Addressing the plenary session of the World Environment Day celebrations on June 5, 2018, Prime Minister Narendra Modi stated, “We are engaged in a massive push towards renewable energy generation. We have targeted [the] generation of 175 GW of solar and wind energy by 2022. We are already the fifth-largest producer of solar energy in the world. Not only this, we are also the sixth largest producer of renewable energy.” Along with Emmanuel Macron, the President of France, Mr. Modi also won the Champions of the Earth Award last year.
True, the expansion of renewable energy capacity in India is a step in the right direction. There are benefits not only from an environmental perspective but also in terms of generating more employment opportunities. However, the question is whether the government has put forth enough efforts to take advantage of the extremely favourable cost conditions on renewable energy, especially solar photovoltaics and onshore winds. The costs of electricity generation from these sources have declined at a rapid pace over the years and generating power from these renewables now costs more or less the same as fossil fuels. Read More