Budget expectation
1. Policy support to grow renewable open access installation – Commercial and Industrial customers are waiting to buy GWs of renewable power, but cross-subsidy charges (CSS) are still high and the approval process is cumbersome. While MOP has put a cap on the CSS charges escalation, subsidy is needed today for the high CSS charges and a single window clearance of all approvals, especially for intra-state open access.2. Funding allocation for battery & storage technology – Storage is going to be a key to making renewable 24-hour power and driving EV adoption and India needs to invest in technology research alongside manufacturing of efficient storage technology. This needs a large budget allocation.
3. Investment in power storage infrastructure at substation levels – With 4000 MWh VGF for BESS in the 2023 budget, storage is being incentivized at the renewable power plant end. That is not sufficient alone and storage is also needed at the substation/grid end to stabilize the grid from excessive power surges during sunshine/wind hours and excessive power demand at peak hours. Dedicated tenders with VGF support for grid storage are needed.
Important for climate change reversal’
While LiFE (Lifestyle for the Environment) and Green Credit Scheme is launched, adoption is still limited. There is an urgent need to instill climate consciousness in the masses. Income tax benefits should be given to individuals who adopt sustainable lifestyles under these schemes.
-Tanya Singhal, Founder of Mynzo Carbon & SolarArise
