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NEWS  EDITORIAL

Renewable energy, renewed thinking

EM NEWS BUREAU ,  Thursday, December 01, 2011, 11:00 Hrs  [IST]

That India is the only country in the world to have a separate ministry for renewable energy is a matter of distinction. With this comes big responsibility, else the distinction remains only on academic record. Going by what India has achieved in this sector, one gets the impression that a sincere beginning has been made. All the same, much needs to be done to ensure that India's quest for sustainable energy also becomes a sustainable process.

Wind energy has been an area where India has shown demonstrable achievement. With nearly 15 GW of installed capacity, wind energy today accounts for over three-fourths of the country's total capacity from renewable sources. Solar is the new buzzword that is capturing the interest of, well, everything under the sun. The National Solar Mission that has set a target of 1 GW of solar power capacity by 2013 has taken off well. The excitement amongst developers and equipment suppliers, as seen in the first two rounds of bidding, is quite encouraging. Developers are even willing to offer to sell power at discounts over the government-recommended feed-in tariffs. This, by itself, epitomizes the faith that private enterprise has in India's solar power potential.

While all this appears to be smooth-going and to some extent euphoric, India now has to work towards continually fine-tuning its policy framework. Only this would sustain private sector enterprise on which the renewable energy sector is fully dependent on. The introduction of renewable purchase obligation (RPO) that mandates power purchasers to commit a minimum percentage of total power purchase from clean energy sources is only the first step. However, the government must ensure that there is strict enforcement and compliance of the RPO mechanism. Without this, the vast generation capacities that are being created can quickly become economically viable. The recent launch of Renewable Energy Certificates (REC) and their trading are proving to be a big incentive for more private enterprise in renewable energy sources.

The all-important aspect that needs to be regularly addressed is the high cost of power generation from renewable energy sources. Fuel costs are negligible, or nil in the case of solar and wind, but either capital costs are high or plant efficiencies are low. Much government support would be needed in the form of feed-in tariffs or plant performance-related incentives. Such mechanisms do exist today, but they should remain sustainable over time.

Renewable energy sources can definitely be made economically sustainable through regular monitoring, review and enforcement of policies. The ministry of new & renewable energy has a big opportunity on hand when it comes to solar and wind energy—a choice of setting a shining example or blowing away the early gains.
 
                 
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