure within India.

A Brighter Future

The completion of 10GW solar grid connection demonstrates Hartek’s commitment to renewable energy and capabilities to carry out difficult projects on a large scale. This milestone is a key step towards India’s aim of generating 175 GW of renewable energy capacity by 2022. Hartek’s contribution to this ambitious goal demonstrates its experience, creativity, and dedication to a sustainable future.

Hartek group is well-positioned to shape India’s energy landscape as it expands its operations and explores new prospects in the renewable energy industry. Hartek is dedicated to empowering future generations by harnessing its knowledge, skills, and technical developments of solar connectivity.

FAQ’s:-

1. What is the significance of Hartek Group’s 10GW solar grid connection?
Hartek Group’s 10GW solar grid connection marks a major milestone in India’s renewable energy sector, boosting sustainable power generation and grid efficiency.
2. How did Hartek achieve 10GW solar grid connectivity?
Hartek achieved this by investing in R&D, using advanced solar inverters, tracking systems, and energy storage solutions for efficient grid integration.
3. What are the key projects contributing to Hartek’s 10GW solar grid?
Major projects include the Zeletra Solar Park (300 MW) in Rajasthan and the SJVN Solar Park (75 MW) in Bihar, boosting India’s solar capacity.
4. How does Hartek’s grid connectivity benefit India’s power infrastructure?
It enhances grid stability, reliability, and energy distribution efficiency, supporting India’s renewable energy goals and reducing carbon emissions.
5. What future plans does Hartek have for solar grid connectivity?
Hartek aims to expand its solar projects, integrate more energy storage solutions, and contribute to India’s renewable energy targets beyond 10GW.

Budget 2024: Empowering Energy Sector of India

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The 2024 Union Budget has ushered in a transformative phase for India’s power sector, particularly emphasising renewable energy initiatives. This budget aims to propel India towards energy independence while promoting sustainable and cost-effective energy solutions.

Substantial Investments in Renewable Energy

Finance Minister Nirmala Sitharaman’s budget speech emphasised substantial investments in the renewable energy sector, including solar and thermal power projects. The government aims to enhance the capacity of solar installations and improve grid infrastructure, ensuring a reliable and sustainable energy supply. This initiative not only addresses environmental concerns but also positions India as a leader in the global renewable energy market.

Renewable Energy

Incentives for Solar Adoption

The budget provides several incentives to encourage the adoption of solar energy. These include subsidies for rooftop solar installations and financial support for large-scale solar projects. By lowering the financial barriers, the government aims to make solar energy accessible to a broader segment of the population and promote energy self-sufficiency. Hartek Group, a leading player in the renewable energy sector, continues to support these initiatives by driving large-scale solar projects and enhancing solar accessibility across India.

A Boost for Solar Energy: Pradhan Mantri Suryodaya Yojana

A key highlight is the Pradhan Mantri Suryodaya Yojana, which promises 300 units of free solar rooftop electricity to each household every month. This initiative is set to benefit 10 million households, significantly reducing electricity bills and promoting the adoption of solar energy. Households can save up to ₹18,000 annually while contributing surplus energy back to the grid under the net metering system.

Strengthening the Power Grid

The budget also allocates funds to strengthen the national power grid, enhancing its capacity to handle the increasing influx of renewable energy. This includes upgrading transmission lines, improving grid management systems, and integrating advanced technologies to ensure efficient energy distribution.

Addressing Energy Storage

To complement the expansion of renewable energy, the budget emphasizes the development of energy storage solutions. This is crucial for managing the intermittent nature of solar and wind energy. Investments in battery storage technologies and other innovative solutions will help stabilize the power grid and ensure a steady energy supply.

Economic and Environmental Impact

The government’s focus on renewable energy is expected to have a positive economic impact by creating jobs in the solar and wind energy sectors. It also aligns with India’s commitment to reducing carbon emissions and combating climate change. By decreasing reliance on fossil fuels, India can save billions on petroleum imports and contribute to global environmental goals.

