Fdi in India

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Contents

Introduction        2

Need for renewable energy        2

Whose power plans are greener: China or India?        3

Swot analysis of renewable energy:        5

Government Initiatives        7

Economic Impact        8

India Renewable Energy Market Trends Analysis        11

Future Outlook for renewable energy sector in India        13

Issues and problems in India        15

Future Demand for renewable energy        16

Conclusion        17

Introduction

Renewable energy is energy taken from renewable resources that are replenished naturally. These resources are sunlight, wind, biomass, tides, waves, and geothermal heat. India has a vast supply of renewable energy, and it has implemented the largest renewable energy program. The Ministry of Non-Conventional Energy Sources (MNES) is the ministry for renewable energy development. India is the only country to have set up a separate ministry.

Sources of energy available in India:

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Need for renewable energy

Demand supply gap- The demand for energy is rising due to rapid economic development and increasing population. India’s power demand has been rising at a fast pace. It is estimated that India will require an additional power supply capacity of 450 GW by 2034. To meet this demand in a sustainable manner, renewable energy plays a vital role.

Rise in oil prices- In the past few years, the prices of oil fluctuated sharply, in July 2008 the oil prices was US $147 per barrel and then it fell sharply to US $34 per barrel in December 2008. In the year 2009 the price remained at an average of US $ 60 to US $ 80. Also the gas price is rising along with the price of oil, This imposes a great necessity to secure renewable sources of energy.

Scarcity of fossil fuel-  India is a growing economy and energy requirements are also growing. But fossil fuel i.e., coal, petroleum, and natural gas have limited reserves and cannot be replenished in a short time. Renewable energy can provide energy security and protect against

Global warming-  Due to climate change and other environmental issues, renewable energy is become a need to mitigate the such issues. As part of its Paris Agreement Commitments, India aims to achieve 175 GW of renewable energy by 2022.

Whose power plans are greener: China or India?

China and India are the two biggest rising economics and their growth has been fuelled mainly by non-renewable energy only and a lots of it believe me. China consumes a greater amount of coal than any other country, with India being on third rank.

The nations are competing with each other to create various other types of sources for renewable energy. As of now 32 GW of wind power and 12 GW of solar power is India having out of 320 GW.

In comparison with China, they have 149 GW of wind and 77 GW of solar based power which is very high in all of its neighbour. China have total 1646 GW of energy mix, which is almost 5 times of ours (India).  

Plans to be executed:

Both China and India showed five-year plan gets ready for economic development, and have done as such since 1951. China's thirteenth Five-Year Plan (FYP) keeps running from 2016-2020, while India's keeps running from 2017-2022.

The nations are trying to get different plans specifically in the field of power area. Recently China explained its Energy Plan for 2016-2020. In the meantime, the Indian Ministry of Power has presented a five-year National Electricity Plan (NEP) since 2007. It distributed its draft third NEP report in December 2016.

In the draft the government has explained various forecasting and recommendation related to the various fields of renewable energy. The draft showed the guidelines that how India could take care of electricity demand during the current thirteenth (2017-2022) and afterward fourteenth (2022-2027) five-year plan.

Both the countries are on the road of development  of renewable energy strategies which gives us the opportunity to compare these two:

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Non renewables sources in trend:

India's draft NEP insists a strategy of fast renewables extension. They wants to have 175 GW of renewable energy of renewable capacity through which they can achieve an extra 100GW of solar based power and 60 GW of wind power

In the five year time period, the development in the solar based power is almost 10 times which is identical to a increment of 60% while the wind energy got almost double. The arrangement likewise evaluates that before the finish of the thirteenth FYP period (2027), India will have 275 GW of renewables. In examination, China's thirteenth FYP electricity and energy plans intend to have 110 GW of solar oriented and 210 GW of wind power.

So if India will be able to get these predictions and objectives, Still it will only represent as much as a seventh of China’s solar based power.  

India to overtake China

As the renewable energy sources are extending and developing the speed of using coal power are slowing down. India is expecting that non-renewable sources will express only 47% of overall domestic energy by 2022, with 60% to 48% decreasing in he part of coal resources. Further India is expecting that the renewable energy will expand their share 56.5% of aggregate power limit.

Non-renewable energy sources are also increasing in China. Before the finish of China's thirteenth FYP (2020), 39% of the nation's energy will be from non-fossil sources, while coal power will represent 55% of overall.

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So if everything goes to according to plan then India will draw a higher extent of its energy from non-renewable sources as be greener and less carbon-escalated. In any case, its non-non-renewable energy source limit will in any case be short of what 33% of China's.

Swot analysis of renewable energy:

Although renewable and sustainable energy is not a new topic, Many states have achieved huge advances with in the 2 decades. There are many advantages to the renewable energy but the state should follow some proper strategy to increase the output. Renewable energy helps the nation to become independent and economically stable.