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					</table><p><a href="https://www.mercomindia.com/mnre-to-residential-rooftop-solar-installations" target="_blank" rel="noopener"><strong>The Ministry of New and Renewable Energy has allocated ₹10 billion (~$119.5 million) to incentivize Urban Local Bodies</strong></a> and Panchayati Raj Institutions to actively promote and facilitate the adoption of residential rooftop solar systems under the PM Surya Ghar: Muft Bijli Yojana. The PM Surya Ghar: Muft Bijli Yojana, approved in February this year, is a comprehensive scheme designed to enhance rooftop solar capacity across India. With a total financial outlay of ₹750.21 billion (~$8.9 billion), the program targets the installation of rooftop solar systems in 10 million households by FY 2026-27. The incentive program aims to encourage local governance structures in urban and rural areas to promote the program.</p>
<p><a href="https://www.mercomindia.com/ohmium-launches-gigafactory-in-bengaluru" target="_blank" rel="noopener"><strong>Ohmium International, a provider of green hydrogen solutions, has launched a gigafactory in Doddaballapura</strong></a>, near Bengaluru. The facility, spanning 14,000 square meters, will produce 2 GW of Proton Exchange Membrane (PEM) electrolyzers annually, with plans to expand production capacity to 4 GW. Ohmium’s India subsidiary had been chosen as the preferred partner by NTPC Renewable Energy Limited to deploy Ohmium’s PEM electrolyzers in projects totaling 400 MW.</p>
<p><a href="https://www.mercomindia.com/blupine-secures-%E2%82%B94-36-billion-for-a-120-mw-solar-project-in-gujarat" target="_blank" rel="noopener"><strong>Renewable energy company BluPine Energy has secured ₹4.36 billion ($52.85 million) in financing from the State Bank of India</strong> </a>for its 120 MW solar project in Panshina and Radhanpur in Gujarat. The electricity generated from this project will be supplied to Gujarat Urja Vikas Nigam under a power purchase agreement for 25 years from the scheduled commercial operation date. The project is expected to produce around 298,000 MWh of energy annually and supply power to approximately 270,000 households.</p>
<p><a href="https://www.mercomindia.com/north-western-railway-for-2-mw-rooftop-solar" target="_blank" rel="noopener"><strong>The Bikaner Division of North Western Railway has invited bids to install 2,068 kW of grid-connected rooftop solar systems</strong></a> atop residential buildings. The contract value is ₹90.94 million (~$1.08 million). The last date to submit the bids is August 12, 2024. Bids will be opened on the same day. The selected bidder must install the systems within four months of receiving the work order. The scope of work includes supplying, installing, and commissioning the grid-connected rooftop solar systems with mono crystalline panels, inverters, MS hot-dipped galvanized structures, power conditioning units, junction boxes, AC and DC distribution boards, armored power and control cables, remote data monitoring system, and net metering.</p>
<p><strong><a href="https://www.mercomindia.com/rtc-renewable-products-must-be-redesigned" target="_blank" rel="noopener">In its Economic Survey 2023-2024 presented to the Parliament by Finance Minister Nirmala Sitaraman, the Union Government</a></strong> has said round-the-clock (RTC) renewable energy products designed for the present demand pattern may have to be revised as such projects face several deployment challenges. RTC supply aims to match the buyer’s energy demand curve through renewable energy power projects with energy storage systems. However, recent RTC projects in India have discovered higher tariffs than those for solar and wind projects without energy storage, reflecting the internalization of externalities related to intermittent power generation.</p>
<p><a href="https://www.mercomindia.com/creating-a-supportive-policy-environment-for-renewable-energy-deployment" target="_blank" rel="noopener"><strong>Facilitating the widespread adoption of renewable energy requires a coordinated effort between state and central agencies</strong></a><strong>.</strong> Equally important is establishing a policy regime that leaves no room for ambiguities for project developers, manufacturers, and end-users alike. Policies conducive to all segments of the clean energy sector is a must for India to achieve the goal of installing 500 GW of non-fossil fuel power capacity by 2030. Policy and regularity clarity at the federal and state levels are central to realizing this goal. During the session titled <strong>‘Renewable Energy Project Development–Creating an Enabling Policy Environment that Supports Renewable Deployment’</strong>, at the Mercom India Renewables Summit 2024, developers and policymakers will discuss challenges, examine potential strategies, and offer recommendations to help India achieve its renewable energy objectives.</p>
<p><a href="https://www.mercomindia.com/corporate-renewable-energy-adoption" target="_blank" rel="noopener"><strong>Corporates and industries are at the forefront of decarbonization, setting ambitious net-zero targets and striving to achieve them</strong></a> through renewable energy adoption. These efforts include investing in green technologies, aligning business strategies with climate goals, and collaborating across the value chain to minimize carbon footprints. Beyond environmental benefits, these actions enhance corporate competitiveness, resilience, and reputation. Rooftop solar and open-access solutions have become particularly attractive, providing environmentally friendly and economically viable energy options for businesses seeking to go green while reducing operating expenses. The ‘Mercom India Renewables Summit 2024,’ scheduled for July 25-26 in New Delhi, will address these critical issues. One of the key sessions, titled ‘<strong>Industrial and Commercial Units Driving Green Energy Agenda</strong>,’ will take place on July 26, 2024.</p>
<p><strong><a href="https://www.mercomindia.com/renewable-energy-growth-rate-irena" target="_blank" rel="noopener">The International Renewable Energy Agency (IRENA) has released a new report saying the world must achieve a minimum annual growth rate</a></strong> of 16.4% in renewable energy installations to triple capacity by 2030, a target set at COP28 in the UAE. IRENA Director-General Francesco La Camera stressed that while renewable energy outperforms fossil fuels, the current pace is lackingThe report reveals that if last year’s 14% increase rate continues, the world will fall 1.5 TW short of the 11.2 TW target by 2030, missing it by 13.5%. If growth reverts to the historical 10% rate, it would result in only 7.5 TW of renewable capacity by 2030, nearly one-third below the target.</p>
<p><a href="https://www.mercomindia.com/germany-adds-3-4-gw-of-2024-down-from-last-year" target="_blank" rel="noopener"><strong>Germany installed 3.4 GW of solar power capacity in the second quarter of 2024, a 10.5% year-over-year decrease</strong></a> from 3.8 GW, according to data published by the German Federal Network Agency Bundesnetzagentur. The installations for January were 1.47 GW, February (1.14 GW), and March (1.1 GW). Germany aims to install 215 GW of solar capacity by 2030, with 22 GW of capacity additions yearly. To reach the 215 GW target, the monthly installation needs to be 1,587 MW, as noted by Bundesnetzagentur at the end of Q1 2024.</p>
<p><a href="https://www.mercomindia.com/first-solar-opens-plant-for-thin-film" target="_blank" rel="noopener"><strong>U.S.-based photovoltaic module manufacturer First Solar has commissioned a new 1.3 million square feet research</strong></a> and development facility in Lake Township, Ohio. The Jim Nolan Center for Solar Innovation features a high-tech pilot manufacturing line capable of producing full-sized prototypes of thin film and tandem PV modules. The facility is expected to accelerate innovation cycles by overcoming limitations and constraints faced at the company’s previous R&amp;D setup.</p>


Daily News Wrap-Up: MNRE Allocates ₹10 Billion to Promote Rooftop Solar Systems

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