‘Re­new­ables to help meet 40% of In­dia’s power needs by 2030’

Mint ST - - POLICY - BY GIREESH CHAN­DRA PRASAD gireesh.p@livemint.com NEW DELHI

De­spite In­dia’s en­ergy needs likely to dou­ble over the next 6-7 years go­ing by the cur­rent rate of eco­nomic growth, the na­tion will meet two-fifths of its elec­tric­ity needs with re­new­able sources by 2030, power and re­new­able en­ergy min­is­ter R.K. Singh said.

Singh said that no busi­ness op­por­tu­nity was as big as the one that re­new­able en­ergy presents and that prices of equip­ment would fur­ther come down as pro­duc­tion of so­lar cells and mod­ules ex­pand in line with the in­creased use of so­lar en­ergy.

Singh was ad­dress­ing a press con­fer­ence on the sec­ond edi­tion of a global re­new­able en­ergy in­vestors’ meet sched­uled to be held from 7-9 De­cem­ber in the Na­tional Cap­i­tal Re­gion.

“This is a mat­ter of worry for those who pro­duce coal or oil. But, this (grow­ing use of re­new­able en­ergy) can­not be stopped as it makes eco­nomic sense,” said the min­is­ter.

The ef­fi­ciency of so­lar pan­els has al­ready reached 30% and prices will come down due to in­crease in us­age, he said.

PTI con­trib­uted to this story.

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