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Growth of Renewable Energy in India: Abstract
Growth of Renewable Energy in India: Abstract
Growth of Renewable Energy in India: Abstract
ABSTRACT:
Renewable energy in India comes under the purview of the Ministry of New and
Renewable Energy (MNRE). Newer renewable electricity sources are targeted to grow
massively by 2022, including a more than doubling of India's large wind power capacity.
India was the first country in the world to set up a ministry of non-conventional
energy resources, in early 1980s. As of September 30, 2016 India's cumulative grid
interactive or grid tied renewable energy capacity (excluding large hydro) reached about
44.24 GW 61% of the renewable power came from wind, while solar contributed nearly 19%.
Large hydro installed capacity was 43.11 GW as of September 30, 2016 and is administered
separately by the Ministry of Power and not included in MNRE targets. From 2015 onwards
the MNRE began laying down actionable plans for the renewable energy sector under its
ambit to make a quantum jump, building on strong foundations already established in the
country. MNRE renewable electricity targets have been upscale to grow from just under 43
GW in April 2016 to 175 GW by the year 2022, including 100 GW from solar power, 60 GW
from wind power, 10 GW from bio power and 5 GW from small hydro power. The ambitious
targets would see India quickly becoming one of the leading green energy producers in the
world and surpassing numerous developed countries. The government intends to achieve 40%
cumulative electric power capacity from non fossil fuel sources by 2030. The electricity
sector in India is going through a period of significant growth and change. Among other
aspects, the government is focussed on providing universal access and 24X7 supply. The
primary fuel sector has been revamped with the auction of coal mines; energy efficiency in
sectors across lighting to transport is being addressed; and a major attempt at transforming
the energy mix—with a goal of 175 GW of renewable energy by 2022—is under way.
Economic and sustainable development is necessary for any nation and energy is the major
sources of it. Developing countries like India where most of the energy is supplied by the
coal or other conventional sources is suffered by environment population and there is a worry
about depletion of its conventional sources. In this we have only renewable energy option to
fulfil the gap between demand and supply.
1. INTRODUCTION
The expanded fossil fuel use in the previous quite a few years has raised worries about the
exhaustion of fossil assets in future. This has additionally raised genuine ecological concerns
prompting environmental change issues. Environment change impacts are expected to affect
agriculture thus exposing food security, increasing natural disasters, species extinction,
spread of vector-borne infections, rise in sea-level and accelerating erosion of coastal zones.
The 2015 Paris climate conference is form to achieve a legally required agreement on climate
change for the first time in over 20 years; India has taken a deliberate commitment of
decreasing emission intensity of its GDP by 33-35 per cent from 2005 level by 2030. But For
India, high import requirement (oil and increasingly coal), large peak power and power
deficits, and high energy show serious challenges related to climate change, energy scarcity,
and energy security. To overcome these challenges, India has set extremely ambitious
renewable energy targets. The previous couple of decades have demonstrated a quickened
worldwide exertion in the improvement of renewable Energy sources and the related
innovations that serve them as Energy is currently perceived as a key division. Government
of India has adopted new controls and strategies empowering the occupation of renewable
Energy innovations. These efforts include advancing renewable energy technologies,
improving the efficiency of energy use, and establishing energy conservation plans alongside
their related legislative activities. India has set very huge renewable energy targets. As stated
in the National Action Plan for Climate Change, set up renewable energy is a strategic
priority for India. Under India's most recent budget, Union Budget 2015–2016, India aim to
install 100 GW of solar energy capacity and 60 GW of wind energy capacity by 2022. The
previously targets under the 12th Five Year Plan (2012–2017) intends to install an additional
20 GW of solar and 30 GW of wind capacity by 2022
Electricity production has crossed a landmark with 1,048 TWh (2014-15)—with a growth
of 5.9% over the last decade (2005-15). India is now the third largest electricity producer in
the world, just surpassing Japan and Russia. The generation capacity of 267 GW, which has
grown at a rapid 11% in the last five years, makes India the fourth largest electricity market
in the world. Furthermore, growing urbanisation, universal access, and government push for
infrastructure development and local manufacturing is expected to generate significant new
demand for electricity. Power deficits have been significantly but not entirely overcome. In
the past year, India suffered an energy and peak deficit of 3.6% and 4.7% respectively, down
from 8.7% and 9% two years back. The industry expects deficits to recur as growth picks up
and rural areas are connected. For these reasons, capacity addition remains a priority for the
government. The National Electricity Plan 2012 targets a new capacity build of 80 GW for
2012-2017, of which 61 GW (72%) has been achieved.
The private sector has been at the forefront of this growth (21.7% growth over 2005-
15) and now owns 38% (104 GW) of all generation capacity. The private sector has also
invested in transmission (e.g. Adani, Sterlite, Reliance, L&T, KEC, Kalpataru, and Tata) and
distribution (e.g., Tata, Reliance, Torrent Power, Essel) businesses. However, there have been
fewer such opportunities so far. Although FDI continues to grow—from 157 million USD
(2007) to 657 million USD (2015)—it is far below potential. The electricity sector accounts
for a mere 4% of all FDI inflows but the renewable energy segment has been a league apart
with both strategic and financial investors looking to actively invest.
REFERENCES:
IJISET - International Journal of Innovative Science, Engineering & Technology,
Vol. 3 Issue 6, June 2016
Mytrah Energy Limited, November 2016
www.ibef.org