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The Union Budget for 2024-25, presented by Finance Minister Nirmala Sitharaman, places significant emphasis on <keyword id="19941381" type="General" weightage="20" keywordseo="energy-security" source="keywords">energy security</keyword> and sustainability. As per the government, the current strategy will focus on ensuring that energy resources are readily available, making energy affordable for all citizens and keeping energy costs low to prevent economic strain on consumers. Here's a breakdown of the key initiatives announced: <h2>PM Surya Ghar Muft Bijli Yojana</h2>One of the standout initiatives is the PM Surya Ghar Muft Bijli Yojana. This program aims to install <keyword id="20366573" type="General" weightage="20" keywordseo="rooftop-solar-plants" source="keywords">rooftop solar plants</keyword> across 1 crore households, providing up to 300 units of free electricity per month. As per the FM, the scheme has already seen significant interest, with over 1.28 crore registrations and 14 lakh applications. <h2>Pumped Storage Policy</h2>To enhance electricity storage capabilities and integrate more <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> into the grid, the government will introduce a policy promoting pumped storage projects. These projects are crucial for balancing the intermittent nature of renewable energy sources like wind and solar power. <div type="Article" hostid="261" msid="111956035" title="Union Budget 2024: What FM Nirmala took from your pocket, what she gave you" mstype="2" mssubtype="0"></div> <h2>Development of <keyword id="20876045" type="General" weightage="20" keywordseo="nuclear-energy" source="keywords">Nuclear Energy</keyword></h2>Recognising the importance of nuclear energy in India's future energy mix, the government plans to invest in new nuclear technologies. The announcement also mentioned partnering with the private sector to develop and set up Bharat <keyword id="20260886" type="General" weightage="20" keywordseo="Small-Modular-Reactors" source="keywords">Small Modular Reactors</keyword>. Boasting up to a 300 MW capacity, Small Modular Reactors are mobile, flexible in design and require a smaller footprint. Unlike conventional nuclear reactors that need to be built on-site, SMRs can be factory-built. These advantages can add up to significant savings in cost and construction time. <h2>Advanced Ultra Super Critical Thermal Power Plants</h2>The Budget highlights the completion of indigenous technology development for Advanced Ultra Super Critical (AUSC) thermal power plants. These plants boast higher efficiency and will be established through a joint venture between the National Thermal Power Corporation and Bharat Heavy Electricals Limited. The initiative includes government support for fiscal needs and aims to boost local production of high-grade steel and advanced metallurgical materials. <h2>Roadmap for Hard-to-Abate Industries</h2>A significant shift is planned for industries that are difficult to decarbonise. The government will move these industries from energy efficiency targets to emission reduction targets. This transition will be regulated through the Indian Carbon Market, replacing the current 'Perform, Achieve and Trade' mode. <h2>Support for Traditional Micro and Small Industries</h2>To promote cleaner energy usage and efficiency, the government will conduct energy audits in 60 clusters of traditional micro and small industries, including brass and ceramics. Financial support will be provided to help these industries switch to cleaner energy forms and implement energy efficiency measures. This initiative will be expanded to 100 more clusters in the next phase. As per Sameer Jain, Managing Director at Primus Partners, MSMEs consume approximately 50% of the nation's power needs while generating over 75% of greenhouse gas emissions. As a result, additional support — such as climate financing — will be crucial to ensure that the MSME sector adapts well to the green revolution, especially with how the budget has committed support to MSMEs to grow and compete globally. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div> <h2><keyword id="22521154" type="General" weightage="20" keywordseo="climate-resilient-crops" source="keywords">Climate-Resilient Crops</keyword></h2>The government will release 109 high-yielding and climate-resilient varieties of 32 field and horticultural crops for cultivation by farmers. With the provision of research funding, including for the private sector, this move is part of a broader strategy to enhance agricultural productivity while adapting to climate change. <div type="Article" hostid="261" msid="111957080" title="What does Union Budget 2024-2025 have in store for farmers and the agricultural sector?" mstype="2" mssubtype="0"></div> <h2>Minerals for Green Technologies</h2>To support the growing demand for minerals used in green technologies, such as cobalt and lithium, the budget proposes exemptions from custom duties for 25 critical minerals and reduction on basic customs duty for two other essential metals. This move aims to bolster the domestic manufacturing of batteries and other components crucial for electric vehicles and renewable energy technologies. <h2>Development of Climate Taxonomy</h2>A new climate taxonomy will be developed to guide the green transition, ensuring that investments and policies are aligned with the goal of reducing carbon emissions and promoting sustainable practices. All in all, the Union Budget 2024-25 sets a promising course for India's energy and sustainability sector. With substantial investments and new initiatives, it aims to accelerate the transition to a greener future, and hopefully take us a step further towards India's net-zero emissions target by 2070.

