The Ministry of New and Renewable Energy (MNRE) has issued the operational guidelines to implement the PM Surya Ghar: Muft Bijli Yojana for the component “Central Financial Assistance (CFA) to residential consumers”. These guidelines pertain to implementing CFA to residential consumers under the capex mode for eligible consumer categories only. The guidelines for other components of the program will be issued separately.

Solar Energy Corporation of India (SECI) has invited bids to commission 1,385 kW of grid-connected solar power projects with 394 kW/1117 kWh of battery energy storage systems in Lakshadweep under RESCO mode. The projects will be set up across Amini, Androth, Bitra, and Kadmat islands. The projects must be commissioned within 24 months of signing the power purchase agreement.

Renewable energy developer Serentica Renewables has invited expressions of interest (EoI) to set up interstate transmission system-connected Battery Energy Storage Systems (BESS) to supply 800 MWh of battery capacity to Serentica’s round-the-clock projects. The company said it is seeking technical partners to supply BESS capable of delivering reliable energy storage. It is executing 4 GW of projects and will deliver 2 GW per year of round-the-clock capacity to some large industrial customers in India.

Indian Telephone Industries (ITI), a government of India undertaking, has floated a tender to empanel agencies to implement grid-connected rooftop solar power systems of a cumulative capacity of 200 MW on government buildings in Bihar. The scope of the work includes design, supply, erection, testing, commissioning, warranty, and comprehensive operation and maintenance for five years. The last date for submitting bids is June 16, 2024. Bids will be opened the same day.

The European Commission has announced it will impose additional tariffs of up to 38.1% on Chinese Battery Electric Vehicles (BEV) from July on grounds that they were causing economic injury to European Union producers. As part of its ongoing investigation, the Commission has provisionally concluded that the Chinese BEV value chain benefited from unfair subsidization. It has reached out to Chinese authorities to discuss these findings and explore possible ways to resolve the issues identified in a manner compatible with World Trade Organization rules.

A report by Lazard, an asset management and financial advisory company, found that the low ends of the Levelized Cost of Energy (LCOE) for renewable energy technologies in the U.S. have increased for the first time, driven by persistent cost pressures such as high interest rates. Despite declines in the high-end LCOE for selected renewable energy technologies, the overall LCOE ranges have tightened, resulting in relatively stable LCOE averages year-over-year. This trend highlights the advantage of well-capitalized companies in building new renewable energy assets​.