Abstract
The primary objective for deploying renewable energy in India is to advance economic development, improve energy security, improve access to energy, and mitigate climate change. Sustainable development is possible by use of sustainable energy and by ensuring access to affordable, reliable, sustainable, and modern energy for citizens. Strong government support and the increasingly opportune economic situation have pushed India to be one of the top leaders in the world’s most attractive renewable energy markets. The government has designed policies, programs, and a liberal environment to attract foreign investments to ramp up the country in the renewable energy market at a rapid rate. It is anticipated that the renewable energy sector can create a large number of domestic jobs over the following years. This paper aims to present significant achievements, prospects, projections, generation of electricity, as well as challenges and investment and employment opportunities due to the development of renewable energy in India. In this review, we have identified the various obstacles faced by the renewable sector. The recommendations based on the review outcomes will provide useful information for policymakers, innovators, project developers, investors, industries, associated stakeholders and departments, researchers, and scientists.
Highlights
The sources of electricity production such as coal, oil, and natural gas have contributed to one-third of global greenhouse gas emissions
9075.50 increase the production of electricity from wind, solar, biomass, and small hydro; (f) peaking reserves that are acceptable in quantity or consistently good in quality or performance of grid operation where variable renewable energy source integration is provided through the promotion of hydroelectric power generation, including pumped storage projects (PSP); (g) to achieve better consumer services through efficient and reliable electricity infrastructure; (h) to supply sufficient and uninterrupted electricity to every level of consumers; and (i) to create adequate capacity, reserves in the production, transmission, and distribution that is sufficient for the reliability of supply of power to customers [64]
Even though there is an increase in capacity for the commercially deployed renewable energy technology, there is no decline in capital cost
Summary
The sources of electricity production such as coal, oil, and natural gas have contributed to one-third of global greenhouse gas emissions. 9075.50 increase the production of electricity from wind, solar, biomass, and small hydro; (f) peaking reserves that are acceptable in quantity or consistently good in quality or performance of grid operation where variable renewable energy source integration is provided through the promotion of hydroelectric power generation, including pumped storage projects (PSP); (g) to achieve better consumer services through efficient and reliable electricity infrastructure;. Foreign direct investment (FDI) inflows in the renewable energy sector of India between April 2000 and June amounted to USD 6.84 billion according to the report of the department of industrial policy and promotion (DIPP). Set by the government concerned, they lay down an electricity tariff that developers of qualifying new projects might anticipate to receive for the resulting electricity over a long interval (15–20 years) These present investors in the tax equity of renewable power projects with a credit that they can manage to offset the tax burden outside in their businesses. A lack of consistent data on the potential employment impact of renewables expansion makes it hard to assess the quantity of skilled, semi-skilled, and unskilled personnel that might be needed
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