Free solar electricity to mobile nuclear plants — major sustainability initiatives announced in Budget 2024!

<keyword id="20357709" type="General" weightage="20" keywordseo="Tata-Power-Renewable-Energy" source="keywords">Tata Power Renewable Energy</keyword> Ltd (TPREL) has joined hands with state-owned <keyword id="22457046" type="General" weightage="20" keywordseo="NHPC-Renewable" source="keywords">NHPC Renewable</keyword> Energy Ltd (NHPC-REL) for installation of rooftop <keyword id="20297569" type="General" weightage="20" keywordseo="solar-projects" source="keywords">solar projects</keyword> on government buildings of central ministries, states, and union territories. "This collaboration represents a major step forward in our shared vision of a sustainable and <keyword id="19895435" type="General" weightage="20" keywordseo="green-energy" source="keywords">green energy</keyword> future. By leveraging our combined strengths, we are confident in achieving our goal of 100 per cent solarisation by 2025," Nanda said. A Memorandum of Understanding (MOU) in this regard was signed on July 17, 2024 between Deepesh Nanda, CEO &amp; MD of TPREL, and S P Rathour, CEO of NHPC-REL, TPREL said in a statement. "This initiative will not only help us meet our solarisation targets but also contribute significantly to reducing the carbon footprint of government buildings," NHPC CMD R P Goyal said. An arm of Tata Power, TPREL is a developer of renewable energy projects including solar, wind, hybrid, round-the-clock (RTC), peak, floating solar, and storage systems including battery storage. It owns, operates, and maintains these projects. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/samsung-galaxy-m35-5g-with-6000mah-battery-launched-in-india-starting-at-16999/slidelist/111806447.cms" target="_blank">Samsung Galaxy M35 5G with 6,000mAh battery launched in India starting at ₹19,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-4-vs-realme-gt-6t-which-mid-range-phone-should-you-buy-under-35000/slidelist/111803604.cms" target="_blank">OnePlus Nord 4 vs Realme GT 6T – which mid-range phone should you buy under ₹35,000?</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-added-3-45-million-subscribers-in-may-2024-while-vi-lost-nearly-a-million/articleshow/111800758.cms" target="_blank">Reliance Jio and Airtel added 3.45 million subscribers in May 2024, while Vi lost nearly a million</a>

Tata Power Renewable Energy, NHPC Renewable join hands for installation of rooftop solar projects

