India Set To Become A Major Wind Export Centre

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Energy demand is an important aspect of a country’s economy. During the decade 1990–2010, India’s energy demand grew at a rapid rate of 6.4% on average, owing to the country’s strong economic expansion. As a result of this dramatic growth in energy consumption, traditional energy sources are rapidly decreasing. Renewable energy sources were looked upon to replace the same. Wind energy has enormous promise as a source of energy. The quick expansion in cumulative worldwide capacity, which reached 539 GW at the end of 2017, representing 10.7% of cumulative market growth, demonstrates this. This article further talks in detail about India and wind energy. 

Current Scenario 

Wind power generation capacity in India reached 39.2 gigawatts (GW) per year in March 2021. Over the next five years, another 20 GW was expected to be added. Between 2010 and 2020, the compound annual growth rate for wind generation was 11.39%, on the other hand, for installed capacity, it was 8.78%. Due to its cost competitiveness, mature wind energy value chain, and cutting-edge technology, India is well positioned to become an export hub. 

India still has a road to run to fully benefit from wind as a source of energy. India must prepare for the future with a per capita electricity consumption of 1,208 units in 2019-2020, which is less than half of the global average, and an expected growing power demand of 2087 TWh in 2030, up from 1207 TWh in 2019.

Future Outlook 

India promised to install 175 GW of renewable energy capacity by 2022, more than four times its original aggregate target of 20 GW, in response to a significant future spike in power demand and to promote low-carbon growth. Wind power accounts for 42% of the total installed grid-interactive renewable energy capacity (39.2 GW) as of March 2021. 

If the government sticks to its aim to generate 40% of total installed power capacity from non-fossil fuels by 2030, India might become a global wind energy exporter by 2022. India has the capacity to establish a wind export economy of more than 5 GW by 2022 if the correct legislative framework and environment are in place. India is on track to become the world’s leading wind energy production country.

Benefits Of India’s Future Wind Exports

India’s wind exporting comes along with various benefits. Wind, in combination with other technologies such as solar, comes bearing many advantages. In terms of the time of day and seasonality, wind and solar have similar generating patterns. During the day’s peak consumption hours, wind provides power. Wind production is higher during the monsoon season when solar resources are lower, and also during the months of November and December when solar resources are lower. Moreover, when opposed to solar, which is only available for 6-7 hours each day, the wind has a more regular daily generating profile. Speaking in monetary terms, the wind has reduced societal costs, such as no carbon prices, lower marginal costs for dispatch, fewer water requirements, load profile matching from the grid, and lower balancing costs than solar. Furthermore, the wind industry has a greater potential for employment generation and requires professional and semi-skilled labour throughout the project’s lifespan.

Governmental Aid

The government is likely to give the carbon neutrality goal a boost in the coming years, as it investigates new pathways such as floating solar, offshore wind, decentralized renewables, and bolder programs such as green energy storage, electric vehicles, and the National Hydrogen Mission. The government has established a number of long-term climate objectives. However, the absence of short-term milestones and a market roadmap for growing industries such as offshore wind makes it impossible to assess viability. The long-term drivers for wind in India are still strong, as the country strives for technological neutrality and low-carbon growth. Reforms in the market, such as the Draft Electricity (Amendment) Bill, Market Based Economic Dispatch (MBED), and emerging wholesale markets, point to a move toward a more efficient power market structure based on cost-competitiveness and a preference for promoting renewable energy in the electricity mix. 

Conclusion 

Wind’s position is likely to improve as green, cost-competitive, and hybrid resources are sought to fulfil India’s expanding needs as an industrial powerhouse and global economic engine. For further development, it is critical to concentrate on a specific technological system, precise measurement, local manufacturing, and logistics, all of which necessitate better policy measurement and increased government effort.

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