New renewable capacity additions doubled in FY2022 – pv magazine India

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According to the last solar statistics of the CEEW Center for Energy Finance (CEEW-CEF) Market Handbook.

Solar accounted for 90% of total renewable energy capacity added in fiscal year 2021-22, driven in part by a 21% increase in rooftop solar installations to 2.3GW.

As of March 31, 2022, India’s cumulative renewable energy generation capacity (including hydropower) stood at 150 GW. This is far from the national goal of installing 500 GW of non-fossil fuel capacity by 2030, and the country will need an annual deployment of 40 GW to meet its 2030 target.

“The more than 100% increase in renewable energy capacity addition this fiscal addition versus capacity addition in FY21 is encouraging. However, the recent strain seen in the electricity, with several states facing the prospect of blackouts, underscores the pivotal role that thermal energy continues to play in India’s energy mix,” said CEEW-CEF Director Gagan Sidhu “A further increase in renewables can provide a significant degree of protection against the kind of supply chain issues that plague thermal power, but for that, battery storage needs to be deployed at scale to solve the main disadvantage of renewables: intermittency Other innovative supply formats such as hybrid and 24-hour (RTC) also offer some degree of protection against int hermit.

Of the 17.5 GW of renewable energy capacity auctioned in fiscal year 2021-22, 4.3 GW was under hybrid and PSTN supply formats. Sidhu expects that share to continue to grow as distribution companies increasingly look to developers to meet the challenge of renewable energy intermittency.

An increase in the cost of raw materials and constraints in the supply chain have led to an increase in the costs of solar photovoltaic modules. Rising module costs and the impending imposition of basic tariffs led to an increase in the lowest solar tariff of INR 2.14 ($0.028)/kWh in FY 2021-22 from 1 .99 INR/kWh in FY 2020-21.

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