“The 2024 Budget reaffirms India’s dedication to energy transition and economic growth by easing tax revisions for solar value chain components, providing fiscal support for pumped storage and rooftop solar projects, and incorporating nuclear energy to ensure future readiness. The 2024 Budget presents a strategic roadmap for heavy industries, emphasizing energy efficiency and emission-based targets. By supporting the adoption of alternative energy sources in traditional clusters, the budget aims to facilitate decarbonisation goals and stimulate investment in tech startups within the sector” says Mr. Simarpreet Singh, Director, Hartek Group.

Conclusion

The 2024 budget marks a significant step towards transforming India’s energy landscape. With a strong focus on renewable energy, particularly solar power, the government is paving the way for a sustainable and energy-independent future. Hartek Group is excited to be part of this transition, contributing to the strengthening of India’s power grid and the realisation of these ambitious energy goals.

FAQ’s:-

1. What are the key highlights of Budget 2024 for the energy sector?
The 2024 budget focuses on solar incentives, grid upgrades, and energy storage investments to promote renewable energy growth in India.
2. How does Budget 2024 promote solar energy adoption?
The budget offers subsidies for rooftop solar installations and financial support for large-scale solar projects, making solar energy more accessible.
3. What is the Pradhan Mantri Suryodaya Yojana?
It’s a Budget 2024 initiative offering 300 units of free solar electricity monthly to 10 million households, reducing bills and promoting solar adoption.
4. How will Budget 2024 strengthen India’s power grid?
The budget allocates funds for upgrading transmission lines and enhancing grid management systems to support increased renewable energy integration.
5. What impact will Budget 2024 have on India’s energy independence?
By boosting renewable energy capacity and reducing fossil fuel dependence, the budget aims to enhance India’s energy security and sustainability.

India’s Top Renewable Energy Companies to Watch In 2024

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Renewable energy companies are emerging as key players, driving innovation, sustainability, and economic growth. As we navigate through 2024, India’s renewable energy sector is witnessing significant momentum.

As of 2022, India ranked fourth globally in installed renewable energy capacity, boasting over 100 GW of solar and wind power combined. India is projected to become the largest growth market for energy by 2040, with renewables accounting for 49% of the country’s total energy consumption (REN21 Renewables 2022 Global Status Report).

Renewable Energy Industry is propelled by the efforts of companies at the forefront of this transition. Let’s dive deeper into the profiles of these top renewable companies to watch in 2024

India’s Top Renewable Energy Companies

1. Hartek Group

Hartek Group has firmly established itself as a front-runner in India’s renewable energy sector. The company showcase its prowess in solar, wind, and now, green hydrogen solutions. It is renowned for its specialisation in solar and wind energy solutions. The company has left an indelible mark with its successful execution of numerous projects spanning the nation.

At the heart of Hartek Group’s success lies its robust portfolio of project engineering, procurement, and construction (EPC) services. Renowned for reliability and expertise, the company excels in delivering renewable energy solutions. They meet the highest standards of quality and efficiency.

Hartek has an unwavering commitment to innovation and sustainability. The EPC company continues to play a pivotal role in driving India’s renewable energy revolution. Through its pioneering efforts in solar, wind, and now green hydrogen, the company remains at the forefront of shaping a cleaner, greener, and more prosperous tomorrow.

2. NTPC Ltd

NTPC Ltd, India’s largest power utility, has been actively diversifying its energy mix towards renewables. With a strategic focus on wind and solar power projects, NTPC is making significant strides in clean energy generation.

Leveraging its extensive infrastructure and technological capabilities, the company aims to accelerate the acceptance of renewable energy. It also ensures energy security and affordability for the nation.

3. Tata Power

Tata Power is a subsidiary of the esteemed Tata Group. It has emerged as a key player in India’s renewable energy transition. With a multi-pronged approach encompassing solar, wind, and hydroelectric power projects, Tata Power is committed to sustainable development and environmental stewardship.