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

<ul class="summary-list"><li>Sunrun, the largest home solar installer, is pushing battery storage amid a downturn in the market.</li><li>High interest rates and policy changes in California are slowing demand for residential solar.</li></ul>The residential solar company Sunrun this month hit some milestones in what's otherwise been a bleak year for the industry.The company on Tuesday said it had 1 million residential solar customers and accounted for one in five home solar systems installed across the country. On a recent earnings call, Sunrun's CEO Mary Powell also said the company was selling a record amount of battery storage. More than half of new US sales in the latest quarter included solar and battery storage — what the company calls an "attachment rate." That figure is up from 12% a year ago.Still, the company isn't immune from a major slowdown in home solar sales. The slump was enough to force a competitor, SunPower, to file for bankruptcy protection this month. SunPower cited a combination of high interest rates and a policy change in California, the country's largest solar market. The company was also highly leveraged and struggled to raise more capital after some financial-reporting errors.In June, analysts at Wood Mackenzie forecast that homeowners nationwide will install 14% less solar power in 2024 than they did in 2023, marking the first time the market has contracted in five years. Zoë Gaston, a principal analyst on Wood Mackenzie's US distributed solar team, said the drop will likely be even larger following the exits of SunPower and another top installer, Titan Solar, from the industry.Driving the downturn is a new "net-metering" policy in California, where homeowners are getting paid less for sending electricity to the grid. The analysts estimate that California's market will contract by 40% this year, following a mad dash to install solar before those changes took effect in April 2023.High interest rates aren't helping either. Most homeowners finance their solar systems with a lease or a loan from companies like Sunrun. Higher rates on those long-term leases and loans mean less money saved on monthly utility bills, making solar less appealing."The days of easy money and low interest rates provided a lot of stimulus for demand," Brett Castelli, a clean-energy equity analyst at Morningstar, told Business Insider.Those days are over, he added, so some residential solar companies are focusing less on growth and more on cash flow after operating in the red.Powell told Business Insider that Sunrun had been focusing on boosting cash and a "battery-first" strategy in order to weather the solar-market headwinds. Sunrun is aiming for $200 million to $500 million in cash flow this year; historically it's been negative.She described the residential solar market this year as "distorted" because of the massive run-up in demand last year in California. But she speculated that it would adjust and then grow by at least 10% a year."Utilities don't have a solution for the future," Powell said, adding that <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=410907af3b41471e942f363124c7df5f&amp;_e=FH1nquVkvLfNWFzU_lJs7AfiLlVuT6tp-orYYxsiQ6Xb04sHPpCAri4s2sGvXpwgMOXKHrkz6fAZ5qhwQUqAN7ecYWspQ8eNmuBVPi4-oJZGY3DZPYLGfp_hwzKHsMpGsXu9MnCW07xSaqSSgUVU_naD-_XrZyHSN8fvD6Q_1mcZWLJJRUwme9UUf_Y-ocgDMDQjL0PS58nYKkpgOc8DTxCIvKp2Dw5T7VKntAN1HNHt32_HosEXg7Z81zY4XWq8UHeBdQ1ec0YwSVruC-j92AZ5h1NoIKQPn3NoqKEsWOUvB3ZYc8xbEl9dfiz-y4OaaxwujEvrpnlRKSgqXHGuPW44VrvTVXsKxjobl5e6jkuM8J1YU7mScSkza2XJNFJi_RbD0YUfEs1lR_WZwOnPFedTl0McEaarIC8dTt5c05odhMRNYJlHdHlI5nd2JGDAS453FqLVPoj3ud0mDseK7o8iWpQhwLkofncVVUWUEZ0%3D">customers are paying more for power but reliability is getting worse</a>. "That creates a systemic demand for solar and battery storage."Powell said regulators were pushing utilities to leverage residential renewable energy to stabilize the grid during periods of high demand, while homeowners want to have backup power as outages become more frequent because of extreme weather.Powell pointed to Sunrun's pilot projects in Texas, California, and Puerto Rico, where the company is monitoring its customers' stored solar power and sending it to the grid in times of high demand. Customers get paid for the energy, while Sunrun is paid for dispatching the batteries. In Maryland, Sunrun has partnered with three owners of electric Ford F-150s who charge at home to test how EV batteries can serve as back-up power.Castelli agreed with Powell's prediction that residential solar will grow in the long term, pointing to rising utility rates, the falling costs of equipment, and the likelihood of lower interest rates. But if states follow California's lead by making it less lucrative for homeowners to send electricity to the grid, demand could slow."The bottom line is the rooftop-solar industry needs to become more efficient," Castelli said. "The US has by far the highest cost for rooftop solar in the world. Through these changes and headwinds, companies are going out of business, and that's making the industry more efficient."

Residential solar is struggling. One company's add-on is helping it hit 1 million installations.

