EY India's Recommendations for Energy Transition in India's Budget
Key Ideas
  • EY India suggests prioritizing roof-top solarisation and giving attention to green hydrogen and BESS initiatives.
  • The budget could focus on ensuring stable and predictable solar and wind tariffs while incentivizing hybrid power projects.
  • Simplifying norms to encourage investment in renewable energy projects and expanding the scope of ALMM and PLI are also recommended.
  • Incentivizing biofuels is seen as a way to enhance India's energy security.
As India gears up for its upcoming Union Budget, the energy sector is poised to be a key focus area. EY India has put forth a set of recommendations aimed at accelerating the country's energy transition. Key suggestions include giving priority to roof-top solarisation, directing attention towards green hydrogen, Battery Energy Storage Systems (BESS), and other crucial initiatives. The budget is urged to ensure stability and predictability in solar and wind tariffs, along with offering incentives for hybrid power projects to spur growth in this sector. Furthermore, EY India proposes simplifying norms to make it more attractive for investors to participate in renewable energy projects. Expanding the scope of Accelerated Loss Making Companies (ALMM) and Production Linked Incentive (PLI) schemes could further boost investments in the sector. Additionally, the recommendations highlight the importance of incentivizing biofuels to enhance India's energy security. With the energy transition becoming increasingly vital for sustainable development, EY India's suggestions aim to foster a conducive environment for renewable energy growth in India. The upcoming Union Budget is expected to play a pivotal role in shaping the energy landscape of the country.
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