Renewable Energy Development Scenario in India

Abstract

It is now a well-recognized fact that availability of electric power is an essential requirement for the development of a nation and the fact is very much applicable to India. India depends vastly on fossil fuel based power generating stations to meet its ever growing power demand. To meet future energy demands over the next few years, enhance its energy security and also adhere to the international climate change commitment, India needs to strive for a cleaner energy mix with an increased dependence on renewables. As on 31st August 2016, the total installed power capacity in India is 3,06,383 MW out of which renewable energy accounts for merely 15% (45,065 MW). Thermal power contributes 69%, hydro 14% and nuclear 2% to the total installed capacity in India. These existing ratios of energy mix are inappropriate to have efficient and balanced grid operation. Development of renewable energy including large hydropower projects could bring enhanced stability and efficiency in the grid. Renewable energy is the best form of energy security. The renewable resources are getting wasted every day being not utilized as these sources cannot be stored for future use whereas the fossil fuel sources are getting depleted fast with fast and continuous extractions. These sources could be saved for the future generations to come and could be used at the time of need and emergency.

Therefore, there is a need to increase and shift dependence on renewable energy for the development and prosperity of the nation. Development of renewable energy projects at a faster pace is need of the hour to meet country's energy demand. This also warrants the need of sustainable development of renewable resources to ensure the continuous availability of power generation.

This paper addresses the current scenario of renewable energy development in India and way forward for accelerated development of renewable energy.