Power Generation at Reduced Cost in Coming Years

The cost of power generation from new and renewable energy sources is expected to further reduce in the coming years. The cost of generation of solar power has already come down to Rs. 8 per unit from Rs.18 per unit few years back. This was stated by Dr. Farooq Abdullah, Minister for New and Renewable Energy while delivering his inaugural address on the Stakeholders Workshop on New and Renewable Energy in the Capital today. Dr. Abdullah stressed on the importance of the new and renewable energy sources in providing energy access to almost 40 per cent of the country’s population which lacks energy access at present. The Minister hoped that renewable energy could become the biggest driver of inclusive growth in rural and remote areas.
Highlighting the progress made by India in the field of new and renewableenergy, Dr. Abdullah stated that UPA has given a big thrust to this area and the Jawaharlal Nehru Solar Mission launched in January, 2010 has led to great success in the area of Solar power. India today has become no. 5 in wind power generation and has developed wind turbines capable of generating 8 Megawatt of power.
Apart from senior officials of MNRE and CAG, a range of stakeholders, including regulatory agencies, 11 State nodal agencies, PSUs like NTPC, NVVN, NABARD, Associations in Solar and Wind Energy, NGOs, IIT Roorkee and subject matter experts from the sector are participating in the one day workshop organized by the office of C & AG of India.
Dr Farooq Abdullah highlighted the importance of promoting the Green Buildings concept of saving the energy consumption since almost 40 per cent of the total energy is utilized in the building sector. The Ministry is pursuing promotion of green buildings in a major way and every new Government building to come up shall have a GRIHA rating of 3 and above.
Delivering the welcome address, the Comptroller and Auditor General of India Shri Shashi Kant Sharma said that CAG has planned to undertake an All India Performance Audit of the New and Renewable Energy sector in the near future. Shri Sharma said that this subject has been chosen keeping in view the tremendous growth potential of renewable energy and its growing importance for the economy and well being of the population at large.
Shri Sharma said that the CAG organization possesses a good experience of undertaking Performance Audit, which provides an independent assessment of the extent to which the audited entity, programme or organization operates efficiently and effectively, with due regard to economy.