Innovative solutions to ensure round the clock energy generation, reducing variability in renewable power generation and achieving better grid stability

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Innovative solutions to ensure round the clock energy generation, reducing variability in renewable power generation and achieving better grid stability
Innovative solutions to ensure round the clock energy generation, reducing variability in renewable power generation and achieving better grid stability
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Alternative Energy
Business Model Description

Solar-wind hybrid projects, or hybridisation of existing solar and wind plants to allow 24 hour electricity generation (resulting in reduced variability of energy generation), with the rated power capacity (maximum output / generation) of one source of energy to be at least 25% of the rated power capacity of the other source. Such hybrid projects would lead to savings in capital cost (in comparison to cost incurred on standalone solar and wind projects), with improved utilisation of common infrastructure such as land, approach roads and evacuation infrastructure.

Expected Impact

Reduction in carbon emissions by supplementing Renewable Energy production through hybrid methods that can improve grid stability.

How is this information gathered?
Updated: 4 Aug, 2021 Date of Production: 1 Nov, 2020
India
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
15% - 20% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
> USD 1 billion
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Affordable and Clean Energy (SDG 7) Climate Action (SDG 13)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Sustainable Cities and Communities (SDG 11) Responsible Consumption and Production (SDG 12) Life Below Water (SDG 14) Life on Land (SDG 15)

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Sector Sources
  • 3.1 https://www.climate-change-performance-index.org/country/india#:~:text=Donate-,India,Emissions%20and%20Energy%20Use%20categories. "3.2a https://niti.gov.in/sites/default/files/2019-12/SDG-India-Index-2.0_27-Dec.pdf 3.2b https://saubhagya.gov.in/" 3.3 https://www.ibef.org/industry/renewable-energy-presentation 3.4 https://www.carbonbrief.org/analysis-indias-co2-emissions-growth-poised-to-slow-sharply-in-2019 3.5 https://energy.economictimes.indiatimes.com/energy-speak/the-future-of-renewable-energy-in-india/3016 3.6 https://inc42.com/resources/electric-vehicles-the-segment-of-choice-to-invest-in-2020/ 3.7 https://www.ibef.org/industry/renewable-energy.aspx 3.8 https://energy.economictimes.indiatimes.com/news/renewable/another-100-billion-investment-required-to-meet-175-gw-re-target-MNRE-secy/73806002 3.9 https://www.investindia.gov.in/foreign-direct-investment 3.10 https://psuwatch.com/india-36-gw-renewable-energy-target-450-gw-2030-ieefa 3.11 https://www.livemint.com/news/india/train-journeys-could-leave-zero-carbon-footprint-by-2030-here-s-how-11594684996911.html 3.12 https://energy.economictimes.indiatimes.com/energy-speak/renewable-energy-new-normal-and-impact-of-covid-19/4167#:~:text=are%20being%20observed.-,In%20India%2C%20at%20present%20power%20demand%20has%20reduced%20by%2025,40%2C000%20cr. 3.13 https://energy.economictimes.indiatimes.com/news/renewable/covid-19-re-look-clean-energy-for-resilient-india/75299079
IOA Sources
  • 11.1 https://www.eqmagpro.com/wind-solar-hybrid-systems-may-raise-project-irr-by-upto-10-percent/ 11.2 https://solartechnologies.com/advantages-disadvantages-hybrid-solar-energy-systems/#:~:text=1.,inverter%20to%20provide%20you%20backup. 11.3 https://www.pv-tech.org/editors-blog/hero-launches-indias-first-solar-wind-hybrid-project#:~:text=Not%20only%20does%20this%20smooth,the%20solar%20PLF%20is%2018.7%25. 11.4 https://energy.economictimes.indiatimes.com/news/renewable/hybrid-wind-solar-assets-may-lower-capital-costs-by-5-7-study/65756328 11.5 https://MNRE.gov.in/img/documents/uploads/0ce0bba7b9f24b32aed4d89265d6b067.pdf 11.6 https://www.financialexpress.com/economy/government-estimates-9-11-per-cent-irr-for-renewable-projects/1030770/#:~:text=far%20this%20fiscal-,The%20ministry%20of%20new%20and%20renewable%20energy%20has%20proposed%20internal,said%20in%20a%20draft%20report. 11.7 https://www.evwind.es/2018/08/17/hybrid-solar-wind-energy-storage-market-size-set-for-continued-growth-over-2024/64246 11.8 https://www.pv-magazine.com/2020/06/11/india-set-to-add-15-gw-of-wind-solar-hybrid-capacity-in-five-years/ 11.9 https://www.gminsights.com/industry-analysis/hybrid-solar-wind-market 11.10 https://www.transparencymarketresearch.com/solar-wind-hybrid-system-market.html 11.11 https://www.saurenergy.com/solar-energy-news/seci-issues-rfs-for-1200-mw-wind-solar-hybrid-projects#:~:text=SECI%20shall%20enter%20into%20PPA,entire%20term%20of%2025%20years. 11.12 https://economictimes.indiatimes.com/small-biz/productline/power-generation/decoding-the-national-wind-solar-hybrid-policy/articleshow/71742000.cms?from=mdr 11.13 https://www.saurenergy.com/solar-energy-news/india-to-add-15-gw-of-wind-solar-hybrid-power-over-next-5-years-crisil 11.14 https://niti.gov.in/sites/default/files/2020-01/IEA-India%202020-In-depth-EnergyPolicy_0.pdf 11.15 https://www.evwind.es/2018/08/17/hybrid-solar-wind-energy-storage-market-size-set-for-continued-growth-over-2024/64246 11.16 https://www.financialexpress.com/infrastructure/modis-ambitious-wind-solar-hybrid-projects-witness-a-slow-beginning/1734535/#:~:text=Wind%2Dsolar%20hybrid%20projects%20were,175%20MW%20capacity%20by%202022.&text=The%20tepid%20response%20to%20the,2%2C500%20MW%20to%201%2C200%20MW. 11.17 https://solartechnologies.com/advantages-disadvantages-hybrid-solar-energy-systems/