New Delhi In order to ensure that renewable energy capacity is expanded countrywide and does not remain concentrated in a few states, the government is considering offering incentives for the installation of floating solar panels, an official stated on Monday.
Santosh Sarangi, the New and Renewable Energy Secretary, stated at the CII Annual Business Summit that affordability, availability, and sustainability are key components of India's energy shift.
He pointed out that according to NITI Aayog's projections, we would need 1,800 GW of renewable energy by 2050 in addition to a comparable amount of battery energy storage systems (BESS), or roughly 2,000 GWh of BESS.

He stated that the best course of action going forward will be to maintain policy options flexible and create programs that will significantly advance RE (renewable energy).
He recommended decentralising renewable energy facilities, which are now limited to states like Gujarat and Rajasthan.In order to guarantee that RE deployment at the grid scale also shifts from these areas to the rest of the nation, we are considering implementing an incentive mechanism for floating solar installations in the future," he stated.
He discussed plans to implement an incentive system to encourage the production of polysilicon as well as a demand generation mechanism to support the nation's production of ingot wafers.

He acknowledged the problem of the curtailment of renewable energy and stated that it must be resolved immediately.
He underlined that the full potential of renewable assets will be unlocked by resolving curtailment issues through improved grid infrastructure and better planning procedures.
He emphasised the vital need to fortify transmission infrastructure in order to support India's growing capacity for renewable energy and stated that India will be making significant investments in green energy corridors to address the problem of grid stability that is necessary for the introduction of renewable energy.
Sarangi emphasised that in order for India to maintain its competitiveness in the global market, electricity rates must be reduced, especially as energy is now a major factor in industrial development and investment choices.

Reducing prices will require a combination of technology innovation, increased efficiencies and scaled investments across the renewable energy value chain, he said.
According to Sumant Sinha, founder, chairman, and CEO of ReNew, energy is the foundation of Viksit Bharat, and India has performed admirably in the energy transformation.
To address any energy issue, he recommended utilising renewable energy.
Ashish Khanna, Director General of the International Solar Alliance, stressed the need for increased international cooperation in creating resilient supply chains during his speech."I would suggest that the Indian private sector probably needs to tie up a lot more with some of the international private sector, because I keep hearing from the private sector of all the countries that the road for supply chain diversification will lead through India," he stated.