Making Renewable Energy Lucrative and Convenient

Courtesy of Vestas

India is a developing country characterised by overpopulation, low incomes, and extremes gaps between the rich and the poor and with a diverse number of big cities in terms of wealth and lifestyle, all of which have a high demand for energy in order to fuel personal and industrial needs.

Author Ajay Pal Singh Chabba -, 06.24.13

India is a developing country characterised by overpopulation, low incomes, and extremes gaps between the rich and the poor and with a diverse number of big cities in terms of wealth and lifestyle, all of which have a high demand for energy in order to fuel personal and industrial needs.

Therefore, the development of renewable sources of energy such as solar represents a plausible solution to reduce the energy demand gap. The concept of renewable energy is showing great potential and, if implemented properly, it can contribute significantly to the sustainable growth of a country without curbing its economic aspirations.

Mr. Jonathan Fahey in his article on solar power going mainstream discussed the need for India to focus and develop technology in the renewable energy sector. The high costs that, for years made it impractical as a mainstream source of energy, are plummeting and more solar energy farms are being planned than any other power source, including nuclear, coal, natural gas and wind. Solar energy seems to have a promising future in India because of the rapidly falling module prices and the rise in the cost of conventional power due to fuel shortages.

Some solar projects could mean big things for energy in India. For example, projects like Jawaharlal Nehru National Solar Mission (JNNSM) aims to install 20,000 MW of solar power by 2022 in India which is a feed-in tariff project. The Press Information Bureau stated that this is one big step taken by the government towards boosting renewable energy as well as being a big move towards building India sustainably.

The introduction of initiatives like Renewable Energy Certificates (REC) for off grid markets will contribute to market growth as this will result in substantial saving for the customers. Finally, policies and easing of these laws will simultaneously contribute and make the shift towards renewable energy lucrative and convenient.

Author: Ajay Pal Singh Chabba/ RESET editorial

Follow Ajay Pal Singh Chabba on Twitter @AjaySinghChabba

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India’s Strategic Plan for Renewable Energy Sector for the Period 2011-17

India’s goal for renewable energy is to increase the contribution made by renewable resources to the generation of power from 16 percent  to about 18 percent by 2022. It has already been able to increase its power generation installed capacity by 11 percent when compared to dependency in 2002.