Can Renewables Make India Energy Secure?


Can Renewables Make India Energy Secure?

Recently, the International Energy Agency (IEA) has acknowledged India would be the fastest growing energy consumer  and market  till 2040. This applies not only to the hydrocarbon sector, but also for renewable energy (RE), as fast-declining costs turn solar and wind energy into the main drivers of growth in the power sector.

What does this mean for India, and more importantly, for its energy security? Poised to be among the top five renewables generators in the world in a few decades, moving up several notches from its current seventh position, will renewables solve India’s energy insecurity? After all, despite having an installed generation capacity of around 303 GW  the fourth largest  more than 300 million citizens are yet to gain access to electricity. At the same time, a growing economy and rising living standards has seen per capita consumption of energy increasing from a below global average – which means that there is room for even more growth! India is also one of the largest growing passenger vehicle markets.  Read More…

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