It is a well known incontrovertible fact that India has the second largest population within the
world and is additionally the fastest growing population within the world. It’s estimated that
India’s population will overtake China’s by the year 2025. India has done well to supply
adequate energy for its growing population being the third biggest electricity consumer within
the world, however India has rock bottom per capita electricity consumption (Unit) among the
developed and developing countries within the world. India’s median age is 27 years, having
a substantial amount of youth population it’ll have to satisfy their growing energy needs. One
must also remember that India is a lively participant of the Paris Climate Agreement hence
through renewable energy India is looking forward to bringing down its greenhouse gasses
emissions ushering socio-economic change.
Thermal energy provides for 61% of total installed capacity, considering the Indian
Government’s commitment to renewable energy policies like Nehru National Solar Mission
and Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME), the
involvement of Thermal Energy is about to decrease.
Not only will the investment in renewable energy pay off it’ll also decrease the burden on
India’s foreign reserves, most of which are spent on purchasing fossil fuels, additionally to
making a huge amount of sustainable jobs for the exponentially growing youth population of
India’s geographical position may be a blessing for the use of renewable energy because it
has almost 300 sunny days which are a boon for the solar power industry in India and a
coastline of 7500KM for the installation of wind energy farms. India’s gargantuan rural
population also will contribute to its energy needs through Biogas plants. With the even
distribution of production of energy in India which has been made possible through
renewable energy, India’s per capita electricity consumption (Unit) also will increase
signalling a positive socio-economic trend.
Indian government is interested to get the utilization within the power sector which is
unstrapped till now. Still India depends upon foreign oil export to run automotives and
industries, which ate an outsized portion of foreign currency earned by India through exports.
Since the sun is shining all 12 months during a major portion of India, solar power may be a
good alternative for generation of energy. India features a coast line of 7500 KM, which may
be a good place to get wind energy. consistent with census 2011 around 69% of Indian
citizens sleep in rural areas and are involved in husbandry and agriculture.
Above three renewable energies are the new Indian market and may generate tons of
employment in manufacturing, installation and maintenance of renewable products at the
Indian Government is pushing this sector because energy generation through this doesn’t
create greenhouse gases, creates a clean environment and is infinitely available.