<ul class="summary-list"><li>Chinese manufacturers are causing a global glut of solar panels.</li><li>Solar panels have become so cheap that some people are using them to line fences.</li></ul>China's manufacturers are pumping out so many solar panels that the resulting global glut has caused prices to tank.Solar panels — 80% of which are <a target="_blank" href="https://www.woodmac.com/press-releases/china-dominance-on-global-solar-supply-chain/">made in China</a> — are so cheap that they are now being used to line garden fences in Germany and the Netherlands, the <a target="_blank" href="https://www.ft.com/content/2ea6bf6d-04e9-453b-a35f-cd6431cfc7bf">Financial Times</a> reported on Tuesday.Solar panels are typically installed on rooftops, where they can capture the most sunlight — but there's so much excess supply that people in these two countries are now putting them on fences. This also saves on pricey labor and scaffolding costs required for roof installations, per the FT.Fences covered in solar panels are also starting to take off in the <a target="_blank" href="https://www.thesun.co.uk/money/23327884/privacy-fence-in-solar-panels-electricity/">UK,</a> <a target="_blank" href="https://www.pv-magazine.com/2024/01/16/solar-fences-stand-out-in-australian-market-simulation/">North America, and Australia.</a>"Why put up a fence when you can just put up a load of solar panels, even if they're not aligned exactly to the sun?" Martin Brough, the head of climate research at BNP Paribas Exane, told the FT.Solar panel supply globally is forecast to reach 1,100 gigawatts by the end of this year — three times more than demand, the International Energy Agency wrote in a <a target="_blank" href="https://iea.blob.core.windows.net/assets/96d66a8b-d502-476b-ba94-54ffda84cf72/Renewables_2023.pdf">report released in January.</a>Prices on the spot market have already fallen by half in 2023 and are likely to extend decline by another 40% by 2028, the agency added.China's hold on the solar panel market is now in a state of oversupply, which means manufacturers elsewhere — such as the US and Europe — are unable to compete effectively.The oversupply of cheap Chinese solar panels is on US <a target="_blank" href="https://home.treasury.gov/news/press-releases/jy2218">Treasury Secretary Janet Yellen's</a> radar as she heads to China on Wednesday for meetings with top Chinese officials. The visit, slated to end Tuesday, is her second trip to China in the past 12 months."During her engagements in China, Secretary Yellen will advocate for American workers and businesses to ensure they are treated fairly, including by pressing Chinese counterparts on unfair trade practices and underscoring the global economic consequences of Chinese industrial overcapacity," the Treasury said in a press release on Tuesday announcing Yellen's visit.Last week, <a target="_blank" href="https://home.treasury.gov/news/press-releases/jy2214">Yellen said</a> at a Suniva solar cell plant in Georgia that she was "concerned about global spillovers from the excess capacity that we are seeing in China" that have now hit new energy industries like solar, electric vehicles, and lithium-ion batteries.Beijing is championing what it calls the <a target="_blank" rel=" nofollow" href="https://www.gov.cn/yaowen/liebiao/202308/content_6897581.htm">"new three" industries</a> of solar, electric vehicles, and lithium-ion batteries to drive its economy. China is struggling to pivot from its reliance on the real-estate industry, which is now mired in a <a target="_blank" href="https://www.businessinsider.com/evergrande-ordered-liquidate-china-real-estate-property-crisis-winners-assets-2024-1">debt crisis.</a>"China's overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world," Yellen said, adding that she will raise the issue of overcapacity in her next trip to China."I will convey my belief that excess capacity poses risks not only to American workers and firms and to the global economy, but also to productivity and growth in the Chinese economy," Yellen added.Chinese manufacturers are feeling the heat from solar panel overcapacity, too.Last month, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-19/longi-layoffs-speed-shift-in-solar-production-away-from-china">Longi Green Energy Technology,</a> the world's largest solar cell manufacturer, announced it was laying off thousands of workers amid overcapacity and low prices.

