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					</table><p>India&#8217;s strategic advantages, including abundant renewable energy resources, existing consumption markets, and favorable investment opportunities, position it as a potential global green hydrogen hub, finds a new report by United States Agency for International Development (<a href="https://www.usaid.gov/">USAID</a>).</p>
<p>By leveraging resources and developing suitable sites as green hydrogen hubs, Indian producers can achieve some of the lowest levelized costs for green hydrogen and green ammonia globally, estimated at $ 3,800-4,800 per ton and $850-1,100 per ton, respectively.</p>
<p>While the price disparity between grey and green hydrogen remains a challenge, demand for green hydrogen is expected to be driven by government incentives, subsidies, and mandates for its consumption.</p>
<p>The government&#8217;s proactive approach, exemplified by the <u><a href="https://www.mercomindia.com/cabinet-approves-%e2%82%b9197-billion-hydrogen-mission">National Hydrogen Mission</a></u> approved at the beginning of the year, further propels the growth of the sector.</p>
<p>Union Minister of Power and Renewable Energy R. K. Singh <a href="https://www.mercomindia.com/green-hydrogen-india-save-%e2%82%b91-trillion-fuel-imports-2030">informed</a> Parliament that the government aims to reduce a total of ₹1 trillion (~$12 billion) worth of fossil fuel imports by 2030, following the targets set under the hydrogen mission.</p>
<p>The hydrogen mission sets forth India&#8217;s vision to establish a green hydrogen production capacity of at least 5 million metric tons (MMT) by 2030, leading to a substantial reduction of 50 MMT of carbon emissions annually. The mission also aims to position India as a key exporter of green hydrogen, capturing 10% of the global import demand in target markets.</p>
<p>By 2030, India is projected to achieve an annual demand of 2.85 MMT for green hydrogen.</p>
<p>This demand estimation is based on a &#8220;Base Case&#8221; scenario, which involves various factors such as a 10% switch to green hydrogen by India&#8217;s refineries, blending 10% green hydrogen in existing city gas distribution pipelines, substituting 50% of ammonia-based fertilizer imports with domestic green ammonia, and fulfilling 6% of demand from target importing countries.</p>
<p>Meeting this demand will require substantial investments amounting to approximately $56.7 billion.</p>
<p>India&#8217;s renewable energy capacity, including over 62 GW of solar and 42 GW of wind, positions the country favorably for green hydrogen production.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-54988 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture2-1.png" alt="" width="462" height="422" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture2-1.png 462w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture2-1-300x274.png 300w" sizes="(max-width: 462px) 100vw, 462px" /></p>
<p>The USAID report said India&#8217;s public and private institutions have responded positively to the government&#8217;s vision, announcing substantial investments across the green hydrogen value chain.</p>
<p>This includes renewable energy developers, electrolyzer manufacturers, oil and gas players, ammonia producers, steel manufacturers, and financial institutions.</p>
<p><strong>Renewable Energy Requirement</strong></p>
<p>To fulfill the demand estimates, India will need to add 62 GW of additional renewable energy capacity, and 29 GW of electrolyzer capacity and establish 11 MMT per annum of ammonia infrastructure by 2030.</p>
<p>This represents an estimated investment requirement of $36 billion for renewable energy capacity, $15 billion for electrolyzer capacity, and $6 billion for ammonia infrastructure.</p>
<p>The &#8220;Pathway to NHM Target&#8221; graphic represents an upside scenario, while the downside scenario, known as &#8220;business as usual,&#8221; assumes that green hydrogen is unable to replace existing alternatives and only a few announcements materialize.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-54989 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3.png" alt="" width="722" height="427" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3.png 722w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3-300x177.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3-650x384.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3-624x369.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/06/Picture3-600x355.png 600w" sizes="(max-width: 722px) 100vw, 722px" /></p>
<p><strong>Challenges</strong></p>
<p>The successful realization of these demand estimates will be crucial in driving India&#8217;s green hydrogen sector forward.</p>
<p>Several challenges need to be addressed to unlock the full potential of India&#8217;s green hydrogen sector.</p>
