Global reforms are taking place in the renewable energy industry rapidly. In brief, the world is adapting green and clean energy technologies, replacing conventional and limited energy sources for conservative progress. The renewable energy sector is booming globally, and leading economies like India are switching to RE eliminating the abundant carbon emissions per year.
India ranked 3rd in the renewable energy country attractive index in 2021. – investindia.gov.in
Commercial, industrial, and transport sectors are inclining toward green energy sources and gradually increasing green energy trading. India has experienced a vast change in mixed energy over the past decades. The Renewable Energy Certificate was initially introduced by the Central Electricity Regulatory Commission to enhance the energy purchase across states utilities & concerned entities. One REC stands for 1 MWh of energy generated from renewable sources. Power exchange is the only platform through which these RECs can be traded.
Another leading energy trading platform in India, where consumers from C&I to utility can efficiently trade green energies, is the Indian energy exchange. More recently, IEX has pioneered cross-border electricity trade, expanding its power market beyond India in an endeavor to create an integrated South Asian Power Market. IEX is powered by state-of-the-art, intuitive, and customer-centric technology, enabling efficient price discovery and facilitating the ease of power procurement. The green day ahead market by IEX, which commenced in October 2021 enables three categories for trading – Solar, Non-Solar, and Hydro. In addition to IEX, two more exchanges in India trade in renewable energy and those are PXIL and Hindustan Power Exchange Ltd.
Small and large-scale renewable energy providers in India providing energy solutions are adapting advanced technologies and developing the green energy scenario of India. It is crystal clear that coal energy is ruling Indian power generation with fascinating numbers. Yet, the combined rate of renewable energies like wind, hydro, biomass, and solar energy are accounting and progressing drastically over the years, generating employment opportunities nationwide.
Power utility players in India with certified trading licenses are providing energy as well as battery energy storage systems helping India switch completely to RE. AMP Energy India is a licensed renewable energy trader & India’s first truly balanced RE company offering services to C&I customers and utilities with reliable CO2- free electricity.
India invested $11.3 billion in renewables in 2021, equivalent to the GDP of Brunei Darussalam in 2020. – Hindustan Times
The country is moving towards becoming a sustainable green energy economy, and new policies and centers for renewable energy trading are shaping its fundamental core. The succeeding generations will adapt to these non-conventional energy sources conveniently with consistent upgradation in policies. The mainstream industries are switching to green energy and owning eco-friendly power generation methods with pride, contributing to the non-conventional energy sector while reaping financial advantages.