{"id":8151,"date":"2023-09-08T00:25:15","date_gmt":"2023-09-07T18:55:15","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=8151"},"modified":"2023-09-08T00:25:17","modified_gmt":"2023-09-07T18:55:17","slug":"battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/","title":{"rendered":"Viability Gap Funding for Battery Storage: Boosting India&#8217;s Renewable Energy Sector"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Cabinet_Approves_Rs_3760_Crore_Viability_Gap_Funding_Scheme_for_4_GW_Battery_Storage_by_2030-31\" >Cabinet Approves Rs 3,760 Crore Viability Gap Funding Scheme for 4 GW Battery Storage by 2030-31<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Why_this_News_is_Important\" >Why this News is Important<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Boosting_Renewable_Energy_Infrastructure\" >Boosting Renewable Energy Infrastructure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Reducing_Dependency_on_Fossil_Fuels\" >Reducing Dependency on Fossil Fuels<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Historical_Context\" >Historical Context<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Key_Takeaways_from_This_News\" >Key Takeaways from This News<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Important_FAQs_for_Students_from_this_News\" >Important FAQs for Students from this News<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Q_What_is_Viability_Gap_Funding_VGF\" >Q: What is Viability Gap Funding (VGF)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Q_How_will_the_4_GW_battery_storage_projects_benefit_Indias_energy_sector\" >Q: How will the 4 GW battery storage projects benefit India&#8217;s energy sector?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Q_What_is_the_significance_of_reducing_dependency_on_fossil_fuels\" >Q: What is the significance of reducing dependency on fossil fuels?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Q_How_does_battery_storage_enhance_energy_security\" >Q: How does battery storage enhance energy security?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Q_How_does_this_decision_support_Indias_commitment_to_combat_climate_change\" >Q: How does this decision support India&#8217;s commitment to combat climate change?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edunovations.com\/currentaffairs\/scheme_and_committees\/battery-storage-scheme-explore-indias-significant-step-towards-sustainable-energy-with-a-viability-gap-funding-scheme-for-battery-storage\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cabinet_Approves_Rs_3760_Crore_Viability_Gap_Funding_Scheme_for_4_GW_Battery_Storage_by_2030-31\"><\/span><strong>Cabinet Approves Rs 3,760 Crore Viability Gap Funding Scheme for 4 GW Battery Storage by 2030-31<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Union Cabinet has given its nod to a significant move aimed at boosting India&#8217;s renewable energy sector. The approval for a Viability Gap Funding (VGF) scheme of Rs 3,760 Crore for the establishment of 4 Gigawatts (GW) of grid-connected battery storage projects by 2030-31 marks a crucial step in the country&#8217;s transition towards cleaner energy solutions.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\" id=\"Battery-Storage-Scheme\"><img decoding=\"async\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-1024x683.webp\" alt=\"Battery Storage Scheme\n\" class=\"wp-image-8152\" width=\"597\" height=\"398\" title=\"Battery Storage Scheme\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-1024x683.webp 1024w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-300x200.webp 300w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-768x512.webp 768w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-820x545.webp 820w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme-600x400.webp 600w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/09\/Battery-Storage-Scheme.webp 1200w\" sizes=\"(max-width: 597px) 100vw, 597px\" \/><figcaption class=\"wp-element-caption\">Battery Storage Scheme<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_this_News_is_Important\"><\/span><strong>Why this News is Important<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Boosting_Renewable_Energy_Infrastructure\"><\/span>Boosting Renewable Energy Infrastructure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The decision to allocate VGF for battery storage projects is pivotal for India&#8217;s energy sector. Battery storage is integral to optimizing renewable energy utilization, as it helps store excess energy generated from renewable sources like solar and wind. This stored energy can be used during periods of low generation, ensuring a consistent power supply, even when the sun isn&#8217;t shining or the wind isn&#8217;t blowing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Reducing_Dependency_on_Fossil_Fuels\"><\/span>Reducing Dependency on Fossil Fuels<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">By promoting battery storage, the government aims to reduce its dependency on fossil fuels and decrease greenhouse gas emissions. This aligns with India&#8217;s commitments to combat climate change and move towards a greener and more sustainable energy future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Historical_Context\"><\/span><strong>Historical Context<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In recent years, India has made significant strides in the renewable energy sector, with a focus on solar and wind power. However, the intermittent nature of these sources necessitates effective energy storage solutions. Battery storage projects have gained prominence globally as a means to address this challenge and improve the reliability of renewable energy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways_from_This_News\"><\/span><strong>Key Takeaways from This News<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Serial Number<\/th><th>Key Takeaway<\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>The Union Cabinet approved a Rs 3,760 Crore VGF scheme for 4 GW battery storage projects by 2030-31.