<p>Project bankability remains a key concern, requiring support mechanisms such as project preparation facilities and development support from the government and financial institutions.</p>
<p>Market demand aggregation bodies can facilitate efficient price discovery and ensure bankable offtake contracts, enabling developers to secure long-term commitments from consumers.</p>
<p>Additionally, regulatory frameworks, certification standards, and a harmonized global approach are needed to provide clarity and ease of compliance.</p>
<p>Furthermore, the domestic supply chain for electrolyzer parts and manufacturing capacity expansion must be prioritized to meet the growing demand for electrolyzers.</p>
<p>Despite the challenges, India&#8217;s green hydrogen sector is expected to witness significant growth in the coming years.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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India Requires $56 Billion to Meet 2030 Green Hydrogen Demand: USAID

<p>The <a href="https://eeslindia.org/content/raj/eesl/en/home.html" target="_blank" rel="noopener noreferrer">Energy Efficiency Services Limited</a> (EESL) has signed a 10-year Memorandum of Understanding (MoU) with <a href="https://www.apollohospitals.com/" target="_blank" rel="noopener noreferrer">Apollo Hospitals Enterprises</a>, a chain of super-specialty hospitals in India, to install public electric vehicle charging stations at its hospital premises across the country.</p>
<p>&#8220;This is the first such MoU by the EESL with a private partner to set up public charging infrastructure in the country,&#8221; the company said in a statement.</p>
<p>According to the memorandum, the EESL will invest in the specified services and deploy qualified workforce for the operation and maintenance of the public charging infrastructure. Apollo Hospitals will provide the required space and power connections for the charging infrastructure.</p>
<p>&#8220;Developing a strong supporting infrastructure is vital to building consumer confidence in electric vehicles. Our MoU with Apollo Hospitals reinforces the role of the private sector in achieving the goal of National Electric Mobility Program. Electric mobility is vital to reducing airborne emissions and enhancing air quality, a cause the healthcare sector can resonate with,&#8221; said Venkatesh Dwivedi, EESL director of the project.</p>
<p>According to the EESL, a joint venture of public sector units under the Ministry of Power has already commissioned 300 AC and 170 DC chargers across India, and 55 public charging points are currently operational in Delhi NCR. The company has also partnered with urban local bodies in cities like Hyderabad, Noida, Ahmedabad, Jaipur, and Chennai.</p>
<p>The company spokesperson told Mercom that the EV charging infrastructure would be installed preferably at the parking locations of Apollo Hospitals based on the locational assessment survey and feasibility study.</p>
<p>“The installations up to 100 EV charging stations will be taken up phase-wise, and cities such as Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, and Ahmedabad, will be targeted for the implementation of the project,&#8221; he added.</p>
<p><a href="https://mercomindia.com/eesl-floats-tender-200-electric-vehicle-fast-chargers/" target="_blank" rel="noopener noreferrer">Earlier this year</a>, the EESL had issued a tender for 200 fast chargers along with three years’ on-site warranty and annual maintenance contract. This initiative was called Demand-Side Energy Efficiency Investment Project.</p>
<p>In July 2019, the Department of Heavy Industry (<a href="https://mercomindia.com/government-proposals-ev-charging/" target="_blank" rel="noopener noreferrer">DHI</a>), had invited proposals for deploying electric vehicle charging infrastructure in the country’s big and smart cities under the Union government’s FAME program.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/anjana/" class="vcard author" rel="author"><span class="fn">Anjana Parikh</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2019/06/Anjana2.png" width="112" height="121" />Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.</p>
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EESL Signs MoU with Apollo to Install EV Charging Stations in its Hospitals Across India

<p><a href="https://greenbanknetwork.org/" target="_blank" rel="noopener">Green Bank Network</a>  is expected to mobilize $41 billion in public and private capital for green infrastructure projects around the globe.</p>
<p>Green banks are specialised financial institutions that work closely with the private sector to increase overall investment in clean energy. The aim of the green banks is to bring clean energy financing into the mainstream. Its members invest across the technology spectrum such as wind, utility, and small-scale solar, energy efficiency, low-carbon transport, combined heat and power, anaerobic digesters, LED street lighting, geothermal and energy storage.</p>
