According to “Annual Report 2020-21” published by Ministry of New and Renewable Energy
According to “Annual Report 2020-21” published by Ministry of New and Renewable Energy, Govt of India, India has achieved tremendous milestones and well on its way to achieve the targets as determined. During the period from 2014 to 2021, the installed RE capacity has increased by two-and-half times, and in the same period, the installed solar energy capacity has increased 15 times. Globally, today India stands 4th in RE power capacity, 4th in Wind power, and 5th in Solar Power capacity. India has one of the highest rates of growth for renewable energy in the world. As per Global Trends in Renewable Energy Investment 2020 report, during the period 2014-2019, renewable energy programmes and projects in India attracted an investment of US$ 64.2 billion (Rs 4.7 lakh crore).
Special efforts taken by Government of India for the growth of Renewable Energy such as:
Round-The-Clock-Power (RTC) from RE Power Projects
Waiver of Inter-state Transmission System Charges
Roof Top Solar (RTS) Program
Green Energy Corridors
Renewable Energy Hybrid Projects
Renewable Purchase Obligations
PM KUSUM (Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan)
Greening of Islands program
Are focusing on steady growth and increase in the usage of renewable energy. This will definitely be providing tons of opportunities in the domain and looking at the trends in startup community, many startups are looking for taking of such challenges.
Following new areas are also boon to express interest and motivating factor for the startups in the domain.
- OSOWOG (One Sun One World One Grid).
- Hydrogen Energy Mission.
- Offshore Wind.
- Solar Power Development for a Carbon Neutral Ladakh.
- Waste To Energy (WTE) initiatives for recovery of Energy from Urban, Industrial and Agricultural wastes/ residues in the form of BioGas/BioCNG/Powe. This programme is also supporting the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative of Ministry of Petroleum and Natural Gas (MoPNG) for boosting production and availability of Compressed Bio-gas (CBG) as an alternative and affordable clean fuel for the transportation sector.
Looking at the on-demand increase of RE and market potential and also increase in R&D trends, Bhau Institute also decided to support and assist the startups putting efforts in the development in this domain as a major focused area. By leveraging the COEP technical engineering expertise in the domain, partnering with industry, the Bhau institute will be able to support the entrepreneurs in this sector.