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RENEWABLES / CLIMATE CHANGE TRENDS
 
Vol. VIII Issue. 51
India Inc wants policy support to bet on wind, solar energy

05 June 2012

June 5, 2012. India's green energy initiatives, which aim to boost solar power capacity to 20,000 MW in a decade, and expand windmills, have made rapid progress but entrepreneurs want supportive policies to sustain growth. India aims to meet 15% of its power needs, or 80,000 MW, from renewable sources by 2020, with an investment of ' 1.5 lakh crore. This has boosted investment in the sector by 54% in just one year, and solar power capacity has leaped to 905 megawatts from a negligible 8 MW three years ago, making India one of the top 10 global destinations for investments. Even as it had barely risen, the Indian solar-equipment sector has been eclipsed. S Venkataramani, who heads a grouping of 22 companies that account for 80% of India's solar- equipment capacity, counts the damages for those who make photovoltaic (PV) cells- the lifeline of a solar panel. Sometime in 2009, as countries took to solar power in bigger way, China provided an external charge to its solar-equipment industry. Solar power rates have plunged to ' 7.49 per unit. But several concerns lurk behind the phenomenal growth. Solar firms want anti-dumping duties, saying that foreign frims are selling equipment at ridiculously low prices. Wind energy has also expanded, making India one of the world leaders in the sector. The sector is craving for the accelerated depreciation scheme, that was terminated in March, but optimism remains.

      
 
 
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