<p>Their finance portfolio has a wide range of products of all scales – from multibillion-dollar offshore wind farms to more energy efficient property and vehicles and affordable housing properties.</p>
<p>“Meeting climate goals will require an unprecedented and immediate mobilization of capital. Accelerating the formation of Green Banks in emerging economies can provide critical capacity to take on risk and leverage private capital to support large-scale low-carbon investment and enable countries, cities and states to meet their climate goals”, said Reed Hundt, CEO of the Coalition for Green Capital in a statement.</p>
<p>This network has been formed to foster collaboration and knowledge exchange and share some best practices. The members of the Green Bank Network include Clean Energy Finance Corporation (Australia), Connecticut Green Bank (US), Green Finance Organisation (Japan), Malaysia Green Technology Corporation, NY Green Bank (US), and Green Investment Group (UK) and Rhode Island Infrastructure Bank (US).</p>
<p>An analysis, by the Secretariat of the Green Bank Network, shows members are mobilizing as much as $10 in total investment for every $1 of public capital invested in clean energy projects. Moreover, to date these investments have avoided 25 million metric tons of harmful emissions.</p>
<p>A new climate finance facility has also been formed in Southern Africa. New green banks are also coming up in Latin America, Africa, Asia, and Europe.</p>
<p>Members of the Green Bank Network have so far committed about $10 billion for various projects with a total value of more than $40 billion.</p>
<p>Ilmi Granoff, Director of Sustainable Finance at the Climate Works Foundation said, “It is fantastic to see a growing network of institutions, in both industrialized and emerging markets, demonstrating that entrepreneurial public capital with a low-carbon mission is fiscally efficient and an effective catalyst for growth in the low-carbon economy.”</p>
<p>According to a recent <a href="http://www.cenfa.org/coal/government-owned-banks-in-india-financed-more-coal-than-re-in-2017/" target="_blank" rel="noopener">report</a> issued by the Center for Financial Accountability (CFA), a financial institution monitoring institute, public sector banks in the <a href="https://mercomindia.com/public-sector-banks-loans-coal/" target="_blank" rel="noopener">country funded</a> more coal projects than renewable projects in 2017. In contrast, government-owned banks and private financial institutions have invested more in renewable energy projects than coal-based projects, stated the report.</p>
<p><a href="https://mercomindia.com/india-top-recipients-electricity-financing-report/" target="_blank" rel="noopener">In a recent report titled</a> “Energizing Finance: Understanding the Landscape 2018” released by Sustainable Energy for All (<a href="https://www.seforall.org/" target="_blank" rel="noopener">SEforALL</a>), India was among the top recipients of electricity financing during the year 2015-16, with two-thirds of total financing concentrated in South Asia.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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Green Bank Network to Provide $41 Billion for Green Infrastructure Projects Around the World

<p>The Uttar Pradesh New and Renewable Energy Development Agency (<a href="http://upneda.org.in/">UPNEDA</a>) has invited bids from a selection of solar park developers to develop 200 MW solar park in the state through tariff-based competitive bidding process.</p>
<p>The solar park is to be developed according to the guidelines to set up private solar park in the state under Uttar Pradesh Solar Energy Policy 2017 and the guidelines issued by the Ministry of New and Renewables Energy (MNRE).</p>
<p>The Uttar Pradesh government will provide support for strengthening the grid network, while the DISCOMs will offer to purchase 100 percent power generated by the solar park, and also allow full sale to a third party under the Solar Energy Policy 2017. The earnest money deposit for the project is ₹200,000 (~$2,780) per MW.</p>
<p>The last date for bid submission is December 10, 2018. Technical bids will open on December 11, 2018 and the financial bids will open on December 19, 2018.</p>
<p>A UPNEDA official confirmed the issue of the solar tender to Mercom, adding, “As per ministry’s guidelines, we are expecting the private sector to actively participate. We have offered bids for 200 MW now and the minimum capacity to be set up is 50 MW.”</p>
<p>The minimum capacity for each solar park will be 50 MW. Though a bidder can apply for a maximum of 200 MW and set up the projects at multiple locations, at one location the minimum capacity must be 50 MW. A bidder can only bid for a capacity in multiples of 50 MW.</p>
