International Solar Alliance will continue to expand its footprint, Pg23

Key Highlights:

• Santosh Kumar Sarangi, Secretary of MNRE, affirmed the International Solar Alliance (ISA) will thrive despite the US withdrawal.
• Data centers are projected to demand 12 GW by 2030, according to the CEA, which may be met through a mix of conventional and renewable energy.
• The Emission Trading System (ETS) is being implemented in India, adding more sectors to the mechanism to promote decarbonization.
• SECI discovered a tariff of Rs 3.12 per unit for solar power bundled with six hours of storage.

Detailed Insights:

• The ISA aims to increase its presence in areas with limited solar deployment, particularly in Africa, ensuring strong engagement with the Middle East.
• Industries are exploring various decarbonization pathways, such as using electric arc furnaces, green hydrogen, and sourcing more renewable energy.
• The Ministry of Power has introduced a VGF scheme to tender out 43 GW for rapid deployment of battery energy storage in India.
• Round-the-clock (RTC) power is now feasible through a combination of solar, wind, and battery energy storage systems, making it cheaper than coal-based generation.
• Pumped storage projects (PSPs) are gaining popularity, utilizing surplus solar power to pump water to upper reservoirs and generate electricity during peak hours.

Key Concepts Involved:

• International Solar Alliance (ISA): An alliance of solar-resource-rich countries to address their special energy needs and provide a platform to collaborate.
• Decarbonization: The process of reducing carbon emissions, particularly from energy production and industrial processes.
• Emission Trading System (ETS): A market-based approach to controlling pollution by providing economic incentives for reducing emissions.