Renewable energy is an area that is expected to take off in India, thanks to the ambitious mission stated by the Ministry of New and Renewable energy. It states, “24×7 affordable environment friendly power for all by 2019.” The government also plans to generate around 40 percent of its power from non-fossil fuels by 2030.
With the electronics market projected to grow at a compounded annual growth rate of 24.4 percent between 2012-2020 and expected to reach $400bn by 2022, it is only natural that we started looking at fossil-free sources of energy. India’s per capita energy consumption has seen sustained increase over the years (from 734kWh in 2008-09 to 1075 kWh in 2015-16), but it is still the lowest among the BRICS nations. With the whole push towards putting India on the digital highway, our energy infrastructure backbone has to grow proportionately. Investing and accelerating the dependence of renewable energy source is definitely deemed to play a major role in this.
Did you know, India is at the fourth position in terms of installed wind power capacity, ahead of Spain, UK, France, Canada. As on 31 October, 2016, Solar Energy Projects with an aggregate capacity of over 8727.62 MW have been installed in the country. India’s total solar capacity is 10GW and the government plans to take it to 17GW by 31 March 2017. Here are the targets of the government for renewable energy generation for the next three years. Read More…
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