The World Bank’s recently released report, the ‘Regulatory Indicators for Sustainable Energy (RISE)’, highlights that many of the world’s largest energy-consuming countries have significantly improved their renewable energy regulations since 2010.
The push towards renewable sources of energy is not new, and moving away from carbon has been the buzzword for the last decade or so. A regulatory push towards renewable power has resulted in quadrupling of renewable power capacity in the last decade, to over 1,000 gigawatt (GW).
China, the UK, Germany, Japan, India and the US are the largest producers of renewable energy, accounting for almost 70% of the installed capacity globally.
India, in fact, has made remarkable progress in terms of renewable power capacity additions in the last four years, with solar energy capacity growing almost eight-fold and wind energy increasing 1.6 times. Read More