Tapping Renewable Energy Sources in Contemporary India; Issues and Challenges

Abstract

Considering the fast depleting fossil fuel reserves, concerns of energy security and climate change, renewable energy sources are considered as a major source of India's future energy. Growth of renewable (RE) in developed countries is mainly driven by environmental concerns. Geothermal energy, Ocean thermal energy conversion (OTEC), wave energy, tidal power, wind energy, small hydro power generation, solar energy constitutes the major renewable energy resources. The loopholes in the institutional mechanisms are hindering the process of policy formulation. This paper finds the differences between central and regional needs that has created barriers to Renewable energy technologies in India. Meeting the energy requirements without compromising the ecology is a major challenge to India. But implementing projects and plans that address the energy needs of 1.21 billion people is complicated. The biggest challenge associated with Renewable Energy is the ‘grid parity’, where alternative sources of energy can be cheaper. Comprehensive policies for Renewable Energy are scarce in India. Specific Renewable Resource Technologies do not match the development of Renewable Energy sector. The state level policy frame works are not efficacious. Technological advancement along with successful policy frameworks that are time bound will help to utilize renewable energy sources, promising adequate energy supply to rural area. Sustainable energy production with respecting the interest of all section will ensure energy security.