Nonconventional Energy Resources in India

Abstract

Energy is an important input for economic development. Consumption of energy has increased globally manifold as the population has increased, energy consumption in developed countries has magnified, and its consumption in India and China has risen at an enlarged rate among emerging economies. The increasing consumption of energy has led to harmful impacts upon the environment such as fossil fuel consumption and the consequent problem of global warming. The need of the hour is to shift toward nonconventional sources of energy such as sun, wind, and biomass. These sources of energy are abundant, renewable, and environmentally friendly. Given this overview, this chapter emphasizes the following three objectives: (1) to highlight the potential of nonconventional energy sources in India, (2) to analyze the achievements and constraints in their development, and (3) to suggest measures of reducing the gap between potential and achievement. Analysis suggests that government should provide financial assistance, such as fiscal incentives by reducing import duty and excise duty. The Government should provide tax holidays such that industry and private sectors can utilize technology transfers and strive for becoming energy independent while enhancing the use of nonconventional sources of energy.