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Published:Wednesday, February 12, 2020 7:24 PM

The Eighth Green Energy Summit-2020 (Renewable Energy Should Lead Energy Transition)

The Eighth Green Energy Summit-2020 (Renewable Energy Should Lead Energy Transition)

The Eighth Green Energy Summit-2020, organized by Indian Chamber of Commerce, started in New Delhi with a theme “Renewable Energy Should Lead Energy Transition”. The event was decorated by eminent speakers from RE Industry who discussed variety of topics in Renewable Energy sector encompassing ongoing and future aspects in length.
 
While not only limiting to this, the summit encouraged an environment where various stakeholders from manufacturing industry, project developers, railways, development agencies and policy experts had had thorough discussions on recent announcements by Central Government and their implication on renewable industry. Eventually, the emphasis was centralized towards Green Energy transition, Energy Storage, Clean Energy, Innovation, Investments & Project financing and Promotion of E-Vehicles.
 
Dr Ajay Mathur (DG, TERI) clearly stressed to the need for storage and how it is going to be necessary in coming future. And as price of solar power has not been an issue and storage being the future it is not too far that Indian grid will be moving to RE Power to meet this Demand & Supply Gap. The Energy storage will play a pivotal role to square off energy requirements and load levels. Adding more, the electricity demand is expected to increase further as e-mobility and other electricity consumption are expected to increase which will intermittently take a shift towards energy storage and such devices.
 
In addition to this, it is also very important to look at the various methods of demand reduction which technically as well as economically viable. This change must be driven by power distribution companies to manage demand by encouraging consumers to optimize or shift their consumption from peak to non-peak hours. While referring to the recent developments of energy storage industry in India it should be well recognized that these changes are positive steps towards overall development of Renewable Energy Sector.
 
The discussions on government policies and finances emphasized on various challenges to RE sector which was identified as one of the priority sectors for lending by RBI. This also highlighted the fact that even after various initiatives such as GBI, 100% FDI in RE sector, VGF funding and Feed-in-tariffs there is a need to assess the reasons at both functional and policy level that RE sector has not been picking up the pace in India as expected. The ambitious plan of 450 GW is seen as a challenge thrown at private sector players and highlights some valid concerns regarding identification of land and removal of barriers, both technological and financial for localized manufacturing of modules.
 
India is a very thin market for green energy bonds whose potential has been explored worldwide specially in european countries. However, this may only be explored due to government policy intervention and this area must be looked to reap the benefits of green energy bond market.
 
Moving further, finances and taxation in solar manufacturing industry was discussed and various challenges were identified in solar manufacturing industry. The emphasis should be given to technology driven industry along with a policy ecosystem that ensures continuous investment to keep RE sector agile and relevant which will help to achieve the clean energy goals. The inconsistencies of policies have posed a huge challenge to local solar manufacturers coupled with other issues such as low-cost imports and high cost of finances. The discussion panel/ speakers were esteemed industry majors in solar manufacturing industry such as Amplus Solar, Vikram Solar, DuPont and Tata Power Solar.
 
Even though imposition of safeguard duties has helped RE sector manufacturers to move from panel supplies to small rooftop plants to large utility scale grid connected plants. A strong view by majority of speakers shows that emphasis should be given to develop more local manufacturers and focus should be given to tap the potential of global market. However, there is a need to boost investments in Module Technologies as solar developers are struggling to get indigenously developed high quality modules. Ms. Ritu Lal (Amplus Solar) highlighted that Indian RE Industry must be at receiving end of the initiatives like Make in India. Also, it must be understood that both Make in India or 450 GW of RE target by 2030 must be treated differently at policy making level as both are two different initiatives and must be looked at differently.
 
E-Vehicle industry is at a very nascent stage and it is a necessity that cannot be ignored which may further help in reducing crude oil imports. The EV industry is destined to grow as it a clean transportation solution but how fast this growth can be achieved will set up the center stage for future of e-mobility. However, there is an immediate need to address the challenges of e-vehicle industry such as setting up of charging stations, solutions for fast charging, robust roadmap for waste disposal and increased outreach of e-vehicle to the masses. Along with this, the policy makers shall also look at enabling and innovative approaches to meet overall objectives of e-mobility.

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