In the Union Budget 2024, the government has promised to introduce a new policy focusing on pumped storage technology. This initiative aims to enhance the country’s energy security and support the transition towards renewable energy sources.
Key Objectives
- Energy Storage Enhancement: The policy is designed to address the challenge of energy storage by promoting the development of pumped storage projects.
- Grid Stability: By improving storage capacity, the policy aims to stabilize the electricity grid and reduce reliance on fossil fuels.
- Renewable Integration: It supports the integration of intermittent renewable energy sources, such as solar and wind, into the national grid.
Expected Benefits
- Improved Energy Security: Enhanced storage capabilities will help ensure a reliable energy supply.
- Reduced Carbon Footprint: By supporting renewable energy, the policy contributes to lowering greenhouse gas emissions.
- Economic Growth: Development of pumped storage projects can create job opportunities and stimulate economic growth in the energy sector.
Implementation Plan
- Funding and Incentives: The government plans to allocate funds and provide incentives for the development of pumped storage facilities.
- Regulatory Framework: A clear regulatory framework will be established to facilitate the approval and execution of pumped storage projects.
Multiple Choice Questions (MCQs):
- What is the primary aim of the pumped storage policy announced in the Union Budget 2024?
- A) To increase fossil fuel usage
- B) To enhance energy storage and grid stability
- C) To reduce renewable energy sources
- D) To eliminate energy storage
- Which of the following is a benefit of the pumped storage policy?
- A) Increased carbon emissions
- B) Improved energy security
- C) Decreased job opportunities
- D) Higher reliance on fossil fuels
- What will the government provide to support the development of pumped storage projects?
- A) Tax increases
- B) Funding and incentives
- C) Reduced regulations
- D) Decreased renewable energy integration
- How does the pumped storage policy support renewable energy integration?
- A) By reducing energy storage capacity
- B) By increasing fossil fuel use
- C) By promoting the development of pumped storage projects
- D) By eliminating grid stability
- What will the government establish to facilitate pumped storage projects?
- A) A regulatory framework
- B) A new tax policy
- C) A ban on renewable energy
- D) A fossil fuel subsidy