Renewable energy present status and future potentials in India: An overview

Abstract

Energy is ability or capacity to do work. The renewable energy sources are non-conventional and environmental friendly in nature. The renewable energy technology is a direct substitute of recent technology. With the help of renewable energy we can save more energy, make better environment by the replacement of fossil fuels. In the last two to three decades the environmental related problems are more created therefore the application of renewable energy technology is highly applicable for better environmental conditions. As the world population increases therefore the energy consumptions are also increases day by day so that we need to move alternative source of energy. Accounting for different types of renewable energy, this study evaluates the energy mix evolution in relation to a country's development level (proxied by real GDP per capita). Indian renewable energy sector is the fourth most attractive renewable energy market in the world. The Government of India is committed to increase the use of clean energy sources and is already undertaking various large-scale sustainable power projects and promoting green energy highly. The relation between renewable energy and sustainable development and their future scopes are broadly discussed in this paper. The estimated results asserted that renewable energy output, energy efficiency, economic growth and carbon emissions are the significant factors of renewable energy consumption. Further, this study suggests increased investment in renewable energy output, the energy efficiency sector and environmentally related technological innovation to encourage renewable energy consumption.