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LATEST NEWS UPDATES | 'Unrealistic' solar target -GS Mudur

'Unrealistic' solar target -GS Mudur

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published Published on Jan 19, 2018   modified Modified on Jan 19, 2018
-The Telegraph

New Delhi: The Centre's plan to install nearly a million solar-powered water pumps for irrigation in the next three years through a 30 per cent government subsidy appears fiscally unrealistic, energy researchers cautioned on Thursday and called for alternative financing strategies.

The researchers with the New Delhi-based Council on Energy Environment and Water (CEEW) have estimated that the 30 per cent subsidy on solar irrigation pumps would cost the government nearly Rs 13,500 crore, or more than double the 2017-18 central budget outlay for renewable energy.

The national solar mission launched eight years ago and accelerated by the Narendra Modi government is aimed at expanding India's use of solar power through multiple initiatives, including the large-scale deployment of solar power plants and solar pumps.

The Union ministry for new and renewable energy has said 142,000 solar pumps had been installed in the country by November 30, 2017, including 130,000 over the past three-and-a-half years. But the government wants to increase this to a million solar pumps by 2021.

"The subsidy route for large-scale expansion is challenging, given the limitations on government resources," said Abhishek Jain, senior programme lead at the CEEW. "Long-term finance could be an alternative strategy."

Jain and his colleague Shalu Agrawal, who analysed perceptions within commercial banks and non-banking financial institutions, have found limited awareness about the technology among financiers, especially among field staff, which they say contributes to reluctance to fund solar pumps.

"Without adequate information about how solar pumps yield economic returns to farmers, financiers hesitate to fund the product," said Jain, a co-author of a CEEW report on financing perspectives for solar pumps released on Thursday by Amitabh Kant, the chief executive officer of Niti Aayog.

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The Telegraph, 19 January, 2018, https://www.telegraphindia.com/india/unrealistic-solar-target-202283


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