Abstract
Restructuring has changed the traditional mission and mandates of power utilities in complex ways, and had large impacts on environmental, social, and political conditions for any particular country. At the same time, new regulatory approaches are being found for reducing environmental impacts in restructured power sectors. India has a vast supply of renewable energy resources, and it has one of the largest programs in the world for deploying renewable energy based products and systems. So this paper attempts to review the various policies and measures undertaken by Indian government for promotion of renewable energy. The aim of this paper is also to review the current policy mechanisms, especially investment- or generation-based price-driven and capacity-driven mechanisms, ranging from investment incentives for the development of renewable energy projects, feed-in tariffs, production tax incentives, tradable green certificates, and their effects upon the prospects of encouraging as well as expanding the development of renewable energy in Indian restructured power sector. This will make renewable more attractive in the Indian future electricity market.
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