Ministry of New and Renewable Energy (MNRE) has announced that it has received President of India’s approval for the continuance of renewable energy research and technology development (RETD) program for execution through 2017-18 and 2019-20 at the budget of Rs.1.75 billion ($24.70 million).
The objective of the program is to encourage local technology development and manufacture for extensive applications of renewable energy such as solar thermal systems, solar photovoltaic systems biogas systems, waste to energy systems, wind energy systems, hybrid systems, storage systems, hydrogen and fuels cells, geothermal, etc. aimed at snowballing the share of renewables in the energy mix of the country.
It is also projected to make the renewable industry more competitive along with self-sustainable and lucrative. The RETD has registered R&D primacies of several areas and their technology gaps.
Applications from academic institutions, universities, research institutes, government, and non-profit research organizations would be entitled to 100 percent financial support in the total project cost. While financial support to the private research organizations would be limited at up to 50 percent of the project cost.
Bearing in mind the size scope and the goals to accomplish 175 GW of renewables by 2022, a $25 million budget for R&D is a subsistence wage.
