The Political Economy of Renewable Energy: Prospects and Challenges for the Renewable Energy Sector in India Post-Paris Negotiations

Abstract

The global emphasis on reduction in carbon footprint has brought the issue of clean energy back into focus. There are two most notable aspects of the debate. The first aspect concerns the tension it has generated globally between the green energy industry and the traditional energy industries while the second aspect of the debate concerns the developing countries, which lack the necessary infrastructure and technology to make the transition to clean energy. This transition amounts to a remarkable shift in the socio-economic paradigms of developing nations like India which have a largely carbon-based economy. In this article, we study the global transition to clean energy using the political economy framework, wherein we analyse the role played by international regimes, national governments and energy companies in facilitating or inhibiting this transition. We also try and ponder over the impact this transition has on emerging economies like India and how they seek to cope with this while resolving the tension between economic growth and sustainability.