The company’s emphasis on innovation and community engagement underscores its dedication to creating a greener future for India.

4. JSW Energy

JSW Energy is actively pursuing opportunities in the renewable energy sector. This is a part of its strategic expansion plans. With a focus on solar and hydroelectric power projects, the company is leveraging its expertise in project development and execution.

It actively contributes to India’s renewable energy goals. JSW Energy’s emphasis on operational efficiency and sustainability aligns with its vision of becoming a leading player in the clean energy space.

5. Indian Renewable Energy Development Agency Ltd (IREDA)

IREDA plays a pivotal role in facilitating the growth of renewable energy projects in India through financial support and advisory services. As a specialised financial institution, IREDA provides a range of financial products tailored to meet the needs of renewable energy developers and investors.

By catalysing investments and promoting technological innovation, IREDA is instrumental in driving the expansion of India’s renewable energy sector.

Conclusion

India’s renewable energy sector is undergoing a paradigm shift. The Indian government has set a target of achieving 450 GW of renewable energy capacity by 2030, comprising 280 GW of solar power and 140 GW of wind power, signalling a significant opportunity for growth and investment in the sector.

To explore innovative renewable energy solutions, contact Hartek Group – your trusted partner in sustainable energy.

Companies are not only driving the transition towards sustainable energy but also fostering economic development, job creation, and environmental conservation. With ambitious targets set by the government and a conducive policy environment, India is poised to emerge as a global leader in renewable energy in the years to come.

FAQ’s:-

1. Which are the top renewable energy companies in India?
The top companies include Hartek Group, NTPC Ltd, Tata Power, JSW Energy, and IREDA.
2. Why is renewable energy important for India’s future?
Renewable energy ensures sustainability, reduces carbon emissions, and supports economic growth.
3. What role does Hartek Group play in renewable energy?
Hartek Group specializes in solar, wind, and green hydrogen solutions, leading India’s clean energy transition.
4. How is India promoting renewable energy adoption?
India aims to achieve 450 GW of renewable energy capacity by 2030 through policy support and investments.
5. What are the benefits of investing in renewable energy?
Investing in renewable energy leads to lower costs, energy security, job creation, and environmental sustainability.

Why Renewable Energy Evacuations Demands a Decisive Push

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Installing The New Renewable Energy Demand Capacity Has Its Due Share Of Problems But Integrating It With A Nascent Grid Poses A Much More Formidable Challenge.

Up against a staggering renewable energy demand target of 175 GW by 2022, India has its task cut out. Installing the new capacity has its due share of problems but integrating it with a nascent grid poses a much more formidable challenge. The country’s solar power generation capacity has gone up 32 times in a span of just six years, from 0.5 MW in 2011 to 16 GW now, but the transmission infrastructure is far from prepared to evacuate the kind of solar power being injected into the grid.

Renewable Energy

Power Generation: Renewable Energy Demand

With the transmission system failing to keep pace with the increase in solar power generation, the glaring mismatch is bound to put immense pressure on the present transmission infrastructure, a situation which we can ill-afford bearing in mind the high stakes in the solar sector. Hartek Group, a leading player in renewable energy solutions, emphasizes the need for robust grid infrastructure to support the growing solar capacity.

We still have lessons to learn from India’s worst blackout of 2012, which plunged the entire North India into darkness for two days. Given the sporadic nature of electricity from clean energy sources like solar and wind, there is a need to ensure the transmission infrastructure is capable of handling the sudden surges in electricity during peak hours. With the evacuation system not yet ready, we are witnessing a situation where solar plants are being constrained to restrict generation, which is resulting in huge financial losses to developers.

Green Energy Corridors:

Though the government has embarked on a $3.5-billion Green Energy Corridors (GEC) programme to overcome these challenges of power evacuation by strengthening the grid network, it is a daunting task which has to be taken up on a war footing to be able to deliver the desired results. The biggest challenge before us is to ensure that transmission systems are in place before the solar projects are ready. Considering that executing transmission projects takes up to five years as compared to 12-18 months for solar projects, we need to act urgently and decisively.

