Energy Policies and Investments Around Solar & Wind Energy in India: A Review

Year : 2024 | Volume :01 | Issue : 01 | Page : –
By

Gaurav Kumar

Shaifali

Anoop Kumar

  1. Student National Institute of Technology Hamirpur India
  2. Student National Institute of Technology Kurukshetra India
  3. Professor 3 National Institute of Technology Hamirpur India

Abstract

. India is a fast-moving economy and in this race of making our country a world power India is moving aggressively towards attaining its commitment to renewable energy goals. Our country India set an ambitious target of achieving 175 GW of renewable energy volume by 2022 and aim to achieve 500 GW by 2030. Bharat has in mind to move toward the Two Degree Celsius climate change objective under Nationally Determined Contributions in 2015 which has put one’s mark on 15% of renewable amalgamation in the foremost energy mix by 2020. Solar and wind energy are the more focused energies on which we are dependent more than any other form of the renewable energy. India like many other developing countries committed towards the net-zero emission and for that government of India form the energy policies for the better implementation of the renewable energy on the grass root level. Bharat’s Renewable Energy Programme is unparalleled and the most widespread among the developing nations of the World. The supreme authorities have designed some policies, programs, and an unconventional environment to attract foreign investments to move forward the nation into the renewable market at an increasing pace. This study reflects eloquent policies and investment openings in energy due to the development of renewable production in Bharat. The most important ans demanding issue facing Bharat’s subsidy framework is the lack of imaginative money involving options that will present larger amounts at less interest rates and for extended and long durations. Overall, sound financing and good policies will give pace to the process of production of energy, ultimately transforming to accelerated renewable growth.

Keywords: Keywords: Renewable energy, solar energy, wind energy, future potentials, policies in India, investments.

[This article belongs to International Journal of Sustainability(ijsu)]

How to cite this article: Gaurav Kumar, Shaifali, Anoop Kumar. Energy Policies and Investments Around Solar & Wind Energy in India: A Review. International Journal of Sustainability. 2024; 01(01):-.
How to cite this URL: Gaurav Kumar, Shaifali, Anoop Kumar. Energy Policies and Investments Around Solar & Wind Energy in India: A Review. International Journal of Sustainability. 2024; 01(01):-. Available from: https://journals.stmjournals.com/ijsu/article=2024/view=146580