<p>The solar power park developer will also be responsible for creating the internal transmission system, forecasting and scheduling, acquiring the land, and operations and maintenance services.</p>
<p>In <a href="https://mercomindia.com/uttar-pradesh-state-cabinet-solar-policy-2017/" target="_blank" rel="noopener">December 2017</a>, Uttar Pradesh government finalized the state’s solar policy and set a target of 10,700 MW for solar power, including 4,300 MW from rooftop solar projects, by FY 2022.  Recently, Uttar Pradesh Electricity Regulatory Commission (<a href="http://www.uperc.org/" target="_blank" rel="noopener">UPERC</a>) <a href="https://mercomindia.com/uperc-cuts-cross-subsidy-wheeling-charges-solar/" target="_blank" rel="noopener">amended</a> its Captive and Renewable Energy Generating Projects (CRE) Regulations 2014 with changes that are expected to reduce the cost of solar power procured from standalone projects in the state.</p>
<p>Then in <a href="https://mercomindia.com/upneda-draft-guidelines-private-solar-parks-uttar-pradesh/" target="_blank" rel="noopener">July 2018</a>, UPNEDA issued draft guidelines for setting up private solar park in the state. According to the draft guidelines, “The Uttar Pradesh state government will provide support in grid strengthening for development of private solar parks. The state through its distribution company (DISCOM) Uttar Pradesh Power Corporation Limited (UPPCL), will offer to purchase 100 percent power generated from the solar park. The state will also allow sale of entire energy generated to any third party through open access from such a solar park.” Under the draft guidelines, a private player can develop solar park either by taking the MNRE grant, or on its own.</p>
<p><a href="https://mercomindia.com/uttar-pradesh-comes-up-with-550-mw-solar-tender/" target="_blank" rel="noopener">Recently</a>, Mercom reported that UPNEDA invited bids for 550 MW of grid connected solar PV power projects.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nitin/" class="vcard author" rel="author"><span class="fn">Nitin Kabeer</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.com/wp-content/uploads/2018/04/nitin-2.png" alt="" width="99" height="105" /><span style="font-family: Calibri"><span style="color: #000000"><span>Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism &amp; Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. <a href="https://mercomindia.com/author/nitin/">More articles from Nitin Kabeer</a></span></span></span></p>
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Uttar Pradesh Invites Bids to Set Up 200 MW Solar Park

<p>The International Finance Corporation (IFC) has announced that it has expanded its operations in Europe and Central Asia with investment commitments reaching $2.9 billion.</p>
<p>The organization is focusing on driving the diversification of the region’s economies, promoting access to finance for small businesses and tackling climate change. As a private investment arm of the World Bank, IFC has been actively involved in developing countries, providing them with the required investments as well as advisory services to promote the private sector’s development.</p>
<p>Wiebke Schloemer, IFC’s director for Europe and Central Asia, said that for the coming years IFC’s investments will focus “on supporting the development of the fledging private sector in some of the poorest and conflicted-affected countries in the region while also continuing to work in middle income countries to promote innovation and competitiveness, energy efficiency and sustainable urban infrastructure.”</p>
<p>IFC invested $2.26 billion from its account and mobilized another $0.68 billion from other investors during its fiscal year 2018, which ended in June 30. The investments will be used to help the region’s financial sector. IFC is also looking to increase loans to small and medium-sized businesses, support women-owned businesses, develop agribusiness and improve the region’s urban infrastructure. IFC has supported $1.8 billion of cross-border trade in the region through 28 banks participating in its global trade finance program.</p>
<p>IFC’s largest commitments during the last fiscal year were in Turkey ($1.1 billion), Romania ($336.4 million), Serbia ($190.5 million), Ukraine ($129.1 million) and Kazakhstan ($111.5 million). Some landmark transactions include €108 million ($126 million) in financing to boost Serbia’s production of renewable energy through wind farms, $120 million in loans to increase the productivity of Ukraine’s agribusiness sector and a $75 million investment to support women entrepreneurs in Turkey. In January 2018, Mercom <a href="https://mercomindia.com/ifc-financial-package-jordan-solar-project/">reported</a> on IFC’s $188 million financial package for Jordan’s largest solar project.</p>
