1. Policy and Regulatory Framework: The renewable energy sector in India faces challenges related to complex and evolving policies, regulations, and legal frameworks that create uncertainty and lack clarity.
2. Financing and Investment: Insufficient access to low-cost capital is a significant challenge in the renewable energy sector. Attracting private investments to scale up renewable energy projects remains a priority.
3. Grid Integration and Infrastructure: Integrating intermittent renewable energy sources into the grid and upgrading transmission and distribution infrastructure requires substantial investment and planning.
4. Technology and Innovation: Encouraging research and development, and the adoption of advanced technologies in renewable energy is vital to improve efficiency, reliability, and affordability.
5. Skills and Capacity Building: Developing a skilled workforce and creating training programs to meet the demands of the growing renewable energy industry is crucial for sustainable development.
Initiatives to address these challenges include the National Solar Mission, Green Energy Corridors, various state-level policies and incentives, collaborations with international organizations, and initiatives to attract private sector investment. The government is also focused on promoting energy storage technologies and improving grid infrastructure to ensure stability and reliability in renewable energy production.