References

  1. Ajadi, , Cuming, V., Boyle, R., Strahan, D., Kimmel, M., Logan, M., & McCrone,
  2. (2020). Global trends in renewable energy investment 2020.
  3. Yu, S., Evans, M., Kyle, P., Vu, L., Tan, Q., Gupta, A., & Patel, P. (2018). Imple- menting nationally determined contributions: building energy policies in India’s miti- gation Environmental Research Letters, 13(3), 034034
  4. Raturi, K. (2019). Renewables 2019 global status report
  5. Ministry of New and Renewable Energy Annual Report 2020-21
  6. https://mnre.gov.in/solar/current-status/
  7. Burke, J., Widnyana, J., Anjum, Z., Aisbett, E., Resosudarmo, B., & Baldwin, K.
  8. (2019). Overcoming barriers to solar and wind energy adoption in two Asian gi- ants: India and Indonesia. Energy Policy, 132, 1216-1228.
  9. https://mnre.gov.in/wind/current-status/
  10. Shrimali, G., Nelson, D., Goel, S., Konda, C., & Kumar, R. (2013). Renewable de- ployment in India: Financing costs and implications for policy. Energy Policy, 62, 28-43.
  11. ISA (International Solar Alliance), https://isolaralliance.org/
  12. CEEW (Council on Energy, Environment and Water), https://ceew.in/
  13. Khare, V., Nema, S., & Baredar, P. (2013). Status of solar wind renewable energy in Renewable and Sustainable Energy Reviews, 27, 1-10.
  14. Udemba, E. N., & Alola, A. A. (2022). Asymmetric inference of carbon neutrality and energy transition policy in Australia: The (de) merit of foreign direct investment. Journal of Cleaner Production, 343, 131023
  15. Elavarasan, M., Shafiullah, G. M., Manoj Kumar, N., & Padmanaban, S. (2019). A state-of-the-art review on the drive of renewables in Gujarat, state of India: present situation, barriers and future initiatives. Energies, 13(1), 40
  16. Kathuria, V., Ray, P., & Bhangaonkar, R. (2015). FDI (foreign direct investment) in wind energy sector in India: Testing the effectiveness of state policies using panel da- Energy, 80, 190-202.
  17. Amrutha, A. A., Balachandra, P., & Mathirajan, M. (2017). Role of targeted policies in mainstreaming renewable energy in a resource constrained electricity system: A case study of Karnataka electricity system in Energy Policy, 106, 48-58
  1. Singh, A. (2017). Clean development pathways for India: evaluating feasibility and modeling impact of policy options (Doctoral dissertation, Massachusetts Institute of Technology).
  2. Tarai, R. K., & Kale, P. (2018). Solar PV policy framework of Indian States: Over- view, pitfalls, challenges, and Renewable Energy Focus, 26, 46-57
  3. Singh, A., Winchester, N., & Karplus, V. J. (2019). Evaluating India’s climate tar- gets: The implications of economy-wide and sector-specific Climate Change Economics, 10(03), 1950009.
  4. Shrimali, G., Srinivasan, S., Goel, S., & Nelson, D. (2017). The effectiveness of fed- eral renewable policies in India. Renewable and Sustainable Energy Reviews, 70, 538-550.
  5. Farooquee, A. A., & Shrimali, G. (2016). Making renewable energy competitive in India: Reducing financing costs via a government-sponsored hedging facility. Energy Policy, 95, 518-528.
  6. Abe, M., Branchoux, C., & Kim, J. (2017). Renewable energy sector in emerging Asia: Development and
  7. Sharma, N. K., Tiwari, P. K., & Sood, Y. R. (2012). Solar energy in India: Strategies, policies, perspectives and future potential. Renewable and sustainable energy re- views, 16(1), 933-941.
  8. Bhattacharyya, S. C. (2005). The Electricity Act 2003: will it transform the Indian power sector?. Utilities Policy, 13(3), 260-272.
  9. The Gazette of India, Tariff Policy, 3, 2006.
  10. Sahoo, S. K. (2016). Renewable and sustainable energy reviews solar photovoltaic energy progress in India: A review. Renewable and Sustainable Energy Reviews, 59, 927-939.
  11. Jain, A., Das, P., Yamujala, S., Bhakar, R., & Mathur, J. (2020). Resource potential and variability assessment of solar and wind energy in Energy, 211, 118993.
  12. The government of India, Jawaharlal Nehru National Solar Mission: Guidelines for Selection of New Grid-Connected Solar Power Projects, MNRE, 2011
  13. Sawhney, (2021). Striving towards a circular economy: climate policy and renew- able energy in India. Clean Technologies and Environmental Policy, 23(2), 491-499.
  14. CPI (Climate Policy Initiative) (2019), Global Landscape of Climate Finance 2019
  15. India 2017 Coal Vs Renewbles Finance Analysis”, Centre for Financial Accountabil- ity, June 2018
  16. Gupta, A. R., & Bonds, G. (2020). Financing India’s renewable energy vision. ORF Issue Brief,
  17. Gupta Alok. “NCEF – A Fund To Boost Sustainable Growth in India”, Envecolog- ic, July 27, 2012, https://envecologic.com/ncef-fund-to-boost-sustainable-growth-in- india/
  18. Majid, A. (2020). Renewable energy for sustainable development in India: current status, future prospects, challenges, employment, and investment opportunities. Ener- gy, Sustainability and Society, 10(1), 1-36.
  19. Sarangi, G. K. (2018). Green energy finance in India: Challenges and solutions (No. 863). ADBI Working
  20. IRENA (International Renewable Energy Agency)
Regular Issue Subscription Review Article
Volume 01
Issue 01
Received March 30, 2024
Accepted May 3, 2024
Published May 18, 2024
Views: 47