India Sets Ambitious Renewable Energy Targets in Revised Energy Conservation Act
Under the new guidelines, the BEE will take responsibility for data management related to renewable energy utilization by designated consumers. This shift emphasizes an increased focus on compliance and monitoring.
October 30, 2023. By News Bureau
Under the new guidelines, the BEE will take responsibility for data management related to renewable energy utilization by designated consumers. This shift emphasizes an increased focus on compliance and monitoring.
Starting from April 2024, the focus will be on energy derived from Wind Power Projects initiated after March 31, 2024, as well as energy from Hydro Power Projects, including Pump Storage and Small Hydro Projects initiated after this date. Additionally, the Central Government may consider approving energy sourcing from international hydro renewable projects.
The notification highlights the significance of distributed renewable energy, encompassing renewable endeavors below a 10 MW capacity, including various solar installations.
To address potential annual shortfalls in renewable energy consumption, the guidelines offer a solution by allowing surplus consumption in other renewable energies to offset deficits in wind or hydro energy consumption.
Crucially, consumers, whether involved in open access or operating captive power plants, are bound by these renewable energy targets, irrespective of their existing energy sources. Failure to meet these targets will result in penalties as set forth in section 26 of the Act.
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