As India is shifting towards the generation of renewable energy, adoption of robust green market is needed to ensure sustainable energy supply. Examine (200 Words)
Refer - Financial Express
Enrich the answer from other sources, if the question demands.
IAS Parliament 4 years
KEY POINTS
Need for green market
· As of 2019, India’s installed capacity renewable capacity has already met about half of its 2022 target of 175 GW.
· India, however, needs high amount of capital invested around Rs 20,00,000 crore to accomplish its commitments under the Paris Agreement.
· Globally, renewables are expected to overtake coal and become the largest source of electricity generation in 2025.
Challenges for India
· Most renewable power generation companies in India are committed to selling their power to discoms.
· Little prospect of excess generation to be offered on the exchange and the inability to schedule power supply.
· Given the seasonality and intermittency of renewable power, it is not easily susceptible to market intervention.
Measures taken
· Central Electricity Regulatory Commission approved trading of renewable energy contracts under Green Term Ahead Market on the energy exchange.
· The green market commenced trade in day-ahead contingency and intra-day contracts in both solar and non-solar segments.
· Indian Renewable Energy Development Agency, is planning to set up a dedicated Green Window to serve the unserved segments of renewable energy.
Rahul 4 years
IAS Parliament 4 years
Try to include about the challenges in green market. Keep Writing.
Priya sabalkar 4 years
Please Check. Thank You !
IAS Parliament 4 years
Try to include about the challenges in the green market. Keep Writing.
