According to a recent report released by World Bank titled “Unleashing the potential of renewable energy in India”, India has 150GW of renewable energy potential, about half in the form of small hydropower, biomass, and wind and half in solar, cogeneration, and waste-to-energy.
Developing renewable energy can help India increase its energy security, reduce the adverse impacts on the local environment, lower its carbon intensity, contribute to more balanced regional development, and realize its aspirations for leadership in high-technology industries.
Since 2005 the energy and climate change agenda has taken center stage in the domestic and international policy arena. India is well placed to build on this momentum. It has tripled its renewable energy generation capacity in the past five years, now ranking fifth in the world in total installed renewable energy capacity, and it has established a legal and regulatory framework for sector oversight.
To achieve these goals, India needs an order-of-magnitude increase in renewable energy growth in the next decade, the report further adds.
According to this report , India should look at renewable energy to meet its power needs, Environment Minister Jairam Ramesh has said. In a letter to Prime Minister Manmohan Singh last week, Ramesh drew his attention to the above discussed World Bank report on renewable energy in India.
Besides a push for renewables would come with climate and health benefits, as well as give many under-developed states a shot at improving economic development. Ramesh has suggested that the Planning Commission and the Ministry of Renewable Energy “should initiate a time bound follow-up action” on the World Bank report.