By Solar Times Bureau
To promote and encourage more utilization of the renewable energy the Ministry wants private sectors to take some initiatives and encourage investment
According to the Ministry of New and Renewable Energy estimation India has a potential of generating over 2, 45,000 MW from various renewable energy resources available, if renewable energy is efficiently tapped and by implementing new and improved technologies and modern technology machineries and equipments are utilized for power generation. Ministry aims to achieve the target of 2, 45,000 MW capacity of renewable energy. India is slowly and steadily maturing in the field of renewable energy, the capacity of generation and consumption of renewable energy is increasing year by year. Renewable energy is contributing in the consumption of energy since many years; in recent three years the contribution of renewable energy has showed a significant record increase currently renewable energy is contributing 12.5% of the total energy produced.
To encourage use of renewable energy sources amongst people and industries ministry has provided various subsidies and financial and fiscal benefits on opting for renewable energy. To promote and encourage more utilization of the renewable energy the Ministry wants private sectors to take some initiatives and encourage investment and offers incentives such as Capital Subsidy, Generation Based Incentive, and Accelerated Depreciation for Renewable Energy Projects.
The MNRE is implementing measures to promote and generate more renewable energy, they are in continuous process of planning new projects and supporting the development of renewable energy generation. As an addition to the current capacity renewable power generation capacity of 14, 657 MW has been added in the country during the 11th Five Year Plan period. So far 28,067 MW renewable power generation capacities have been installed.
Ministry has projected various plants in different parts of the country on all types of renewable energy resources such as solar energy, wind energy, hydro energy, bi-gas energy, biomethanation combustion, etc. Ministry has implemented many plans for the R&D of the technologies for renewable energy; institutes have been established to carry out the research and improvisation. They have organized training programmes in cities and villages to efficiently generate and utilize renewable energy.