According to the findings of a survey, India’s open access capacity for renewable energy increased by 1.9 gigawatts (GW) to around 10GW in 2022.
As per the Institute for Energy Economics and Financial Analysis (IEEFA), this increased from only 300 megawatts in 2009, and almost two-thirds of the entire 10GW came online in the last five years. In 2009, the total capacity was only 300 megawatts. The expansion of the open access market in India is reliant on the policies that are enacted and the environment that is regulated at both the central and state levels. Energy Economist and Lead India for the IEEFA, Vibhuti Garg, stated that while there are still some obstacles to overcome, the previous year did see some significant advances in terms of regulations.
The Green OA Policy, which was released in June 2022, has the potential to totally transform the competitive environment of the renewable energy OA sector. Garg mentioned that the IEEFA anticipates the open access marketplace will continue to grow, and it is likely that it will contribute a significant amount to India’s goal of 450GW of renewable energy by the year 2030.
Increasing awareness and demand from commercial and industrial (C&I) clients were key drivers of growth. According to Jyoti Gulia, founder and CEO of JMK Research, falling prices of clean power and the decarbonization aspirations of C&I consumers have assisted in expanding the acceptance of renewable energy as a source of OA power.