China has flooded the market with so many solar panels that people are using them as garden fencing

<ul class="summary-list"><li>A new terminal at New York's JFK will be partly powered by a microgrid, batteries, and fuel cells.</li><li>AlphaStruxure, the project developer, said that would produce 38% less greenhouse-gas emissions. </li></ul>A massive transformation of New York City's largest airport is underway, and developers are touting its sustainability credentials. John F. Kennedy International Airport's $9.5 billion New Terminal One will be partly powered by a microgrid with 11.34 megawatts of electricity from rooftop solar, gas fuel cells, and battery storage. A system that captures waste heat from the fuel cells will chill and warm water.AlphaStruxure, a joint venture of the private equity firm Carlyle Group and France's Schneider Electric, announced Thursday that it would construct and operate the energy project after winning a contract from the Port Authority of New York and New Jersey, which operates the airport, and <a href="https://www.anewjfk.com/projects/the-new-terminal-one/" target="_blank" rel="noopener">the New Terminal One consortium</a>, a privately financed group of labor, operating, and financial partners."Solving our energy challenge really comes down to three things: electrifying, digitizing, and decarbonizing by getting more electricity from renewable sources. Microgrids are key to achieving all of this," Annette Clayton, the CEO of Schneider Electric North America, said during a press briefing.The rooftop solar array — made up of more than 13,000 panels — will be the largest in New York City and at any US airport terminal, AlphaStruxure said.<div type="image" title="Rendering of a microgrid equipment at JFK airport" height="2000" width="2666" msid="97358544" hostid="261"></div>The microgrid is expected to generate about what 3,570 average US homes would use in a year. Each "power island," with fuel cells and battery storage, will be digitized and automated. The islands can operate independently, though they'll be interconnected as one system. Three are set to be completed by 2026, with the final power island coming online by 2029, AlphaStruxure said.The microgrid will allow New Terminal One to operate independently of the city's power grid — maybe indefinitely — in case of an emergency like extreme weather, Juan Macias, the CEO of AlphaStruxure, said. The system will also produce 38% less greenhouse-gas emissions compared with sourcing all electricity from the grid, according to AlphaStruxure. Installing fuel cells, instead of diesel generators, is estimated to reduce emissions of nitrogen oxide, a toxic air pollutant, by 98%, Macias added. The fuel cells will use natural gas from the power grid but are designed to accommodate greener fuels as those are commercialized, such as hydrogen made from renewable energy. The terminal will feature large, naturally lit public spaces and amenities designed to enhance travelers' experiences, <a href="https://www.anewjfk.com/projects/the-new-terminal-one/#1597669533779-ff1ad7fc-2093" target="_blank" rel="noopener">according to the New Terminal One consortium</a>.Construction began in September. The first of 23 gates are expected to open in 2026, and the work is set to be completed by 2030.<div type="image" title="rendering of New Terminal One at JFK airport" height="1080" width="1440" msid="97358547" hostid="261"></div>

JFK airport's new terminal will be powered by a microgrid and the largest rooftop solar array in New York City

