Union Interim Budget 2024- quotes from Neeraj Kuldeep and Gagan Sidhu | Council on Energy, Environment, and Water (CEEW) – EQ
Solar Rooftop:
Today’s Budget announcement on rooftop solar further emphasises the active role Indian citizens will play in the country’s energy transition and supporting India’s climate commitments. Analysis by the Council on Energy, Environment and Water (CEEW) suggests that 20-25 GW of rooftop solar capacity would be supported through solarisation of 1 crore households. Further, given that residential consumers receive subsidised electricity from discoms, solarisation of the demand from these households will save about INR 2 lakh crore for discoms over the next 25 years (the solar plant’s life). All states can leverage this opportunity as rooftop solar potential exists everywhere, unlike utility-scale solar, which is primarily restricted to seven RE-rich states. CEEW analysis has already established the 637 GW of technical potential in India for rooftop solar. – Neeraj Kuldeep, Senior Programme Lead, Council on Energy, Environment and Water (CEEW)
Green Push:
“The announcement of viability gap funding for offshore wind as a measure to meet India’s net-zero commitment is welcome as the sector needs some support to kick start. As per CEEW’s analysis, while 65 per cent of the USD10 trillion of investments required for India to achieve net-zero by 2070 can be mobilised from conventional sources, the balance 35 per cent will need interventions. Further, wind as a generation source is also critical for our nearer-term energy ambitions. In fact, per the CEA’s own assessment, wind capacity would have to grow 1.9x from its current 44.7 GW to 100 GW by 2030 to meet the expected increase in power demand in the country by then.” – Gagan Sidhu, Director – CEEW Centre for Energy Finance (CEEW-CEF)
