Banking restrictions on renewable energy projects in India
New restrictions on banking of power will inhibit the growth of the rooftop and open-access solar market, and potentially slow progress towards India’s national target of 450 gigawatts (GW) of installed renewable capacity by 2030, according to a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research. Banking allows renewable energy generators to deposit surplus power into the grid and withdraw it later when needed – much like putting money into a savings account at a bank.