<ul><li>As a part of the tie-up, MSMEs who are <keyword id="45008" type="General" weightage="100" keywordseo="tata-power" source="Orion">Tata Power</keyword> customers can avail loans up to ₹8 crore, with nil or minimum collateral. </li><li>The scheme requires a minimum down payment of only 15-20% of project cost, says <keyword id="51925" type="General" weightage="80" keywordseo="union-bank" source="Orion">Union Bank</keyword>. </li><li>This tie-up is a part of <keyword id="72269" type="General" weightage="50" keywordseo="ubi" source="Orion">UBI</keyword>’s solar scheme called <keyword id="15535191" type="General" weightage="50" keywordseo="union-solar" source="Orion">Union Solar</keyword>.</li></ul>Indian public sector bank <keyword id="63524" type="General" weightage="50" keywordseo="union-bank-of-india" source="Orion">Union Bank of India</keyword> has tied up with <keyword id="12146018" type="General" weightage="50" keywordseo="tata-power-solar" source="Orion">Tata Power Solar</keyword> Systems, a subsidiary of Tata Power Renewable Energy, to help the micro, small and medium enterprises (MSME) set up rooftop mounted solar units through a term loan. MSME industries who are Tata Power customers can avail loans up to ₹8 crore with nil or minimum collateral. The objective of this collaboration is to improve access to green energy, and help MSMEs save on electricity costs. “The scheme also requires a minimum down payment of only 15-20% of project cost thus making it very attractive for MSMEs,” informs Union Bank. This is a part of the bank’s solar scheme called 'Union Solar' which was launched at a pan-India level, to relieve the MSMEs from the stress of higher power costs and grid exigencies. “We are happy to associate with Tata Power in our efforts to help small businesses improve their access to green energy through the solar solution that is reliable, affordable and self-paying in the long run. We expect to see an impressive growth in the use of solar power in the MSME sector that will also make them more competitive in the domestic and international markets,” C M Minocha, chief general manager, Union Bank of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> said. MSMEs can avail the dual services of Solar EPC by Tata Power Solar, financed through term loan facility by Union Bank of India. "In the last few years, the Indian MSME industry is experiencing a behavioural shift towards green energy solutions. We are committed to make TPREL a one-stop solution for the solar rooftop industry,” said <keyword id="14983947" type="General" weightage="50" keywordseo="shivram-bikkina" source="Orion">Shivram Bikkina</keyword>, chief- rooftop, Tata Power Renewable Energy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-shares-tank-over-9-as-4-5-of-its-equity-changes-hands/articleshow/95574534.cms">Paytm shares tank over 9% as 4.5% of its equity changes hands</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pakistans-default-risk-soars-amid-political-turmoil-says-a-dawn-news-report/articleshow/95574205.cms">Pakistan's default risk soars amid political turmoil says a Dawn news report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mumbai-based-ev-startup-launched-a-two-seater-electric-car-with-no-front-passenger-seat/slidelist/95572118.cms">Mumbai-based EV startup launched a two-seater electric car with no front passenger seat</a>

Union Bank, Tata Power Renewable join hands to help MSMEs switch to solar

<ul class="summary-list"><li><keyword id="10247917" type="UNKNOWN" weightage="60" keywordseo="powerhome-solar">Powerhome Solar</keyword>, among the nation's fastest-growing <keyword id="6357014" type="ORGANIZATION" weightage="100" keywordseo="energy">energy</keyword> companies, <a href="https://www.businessinsider.com/powerhome-solar-faces-claims-sloppy-installs-misleading-customers-renewable-energy-2020-11">is facing complaints of botched installations and unresponsive customer service.</a> </li><li>The claims, made by 11 customers who spoke with Business Insider, follow our <a href="https://www.businessinsider.com/powerhome-solar-misleads-customers-insiders-leaked-memos-suggest-2020-10">previous investigation</a> into Powerhome's sales practices.</li></ul>Powerhome <keyword id="45681" type="TECHNOLOGY" weightage="60" keywordseo="Solar">Solar</keyword>, which is among the nation's fastest-growing energy firms, is <a href="https://www.businessinsider.com/powerhome-solar-faces-claims-sloppy-installs-misleading-customers-renewable-energy-2020-11">facing complaints from customers</a> about performing sloppy installations and providing poor customer service that's left some of them stuck with expensive panels that they say don't work.The allegations, made by <a href="https://www.businessinsider.com/powerhome-solar-faces-claims-sloppy-installs-misleading-customers-renewable-energy-2020-11">11 customers who spoke with Business Insider</a>, follow our <a href="https://www.businessinsider.com/powerhome-solar-misleads-customers-insiders-leaked-memos-suggest-2020-10">previous investigation</a> into Powerhome. That story reported that the company <a href="https://www.businessinsider.com/powerhome-solar-misleads-customers-insiders-leaked-memos-suggest-2020-10">appears to use misleading sales tactics to sell high-priced rooftop solar panels</a> and was based on a review of legal records, interviews with a dozen current and former employees, and internal memos.Read more: <a href="https://www.businessinsider.com/powerhome-solar-misleads-customers-insiders-leaked-memos-suggest-2020-10">Fast-growing energy firm Powerhome Solar uses misleading tactics to lure customers into home solar deals that cost more than a car, insiders, legal claims, and leaked memos suggest</a>Customers we spoke with for this story say they experienced problems with Powerhome Solar that extend beyond the company's sales practices.One customer said he thinks that a shoddy installation job was likely what sparked a fire that burned down his home. (The cause of the fire was undetermined, according to a county fire report.) Five customers said their panels didn't work at all for some period of time. Others said they saw careless and unprofessional behavior by the company's crews during installations, including catcalling, drinking, and damaging property.A former Powerhome installer who worked in Missouri told Business Insider that installation jobs were rushed, often at the expense of quality. The former employee requested anonymity for fear of retaliation. We have verified his identity.Headquartered in Mooresville, North Carolina, Powerhome sells solar panels, roofs, and other energy-efficiency products. Its solar installations have roughly doubled every year since 2015, according to the research firm Wood Mackenzie, and it was one of just two energy firms on Inc.'s <a href="https://www.inc.com/inc5000/2019">list of fastest-growing private companies</a> last year.Business Insider sent Powerhome an email detailing the specific claims made by customers in this article. Powerhome did not respond to them."POWERHOME SOLAR has more than 30,000 satisfied customers and 1,600 employees in 10 states and continues to grow," a company representative said in a statement. <h3><a href="https://www.businessinsider.com/powerhome-solar-faces-claims-sloppy-installs-misleading-customers-renewable-energy-2020-11">The full story is available here exclusively for Business Insider subscribers.</a></h3>

