Govt earmarks 14,500 crore for solar storage scheme to tackle peak-hour power shortage
· Business · Hindustan Times, Crude Oil Prices Today | OilPrice
Union Minister for New and Renewable Energy Pralhad Joshi announced the Cabinet's approval of a ₹14,500 crore energy storage scheme on November 5, 2026, to address peak-hour electricity demand. The plan links solar energy projects with battery storage, allocating 60 GW pumped-storage capacity and 30 GWh battery storage through viability gap funding. Additionally, 50 GWh will come from Green Energy Corridor Phase-3, supporting a total of 140 GWh of storage capacity. The government also targets an additional 500 GW renewable energy capacity beyond its 2030 goal of 500 GW, with Prime Minister Narendra Modi's backing.
Why it matters
The scheme will directly benefit grid reliability by reducing solar curtailment during excess generation hours and mitigating power shortages during non-solar periods, ensuring stable electricity supply as India expands renewable capacity.
Read the original report — Hindustan Times
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