Report of the Expert Group on 175 GW RE By 2022
One of India’s major advantages today and going forward is that its renewable energy (RE) potential is vast and largely untapped. Recent estimates show that India’s solar potential is greater than 750 GW and its announced wind potential is 302 GW (actual could be higher than 1000 GW). India Energy Security Scenarios 2047 show a possibility of achieving a high of 410 GW of wind and 479 GW of solar PV by 2047. The potential of biomass and small hydro is also significant. Thus, renewable energy has the potential to anchor the development of India’s electricity sector. The objective of this Report is to explore financing requirements and possible business models for deployment of 40 GW of rooftop solar by 2022, and also assess the requirements and utilization of public finance for deploying and integrating 175 GW RE by 2022 – a major theme towards achieving the stated RE targets. While the report focuses on financing requirements for generation tariff parity in details, it also touches upon the finance requirements for grid expansion, grid integration, manufacturing and human resource aspects.