Rajasthan, which leads the nation in the production of solar energy and signed MoUs totaling more than Rs. 8 lakh crore at the "Investment Rajasthan" conference, is set to gain from Finance Minister Nirmala Sitharaman's attention on the industry. As she focused on battery production, pumped hydro storage and green hydrogen, among other things, Sitharaman outlined measures to make solar a reliable power source when presenting the Budget.
The budget's emphasis, according to Sunil Bansal, President of the Rajasthan Solar Association, is on making solar energy dependable. This is the reason the budget included financing to fill the viability gap for the production of batteries with an emphasis on pumped hydro storage and green hydrogen.
Sitharaman suggested allocating Rs. 35,000 crore for top capital expenditures geared toward net zero and energy transformation goals. According to Sitharaman, the government is putting several programmes for green energy, farming, transportation, buildings, and equipment, as well as regulations for energy efficiency across many economic sectors.
In order to guide the economy toward sustainable growth, According to Sitharaman, viability gap funds would be used to assist battery energy storage systems with a capacity of 4,000 MWH. According to Bansal, if the green energy industry benefits from the Union Budget's promises it will benefit Rajasthan in a meaningful way.
“It will facilitate transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports and make the country assume technology and market leadership in this sunrise sector.” - Nirmala Sitharaman, Minister of Finance