Round-the-clock renewable energy can cost Rs 6 per unit if green hydrogen used: RK Singh

Renewable energy in India: If green hydrogen is used for storage, round-the-clock renewable energy will be available at a cost of around Rs 6 per unit, according to RK Singh, the Union Minister for Power and New and Renewable Energy. Singh, who was speaking at the fourth International Conference & Exhibition on Clean Energy, added that green hydrogen would become a viable alternative for energy storage, further stating that India would have the cheapest green hydrogen. 

“Green hydrogen is cheaper than gas and battery energy storage systems. We have come up with a pilot bid for about 100 MW which we hope will establish the benchmark. Once we are able to use green hydrogen for our energy requirements, all supply chain issues such as availability of lithium-ion batteries will be resolved. We will make green hydrogen and use it as storage,” he said, adding that recently, the average price of power in the energy exchange has been Rs 8 per unit. Thus, if India is able to bring down the cost of round-the-clock renewable energy to Rs 6 per unit, India would be in business, he asserted, further stating that the future is renewables, and it is not far away. 

He also shared that deliberations are on within the government around allowing the industry to get carbon credits for green hydrogen as well as green ammonia, which India exports, while saying that the basic legal framework regarding the carbon market has also been formulated. 

The renewable energy industry in India consists of players that are capable of competing anywhere, Singh said, while also highlighting the government’s initiatives to lend support to the sector’s growth. “We have been leading with policy papers, rules and regulations, opening new doors. We came with Green Open Access Rules…I have written to all industry captains to switch over from thermal to renewables, this shift will also bring down the price of energy," he said. 

He also shared that energy demand in the country will continue to grow at a rapid pace considering the quick pace of economic growth. “We need energy demand as fast as possible to meet this demand. We will make the electricity required for our growth. If our price for round-the-clock renewable energy is anything to go by, then we will not have to go the thermal way, we will adopt the renewable path. About 42 per cent of our capacity is from renewable sources already,” he said, adding that the country is becoming a manufacturing powerhouse of renewable energy. 
“Around 88,000 MW renewable energy capacity is under construction and our plan is to add 50,000 MW of renewable energy capacity every year. We are already emerging as an exporter,” he said.