<\/td><\/tr><tr><td>2<\/td><td>Battery storage is crucial for optimizing renewable energy usage and ensuring a stable power supply.<\/td><\/tr><tr><td>3<\/td><td>This decision aligns with India&#8217;s commitment to reducing fossil fuel dependency and mitigating climate change.<\/td><\/tr><tr><td>4<\/td><td>Energy security is enhanced through battery storage, benefiting sectors such as defense, railways, and civil services.<\/td><\/tr><tr><td>5<\/td><td>India&#8217;s focus on renewable energy and energy storage reflects its commitment to a greener and more sustainable future.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Battery Storage Scheme<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_FAQs_for_Students_from_this_News\"><\/span>Important FAQs for Students from this News<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_Viability_Gap_Funding_VGF\"><\/span><strong>Q:<\/strong> What is Viability Gap Funding (VGF)? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A:<\/strong> Viability Gap Funding (VGF) is a financial support mechanism provided by the government to make infrastructure projects financially viable, particularly in sectors like renewable energy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_How_will_the_4_GW_battery_storage_projects_benefit_Indias_energy_sector\"><\/span><strong>Q:<\/strong> How will the 4 GW battery storage projects benefit India&#8217;s energy sector? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A:<\/strong> These projects will help store excess energy from renewable sources, ensuring a stable power supply even during low generation periods.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_What_is_the_significance_of_reducing_dependency_on_fossil_fuels\"><\/span><strong>Q:<\/strong> What is the significance of reducing dependency on fossil fuels? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A:<\/strong> Reducing dependency on fossil fuels aligns with environmental goals, reduces greenhouse gas emissions, and contributes to a cleaner and sustainable energy future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_How_does_battery_storage_enhance_energy_security\"><\/span><strong>Q:<\/strong> How does battery storage enhance energy security? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A:<\/strong> Battery storage provides a buffer against grid disruptions, ensuring uninterrupted power supply, which is essential for sectors like defense and civil services.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Q_How_does_this_decision_support_Indias_commitment_to_combat_climate_change\"><\/span><strong>Q:<\/strong> How does this decision support India&#8217;s commitment to combat climate change? <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A:<\/strong> By promoting renewable energy and energy storage, India reduces its carbon footprint and demonstrates a commitment to mitigating climate change.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/sports\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sports Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/international\/\" target=\"_blank\" rel=\"noreferrer noopener\">International Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/banking\/\" target=\"_blank\" rel=\"noreferrer noopener\">Banking Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/railway\/\" target=\"_blank\" rel=\"noreferrer noopener\">Railways Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/defence\/\" target=\"_blank\" rel=\"noreferrer noopener\">Defence Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs?newsmaticargs=custom&amp;posts=today\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairsinhindi\/\" target=\"_blank\" rel=\"noreferrer noopener\">Current Affairs In Hindi<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/news-and-notifications\/\" target=\"_blank\" rel=\"noreferrer noopener\">News and 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Website Development Company<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Cabinet Approves Rs 3,760 Crore Viability Gap Funding Scheme for 4 GW Battery Storage by 2030-31 The Union Cabinet has given its nod to a significant move aimed at boosting India&#8217;s renewable energy sector. The approval for a Viability Gap Funding (VGF) scheme of Rs 3,760 Crore for the establishment of 4 Gigawatts (GW) of&#8230;<\/p>\n","protected":false},"author":6,"featured_media":8153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[159,160],"tags":[5323,316,2882,5322,227],"class_list":["post-8151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-scheme_and_committees","category-science_and_technology","tag-battery-storage","tag-climate-change","tag-energy-sector","tag-government-funding","tag-renewable-energy"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/8151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/comments?post=8151"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/8151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media\/8153"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media?parent=8151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/categories?post=8151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/tags?post=8151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}