Govt to come up with PLI for grid-level energy storage – EQ Mag Pro
The bid for 1,000 MW storage project invited by the government earlier has been finalized
NEW DELHI : Centre will soon launch a production linked incentive (PLI) scheme for grid-level renewable energy storage, said union power minister R.K. Singh said on Wednesday.
Grid-level energy storage refers to a large-scale energy storage.
Speaking at an event organized by US-India Business Council, the minister also informed that the bid for 1,000 MW storage project invited by the government earlier has been finalized. Noting that the bids received by the government were expensive, he said that increasing the volumes of storage would lower the prices.
“The only way to bring down the cost of storage is to start manufacturing here and to add volume and that’s what I am going to do. The bid…PLI, which I will come up with will be only be for grid level storage,” he said.
Singh, further said that lithium ion batteries would not be preferred for the grid level storage and other chemistries would be looked into.
In the renewable energy space, government has earlier come up with PLIs for solar PV modules and advanced chemistry cells.
Singh, who is the also the minister for new and renewable energy, said that the government will come up with bids for green hydrogen and green ammonia. On the offshore wind bids, he said that tenders would be out in the next two-three weeks.
The stress on renewable energy sources for power have gained momentum after the government committed to achieve 500 GW of installed renewable energy capacity by 2030.
The minister on Wednesday exuded confidence that India would achieve the target of 50% energy from non-fossil sources well before the 2030 target and may go on to achieve 65% non-fossil energy by 2030. India has a capacity of 168 GW capacity from non-fossil fuel sources, he added.
“We will achieve 50% well before 2030.”
He also said that India’s per capita emissions are among the lowest in the world.
“If you look at the total carbon load which accounts for global warming, our contribution to the total CO2 load till date is just 3.4 per cent and our population is 17.7 per cent. Despite all this we decided that our environment is important and set ourselves huge targets. We committed accordingly in COP21 in Paris, that in 2030, 40% of our capacity will come from non-fossil fuels and I am happy to tell you that today we have reached 41.5 per cent of that 9 years in advance.”
Another target for the government is to to reduce the emission intensity of our economy by 33-35% by 2030, Singh said.
“I am happy to inform you that today we have reduced the emission intensity of our economy by 30% already. We will remain the fastest growing market for renewables in the world,” Singh said.
On the green hydrogen space, Singh said that the government committed to make India largest green hydrogen hub in the world. He also said that cost of green hydrogen production are competitive in India even without a PLI scheme.
Inviting American businesses to invest in the Indian renewable energy space, he said: “If you are not here you are missing something.”
Addressing event through a video message, Jennifer Granholm, Secretary, U.S. Department of Energy stressed on the need for greater India-US partnership in energy transition.
India and the US can lead the world in the transition towards renewable energy sources, she said.
Source: livemint
