As India moves ahead towards its net zero goals with plans to decarbonise the energy sector, accelerated renewable energy deployment assumes vital importance. However, to bring about a complete transition to clean energy, just stand-alone solar and wind power will not suffice, due to their infirm nature.
The country will need large volumes of round-the-clock (RTC) renewable energy or 24X7 clean energy, with an ideal and cost-efficient mix of various renewable energy sources, combined with energy storage. This RTC renewable power becomes more critical considering the green hydrogen deployment plans of the country, for import as well as export purposes, as green hydrogen production requires uninterrupted constant stream of green power to run the electrolysers.
On the bright side, there is a visible shift in the auction activity over the recent years with a larger number of tenders being announced for hybrids, RTC, peak power supply and firm and dispatchable renewables, rather than plain vanilla solar and wind power tenders. Case in point, there have been double the number of RTC and hybrid type auctions when compared to standalone utility-scale solar auctions in this financial year.
On the demand side, consumers, both discoms as well as industrial and commercial players, are now opting for RTC renewable energy rather than a single source renewable power. Reducing battery energy storage prices and the growth spurt in pumped storage projects, has made RTC more commercially viable, and is driving this change in consumer mindset.
Net, net, RTC renewable power is the way forward for India’s renewable energy sector.