The GEC programme needs further push in order to ensure sufficient thrust from the industry in solar-rich states like Gujarat and Rajasthan. The mismatch between the number of demand centers and the available corridors is also a major concern. For instance, the 1,000-MW substation project at Kaythar in Tamil Nadu, which was scheduled to be commissioned earlier this year, has yet not seen the light of day for the simple reason that independent power producers are more inclined to evacuate the power to Gujarat and Maharashtra rather than the Northeast through the planned corridor. Distance can also be a major issue in India with six states in the western and southern parts accounting for 80% of the country’s installed solar capacity but only 38% of the power demand. The GEC programme is aimed at evacuating power from renewable energy-rich states to other states through 765 kV and 400 kV high-voltage transmission lines.

With storage facilities for solar energy lacking, how we manage the power generated at a specific point presents a stiff challenge. Maintaining grid stability can pose a major problem when a large amount of solar power is injected into the grid. Things can become even more difficult when the share of renewable energy in total power generation goes up in due course of time, but the constant flow of power is still lacking. The situation can, however, be overcome with modern technological breakthroughs and advancements like smart grids and solar energy storage solutions. Since many large solar facilities are in remote locations like deserts where grid infrastructure does not exist, we need to find a viable way to connect to and store solar energy, as and when needed. Bearing this in mind, the three-year action plan formulated by the Ministry of New and Renewable Energy has asked the Solar Energy Corporation of India to focus on storage solutions.

Though there has been considerable progress in coordinating generation and transmission at the state level to ensure sufficient in-state transmission, a lot more remains to be done. States should take it upon themselves to avoid delays in project execution by providing last-mile connectivity between inter-state and intra-state transmission lines, which is part of their responsibility. While the work at the national grid level is making some progress, the inadequate preparedness of states at the distribution grid level is a cause for concern.

Solar Power Developers:

Some of the states have even started asking wind and solar power developers to curtail generation in view of the insufficient transmission capacity. As a result, project developers are incurring revenue losses. To counter the situation, the Ministry of New and Renewable Energy has issued an advisory asking state power utilities not to direct renewable energy developers to reduce generation.

The inter-state transmission corridor being developed by Power Grid Corporation of India will help only if the transmission utilities in states supplement the effort by developing and strengthening their transmission infrastructure. Only then can we exploit the renewable energy potential of places like Ladakh and Jaisalmer and meet the growing power requirements of regions with high consumption. On the brighter side, states need not be worried about fulfilling their renewable purchase obligations, considering that the renewable energy costs are expected to decline once the inter-state sale of renewable energy picks up through the green energy corridor. Making the proposition even more viable, they have been exempted from paying the inter-state transmission system charges.

However, the efforts have to be doubled. There is a dire need to have a mechanism in place to ensure coordination between renewable energy generation and transmission at the state level so that there is sufficient in-state transmission. The scheduling and dispatch between states and regions must also be coordinated on priority. The government should come up with regulatory and policy guidelines which optimize cost-effective capacity expansion. In view of the intermittent nature of renewable energy, it is imperative to equip states with state-of-the-art renewable energy forecasting tools.

The Green Energy Corridor needs to be significantly widened so as to accommodate 50 more ultra-mega solar parks, in addition to the 34 under construction. While upgrading the transmission infrastructure to cater to the ever-growing needs of the future, Hartek Group emphasizes that the government should also not lose sight of the fact that the country’s per capita power consumption is projected to grow four times by 2030. These factors call for massive investments in the T&D segment for which private participation is a must. It is time for the policymakers to ensure the power sector is ready for the turnaround.