A top rooftop solar company is facing complaints from customers about botched installations, broken panels, and unhelpful reps

<ul><li>A report from Deloitte and Climate Investment Funds states that lack of low-cost financing is a major hurdle in <keyword id="6393272" type="UNKNOWN" weightage="20" keywordseo="MSMEs">MSMEs</keyword> adding rooftop <keyword id="70990" type="ORGANIZATION" weightage="20" keywordseo="Solar-power">solar power</keyword> projects. </li><li>In India, the <keyword id="3141044" type="PERSON" weightage="20" keywordseo="rooftop-solar-capacity">rooftop solar capacity</keyword> stood at 3.3GW in September 2018 while it aims to have 40 GW by 2022. </li></ul>India has set high targets for itself – to achieve 40 GW of rooftop solar capacity by 2022 and 100 GW of solar power by the same year. The Indian MSME sector could be instrumental in achieving this target but there are multiple challenges that the government needs to address first, according to a report by Deloitte and Climate Investment Funds (CIF). The report states that involving MSMEs “requires addressing issues related to lack of low-cost financing, inadequate level of awareness, and lack of rooftop aggregation models”. India still has a long way to go in achieving its rooftop solar capacity target. According to a <a href="https://bridgetoindia.com/report/india-solar-rooftop-market-i-january-2019/">report </a>by Bridge to India, the rooftop solar capacity stood at 3.3 GW by September 2018. The report further predicts that the total capacity addition will be 18.8 GW in the next five years, which still doesn’t meet India’s target. Rooftop solar is important because it can be used for residential and commercial properties, making way for local utilization. So far, India’s rooftop solar projects have been mainly run by corporates but in order to scale up the capacity, MSMEs will have to be involved in the process. <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">Funding</keyword> will be key for growing rooftop solar capacity for MSMEs. According to a report by Climate Policy Initiative, MSMEs, “do not have high enough credit ratings to access finance under the two prevailing rooftop solar business models, the Capital Expenditure model and the Power Purchase Agreement model.” So for them to step up in the solar race, the government needs to intervene. The Deloitte report also suggested that the government needs to create a dedicated scheme “such as interest subvention and the Partial Risk Guarantee Fund mechanism”, with a proper budget allocation that can be the fuel for pilot projects in MSMEs. See Also: <a href="https://www.businessinsider.in/interim-budget-2019-the-state-of-indias-solar-power-is-a-matter-of-concern/articleshow/67622437.cms">India’s solar power producers are awaiting a ray of hope</a> <a href="https://www.businessinsider.in/iredas-ipo-is-likely-to-be-delayed-again/articleshow/67888133.cms">India's Renewable Energy Development Agency IPO may be delayed again</a>

