The Government of India’s Policy initiatives have led to a tremendous growth and development of renewable energy (RE) sector in the country. The Ministry of New and Renewable Energy (MNRE), Government of India, along with all the State Nodal Agencies (SNAs) have already taken appropriate policy initiatives for achieving the target of 500 GW of renewable energy by 2030, with solar capacity of 280 GW. Government of India communicated its Intended Nationally Determined Contributions (INDCs) to the United Nations Framework Convention on Climate Change (UNFCCC) committing amongst others, mainly to reduce the emissions intensity of its GDP by 33 to 35 percent by 2030 from 2005 level. Government of India has set targets to meet 50 per cent of its energy requirements till 2030 with renewable energy, reduce India’s total projected carbon emission by 1 billion tonnes by 2030, reduce the carbon intensity of the nation’s economy by less than 45% by the end of the decade, achieve net-zero carbon emissions by 2070 and expand India’s renewable energy installed capacity to 500 GW by 2030. These initiatives at both international and national level have proved to be a major motivation for energy security and reduced dependence on conventional sources of fuel. It can be a step towards meeting the INDCs, thereby contributing towards the global effort to meet the challenges of climate change.
Pursuant to the enactment of the Electricity Act 2003, the SERCs are required to fix a minimum percentage of the total consumption of electricity in the area of a distribution licensee for purchase of energy from renewable energy sources. With the amendment of Tariff Policy in January, 2016, the Jharkhand State Electricity Regulatory Commissions (SERCs) are required to reserve a minimum percentage for purchase of solar energy which shall be such that it reaches 12.5% and Non-solar it reaches 12.5% of total consumption of energy, excluding Hydro Power, by March 2024 or as notified by from time to time, to promote renewable energy sources and to fix a minimum percentage of total consumption of the electricity of the Obligated Entities for purchase of energy from Renewable Energy Sources and to achieve long term growth trajectory of Renewable Purchase Obligation (RPO) from Solar as well as Non-Solar Energy.
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Last Updated on: 01-12-2023 22:36:42