Lockdowns slowed green energy push
- The lockdowns slowed renewable energy installations in the country and the pace of installation is lagging India’s 2022 target, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA).
- As part of its commitment to reducing greenhouse gas emissions, India has said that it would install 175 gigawatts (GW) of green energy by 2022 and 450GW by 2030.
- However, only 7 GW of such capacity was added in FY 2020/21.
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Important Highlights from Report
- India was to have installed 100 GW of solar energy capacity by March 2023 — 40 GW rooftop solar and 60 GW ground-mounted utility scale.
- The country has managed to install only 43.94 GW till July 31, 2021.
- Coal stocks hit a new record high of 1,320 lakh tonnes (Mt) at the end of FY2020/21 and exceeded the monthly averages of the previous five years.
- However, an analysis of the daily coal stock position exhibited a “deterioration” as more plants reported supplies were critical.