1,75,000 MW Target Should Be Taken As Mission For Energy Security : Goyal

Government is quite serious about the achieving the renewable energy target of 175000 MW by 2022 and it is taking all the steps to achieve this ambitious target. In line with that Piyush Goyal, Minister of State (IC) for Coal, Power and New and Renewable Energy has launched IREDA’s loan scheme for Rooftop Solar PV power projects, which will prove crucial for expansion for rooftop solar projects both in urban and rural area. Under this scheme a loan will be provided at an interest rate of 9.9 to 10.75 % to the system aggregators and the developers. Goyal also addressed a workshop on the grid connected solar rooftop. He said; “Target of generating 1,75,000 MW of Renewable energy by 2022 should be taken as a mission for ensuring energy security of the country.” “India will soon lead the league of pioneer countries of the world in the field of renewable energy,” he added.

Top officials of the government are quite bullish about the potential of solar energy in the country. “India has great potential for solar rooftop projects which has not been exploited fully at present. "Government of India has set a target of 100,000 MW grid connected Solar Power in the country and out of this 40,000 MW has to come from Solar Rooftop systems,” quipped Pradeep Kumar Sinha, Cabinet Secretary. Having that target in hand government is now working on the policy and regulatory interventions.

As ministry power and renewable energy are working in conceiving this policy frame work, state regulators also have a role to play in this. “State regulators have to fix the tariff for RE power which goes to grid. This is important factor in popularising RE programme,” Sinha added. For this policy framework to be operational, already amendments in the electricity act has been proposed where by renewable generation obligation has been introduced. In addition to this renewable power obligation in the tariff policy has also been raised. Stringent penalties for violations have also been proposed in the amendment.