Wind Energy Current Affairs - 2019
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The Government of India is planning to integrate largest lenders to the power sector in order to help clean energy firms clear their dues. It includes Rural Electrification Corporation (REC), Power Finance Corporation (PFC) and Indian Renewable Energy Development Agency (IREDA). The integration will help resolve growing crisis in the clean energy sector and also aid India achieve its ambitious targets in renewable energy.
The discoms are delaying their payments to the generators. This creates difficulties to the banking sector whose repayment is delayed. Eventually further loan processes get delayed. This creates a vicious cycle where the expansion of clean energy sector gets affected ultimately. The current issue hinders India from achieving an ambitious target of 175 GW of renewable energy by 2022.
Measures to increase Solar Energy
Recently GoI launched several steps to achieve the target of 100 GW of solar energy by December 2022. It includes waiver of Inter State Transmission System charges and losses for projects that are commissioned up to December 2022. The Union Government also permitted 100% FDI in the solar energy sector. Apart from these various schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan Yojana (PM-KUSUM) and Solar Roof Top programme were launched.
Measures to increase Wind Energy
In 2016, the Government issued Guidelines for Development of Onshore Wind Power Projects. It included site feasibility, online registry, real time monitoring, compliance of grid regulations and decommissioning plan. In 2017, the Guidelines for tariff based competitive bidding process for wind power projects were issued. Apart from these, the government is also promoting Generation Based Incentives for wind projects.
Tags: Foreign Direct Investment (FDI) • IREDA • KUSUM Scheme • Power Finance Corporation • Renewable Energy
The Global Energy & CO2 Status Report released by the International Energy Agency (IEA) makes the following observations:
- China, the US and India together accounted for nearly 70 per cent of the rise in energy demand and energy demand worldwide grew by 2.3 per cent last year.
- The rise in energy demand was driven by a robust global economy and stronger heating and cooling needs in some regions.
- Natural gas was the fuel of choice and it witnessed the biggest gains accounting for 45 per cent of the rise in energy consumption. Gas demand growth was especially strong in the US and China.
- Demand for all fuels increased and nearly 70 per cent of the demand growth was met through fossil fuels.
- Solar and wind generation witnessed a double-digit pace, with solar alone increasing by 31 per cent. But this was not fast enough to meet higher electricity demand around the world which resulted in increased use of coal.
- Global energy-related carbon dioxide emissions increased by 1.7 per cent to 33 gigatonnes (Gt) in 2018.
- Coal use in power generation surpassed 10 Gt and accounted for a third of the total increase.
- Majority of coal-fired generation capacity was concentrated in Asia, with 12-year-old plants on average, decades short of average lifetimes of around 50 years.
- Electricity continued to position itself as a fuel of the future, with global electricity demand growing by four per cent in 2018 to more than 23,000 terawatt hours.
- China remains the leader in renewables, both for wind and solar, followed by Europe and the US.
- Energy intensity improved by 1.3 per cent last year which was half the rate witnessed in the period between 2014 and 2016. This third consecutive year of the slowdown was the result of weaker energy efficiency policy implementation and strong demand growth in more energy intensive economies.
The findings are part of the IEA’s assessment of global energy consumption and energy-related carbon dioxide (CO2) emissions for 2018. The report provides a high-level and up-to-date view of energy markets, including the latest available data for oil, natural gas, coal, wind, solar, nuclear power, electricity and energy efficiency.