India will not meet its rooftop solar power target if it doesn’t help MSMEs

<keyword id="45008" type="General" weightage="80" keywordseo="tata-power" source="Orion">Tata Power</keyword> CEO and MD Praveer <keyword id="6358012" type="General" weightage="80" keywordseo="sinha" source="Orion">Sinha</keyword> announced a Rs 6,000 crore capital investment by the company in <keyword id="6357961" type="General" weightage="100" keywordseo="odisha" source="Orion">Odisha</keyword>. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next five years. Sinha said the company will also set up 1,000 electric vehicle (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop and floating <keyword id="6453229" type="General" weightage="20" keywordseo="solar-plants" source="Orion">solar plants</keyword> in the next five years. He welcomed the Odisha government's Renewable Energy Policy 2022 unveiled at the Make In Odisha Conclave here. The Tata Power CEO said the company has been engaged in power distribution across Odisha and is committed to ensure ease-of-doing business through quality power supply. "Tata Power is committed to ensure 'Udyog Ru Pragati' (progress through entrepreneurship) by offering high-quality and affordable power supply to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralised generation, agriculture, and demand side management will further ensure an all-round sustainable development of the state," Sinha said. He said Tata Power is also working with Bhubaneswar Smart City Limited (BSCL) in deploying charging infrastructure at multi-level car parking lots and public utilities like hospitals, universities, malls, and at important city hubs. The company is also in early stages to explore the development of green hydrogen hubs in the Paradeep region to meet industrial demands, he said, adding that Tata Power is also working towards the solarization of the agriculture sector in association with the state government. The company has already installed over 700 solar pumps in addition to 1,200 dual pump for community drinking application across the state. It has planned to install 30,000 solar pumps over the next five years, he said. Welcoming the state's new Renewable Energy Policy 2022, Sinha said the incentives provisions like electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, state transmission utility charge waiver are very encouraging. He said Tata Power is working towards the electrification of remote villages by setting up microgrids. A technical feasibility study has been carried out in several villages in the Mayurbhanj District to set up microgrids for transformation of the rural/ tribal economy.

Tata Power to invest Rs 6,000 crore in 5 years Odisha towards EV charging, microgrids and more

New Delhi, Mar 19 () Tata Power on Thursday said it has expanded its rooftop solar service to 90 cities across the country. The big rollout from Tata Power comes at a time when consumers across all major categories including commercial, industrial, residential and public sector are adopting solar energy as a reliable and sustainable solution to meet their energy needs that also holds tremendous potential to save costs. "Preparing for a future-ready India, Tata Power is making a big push for a stronger adoption of clean energy by expanding its rooftop solar offerings to 90 cities," the power major said in a filing to BSE. Tata Power launched customisable rooftop solar solutions on a pan-India basis in September 2018, as pee the company. Shares of the firm were trading 4.97 per cent lower at Rs 33.45 apiece on the BSE. SID SID ANSANS

Tata Power expands rooftop solar service to 90 cities across India

New Delhi, Mar 17 () The country's rooftop solar energy capacity stands at 1,922 mega watt (MW) and so far over Rs 1,874 crore has been released as central financial assistance towards installation of capacities in the sector, Parliament was informed on Tuesday. Till March 13, 2020, rooftop solar power plants of an aggregate capacity of 1,922 MW have been installed in the country, of which 346 MW have been installed in the residential sector, Minister of New and Renewable Energy R K Singh said in the Rajya Sabha, citing ministry data. He further said "so far as on 12.03.2020, an amount of approximately Rs 1874.39 crore has been released to various implementing agencies, i.e; state nodal agencies, Solar Energy Corporation of India (SECI) Limited, power distributing companies (DISCOMs), PSUs (public sector undertakings), government departments etc. under the rooftop solar programme as central financial assistance (CFA)/incentives inclusive of CFA towards residential sector." To increase installation of residential solar rooftop systems, he said government is taking various measures, including incentives for the DISCOMs for achievement of additional capacity, assisting states in development of online portal and aggregation of demand related to rooftop solar projects. The government is also providing CFA of 20 per cent of benchmark cost or tender cost, whichever is lower, for group housing societies/resident welfare associations for supply of power for common facilities under the phase II of Grid Connected Rooftop (GCRT) solar programme, he said, adding there is a toll free number -- 18001803333 -- for creating awareness among public about the programme. ABI ABI ABMABM

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