FAQ’s:-

1. What is driving the demand for renewable energy in India?
The growing need for sustainable power, government initiatives, and rising energy consumption are fueling renewable energy demand in India.
2. How does grid infrastructure impact renewable energy demand?
Inadequate grid infrastructure limits the ability to transmit and store solar and wind energy, creating challenges in meeting rising renewable demand.
3. What are Green Energy Corridors (GEC) in India?
Green Energy Corridors are transmission networks designed to evacuate renewable energy from solar-rich states to demand centers across India.
4. How does renewable energy storage affect demand?
Limited storage capacity hinders consistent power supply, impacting the reliability of renewable energy and slowing down its demand growth.
5. What role does policy play in meeting renewable energy demand?
Government policies promoting grid expansion, energy storage, and renewable purchase obligations are vital in meeting India’s energy demand.

Economy of Scale Holds Key to Renewable Energy Re-Manufacturing

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Leveraging the ‘Make in India’ Campaign for Renewable Energy Growth

The renewable energy industry can draw a lot from the government’s flagship ‘Make in India’ campaign to bolster its prospects.

The Rise of Renewable Energy and Its Impact

With sustainability being the order of the day, manufacturers across the globe are increasingly developing more and more efficient ways of tapping renewable energy. Aimed at reducing dependence on fossil fuels, this welcome trend is contributing to clean energy competitiveness. Making giant leaps in the renewable energy sector, India, too, is at the heart of this transition.

India’s Renewable Energy Growth Trajectory

In 2016-17, the output of renewable power projects went up by 26 percent, making the Indian renewable energy sector the fastest-growing in the world. According to the National Resource Defense Council, more than 1 million full-time equivalent jobs will be created by the solar industry alone by 2022. This includes more than 2 lakh engineering jobs and over half a million skilled sector jobs. The wind sector, on the other hand, will help generate 1.9 lakh jobs in the next five years.

‘Make in India’ and Its Role in Renewable Energy

The renewable energy industry can draw a lot from the government’s flagship ‘Make in India’ campaign to bolster its prospects. Hartek Group, equipped with high-quality manpower to support the domestic solar and wind manufacturing markets, is helping India emerge as a global manufacturing powerhouse catering to all the needs of the renewable energy sector.

Opportunities for Domestic Manufacturers

The ambitious target of scaling up clean power production to 175 GW by 2022 will create massive opportunities for domestic manufacturers. To capitalize on this growth, manufacturers must innovate and adapt to market demands.

Innovation and Competitiveness in Solar Manufacturing

The future of the solar manufacturing business will depend on how Indian companies beat the competition through constant innovation, quality improvement, and marketing. Despite competition from Chinese manufacturers, India holds a massive market potential for solar panels.

Government Support and Policy Initiatives

Government Support and Policy Initiatives

To realize this potential, domestic manufacturers should prioritize clean energy strategies. The government can support this by offering:

  • Incentives and subsidies

  • Effective energy and solar skill development policies

  • Establishment of more module assessment labs

  • Encouragement for R&D initiatives

  • Reduction of procedural delays in executing projects

Challenges in Domestic Solar Manufacturing

Despite the immense scope, challenges remain. Lack of scale and an underdeveloped supply chain hinder growth. Flexible incentives and financing options, effective net metering policies, and anti-dumping duties on foreign solar module manufacturers are critical needs.

Strengthening India’s Solar Industry Competitiveness

To make the Indian solar industry globally competitive, the government should focus on a larger policy framework that supports domestic manufacturing plans. This will help India:

  • Control the solar supply value chain

  • Increase revenue and profitability

  • Address issues related to transport, infrastructure, taxation, and power outages

Building a Skilled Workforce

The government should create a skilled workforce by introducing solar manufacturing courses under the National Skill Development Mission. Supporting large-scale projects and fully integrated manufacturing plants under the ‘Make in India’ policies will be essential.

Economies of Scale and Cost Reduction

To achieve economies of scale, India must reduce manufacturing costs. This will enable strategic innovation and promote exports, boosting the overall competitiveness of the industry.

Global Trends and Manufacturing Clusters

The government should take cues from global trends by establishing integrated solar industrial clusters. This will foster better industry linkages, enhance manufacturing efficiency, and support innovation.