<p>IFC has also implemented 79 advisory projects in the region. The goal of these projects was to improve business regulations, working with the private sector to fight climate change and helping local companies improve their corporate governance, environmental and social practices.</p>
<p>In June 2018, Mercom <a href="https://mercomindia.com/ifc-signs-mandate-uzbekistan-renewables/">reported</a> on the news of IFC signing mandate to foster Uzbekistan’s renewable energy expansion plans.</p>
<p>Over the next fiscal year, IFC will continue to focus on high-impact projects that can help mitigate climate change, promote financial inclusion and create new jobs.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/shaurya-bajaj/" class="vcard author" rel="author"><span class="fn">shaurya</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><span style="font-family: Calibri"><span style="color: #000000"><span>Shaurya is a staff reporter at MercomIndia.com with experience working in the Indian solar energy industry for the past four years in various roles. Prior to joining Mercom, Shaurya worked with a renewable energy developer and a consulting company. Shaurya holds a Bachelors Degree in Business Management from Lancaster University in the United Kingdom. </span></span></span></p>
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IFC to Continue Supporting Private Sector Investments in Europe and Central Asia

<p>The <a href="https://www.weforum.org/" target="_blank" rel="noopener">World Economic Forum</a> has released a white paper titled <em> ‘Accelerating Sustainable Energy Innovation’</em> that argues the pace of innovation in sustainable energy is not adequate to address the challenges of climate change.</p>
<p>Two-thirds of global greenhouse gas (GHG) emissions are from energy consumption and production activities and it is imperative that innovation in sustainable energy systems is accelerated. According to the International Energy Agency (IEA) only solar PV, onshore wind, energy storage, and electric vehicles are technologies mature enough for large scale deployment.</p>
<p>The report highlights that though there is a significant increase in funding for cleaner technologies, investment in research and development (R&amp;D) have seen no growth in the past couple of years. Carbon capture and utilization, hydrogen, advanced nuclear, advanced biofuels, efficient heating and cooling are some of the technology areas with great potential. However, high costs, low returns, system inertia, and long lead times make it challenging for the innovation to match the pace needed for climate mitigation.</p>
<p>A multi-stakeholder approach, that includes innovation systems, transition studies, environmental and ecological economics can create a balance between economic growth, energy security, and system reliability during a complex energy transition.</p>
<p>Regulatory policies, public R&amp;D funding programmes, and innovation alliances are fundamental necessities to accelerate energy innovation, as market economics often do not support newer technologies. It is up to the government to incentivize and create a credible regulatory framework that supports investment in sustainable energy technology innovations. ARPA-E (USA), Kopernikus Program (Germany), and KIC InnoEnergy (EU) are some examples of public funding programs to promote innovation and entrepreneurship in nascent technology areas.</p>
<p>The paper proposes setting up an independent international fund to finance energy technology projects to accelerate this innovation. It could be financed through interested governments, the private sector, and climate philanthropists. It could be a win-win arrangement for funding countries, as it will provide better market access to newer technologies at a much lower cost.</p>
<p><a href="https://mercomindia.com/sandia-laboratory-design-cheap-solar-energy-storage/" target="_blank" rel="noopener">Mercom recently  reported</a> that the United States Department of Energy (DoE) is giving $10.5 million to Sandia National Laboratories to research and design a cheaper and more efficient concentrating solar energy system.</p>
<p>Image credit: Flickr</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nitin/" class="vcard author" rel="author"><span class="fn">Nitin Kabeer</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft wp-image-9822" src="https://mercomindia.com/wp-content/uploads/2018/04/nitin-2.png" alt="" width="99" height="105" /><span style="font-family: Calibri"><span style="color: #000000"><span>Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism &amp; Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. <a href="https://mercomindia.com/author/nitin/">More articles from Nitin Kabeer</a></span></span></span></p>
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