Impact of Global Competition

Some of India’s largest solar equipment manufacturers are facing financial losses due to competition from Chinese firms, which prioritize low-cost power over local manufacturing. Interestingly, prior to the National Solar Mission, Indian solar firms were focusing on OEM manufacturing and exports, generating billions in export revenues. However, with the entry of Chinese competitors, module prices fell sharply, resulting in a substantial market share loss for Indian companies.

Government Measures to Boost Domestic Manufacturing

To correct this imbalance, the government offers 20-25 percent capital subsidies and other incentives under the ‘Make in India’ campaign. The Viability Gap Funding (VGF) mechanism and GST relaxation (waiving 12% countervailing duty and 5% VAT on domestic solar components) aim to boost domestic solar production.

Future Growth Potential

According to government capacity targets, India’s annual solar module market could exceed $10 billion in the coming years. However, to avoid straining the power infrastructure, the government and industry must implement corrective measures.

Fostering a Sustainable Future

A ‘reduce, encourage, deregulate’ policy for power generation can benefit Indian manufacturing by ensuring cheap and readily available power. The government plans to spend Rs 210 billion ($3.1 billion) on India’s solar panel manufacturing industry, aiming to increase photovoltaic capacity and create an export-oriented sector.

India’s Renewable Energy Investment

In 2016, India accounted for 5 percent of the world’s renewable energy capacity, investing $9.7 billion (Rs 64,990 crore), according to the Renewables Global Status Report 2017 by REN21. Direct and indirect renewable energy jobs (excluding large hydropower) reached 8.3 million globally in 2016.

Challenges with Cheap Imports

Despite the growth, domestic manufacturers face challenges from cheap imports, with Indian firms accounting for only 13 percent of supply. The Indian Solar Manufacturers’ Association has called for safeguard duties on solar cells and modules.

Funding Challenges

Another issue plaguing Indian manufacturers is the lack of access to funding for building manufacturing units. Private banks remain hesitant to offer loans at attractive rates.

Favorable Government Policies

The government’s efforts, including DCR quota for government-based energy projects and financing support, have benefited domestic solar manufacturers. However, further support is needed.

Positive Outlook for Domestic Manufacturing

The Indian government is committed to supporting domestic manufacturing. Plans to release a new solar manufacturing policy with VGF subsidies will help Indian companies compete globally.

Solving Macro Challenges

To promote domestic manufacturing, India must address macro challenges such as:

  • Ease of doing business

  • Infrastructure development

  • Affordable financing

  • Reliable local raw material supply chains

Solving Macro Challenges

Promoting Private Investment

The Ministry of New and Renewable Energy encourages private investment by offering fiscal and financial incentives and allowing 100% foreign direct investment (FDI) in renewable energy.

Boosting Solar Inverter Industry

The solar inverter industry in India, still in its early stages, will expand as domestic solar module manufacturing strengthens.

Increasing Domestic Capacity

To meet annual solar targets, India must increase domestic manufacturing capacity. For reliable solar solutions, contact Hartek Group – your trusted partner in renewable energy. The DCR policy under the ‘Make in India’ plan supports this initiative, but more state-level mandates are needed to ensure sustainable growth.

FAQ’s:-

1. How does the ‘Make in India’ initiative support renewable energy?
The initiative boosts domestic solar and wind manufacturing through incentives, subsidies, and policy support.
2. What are the key challenges in India’s renewable energy sector?
Challenges include competition from imports, funding constraints, and infrastructure gaps affecting domestic manufacturing.
3. What government policies promote renewable energy in India?
Policies include Viability Gap Funding, GST relaxation, skill development programs, and incentives for domestic manufacturers.
4. How does renewable energy contribute to job creation in India?
The sector is projected to generate over 1 million jobs in solar and 1.9 lakh jobs in wind energy by 2022.
5. What is India’s target for renewable energy capacity?
India aims to scale up renewable power production to 175 GW by 2022, creating growth opportunities for manufacturers.