Renewable Energy is at an interesting stage in India where the question is now on how best we can tap the potential and convert the opportunity available into actual projects being developed and scaled on the ground.
Earlier this year we had noted that, Dr. Manmohan Singh- Prime Minister-India has said that the Twelfth Five Year Plan will give energy efficiency and renewable energy special emphasis. The Plan will focus on specific initiatives needed to put our development on a path consistent with low carbon growth. Energy efficiency and exploitation of renewable energy sources will receive a special emphasis.
India could reduce the growth of carbon emissions by up to 35 percent by 2020 over 2005 levels — if it gets international finance and technology, a government panel for low-carbon strategy said in May this year.
As India’s blue-chip companies hop on to the clean-and-green bandwagon, the country’s low-carbon market is poised to expand rapidly. This will provide enormous opportunities for entrepreneurs to cut fuel costs, make plants more efficient and release fewer fumes in the air, and create new business for banks that can fund the exponential growth.
The Prime Minister, Dr. Manmohan Singh, attended a function to mark the valedictory session of the international seminar
on global environment and disaster management: law and society in New Delhi today, said “In the last four years our government has formulated a national agenda for environmental protection to meet the challenges of disaster management and climate change. We have a target for greening 10 million hectares of forest land to increase incomes of the poor
through a national Green India Mission. Action for generating over 20,000 MW of solar energy by the year 2020 is underway. Our mission for enhanced energy efficiency will reduce substantially need for capacity addition. Our mission for sustainable habitat will develop standards for green buildings which we intend to make integral to our municipal laws. Our missions on sustainable agriculture and water conservation will increase productivity of dry land agriculture as well as increase efficiency of water use. All these steps will cumulatively lead us to a low carbon growth path. These are steps that we have decided to take on our own as responsible global citizens. We are not waiting for an international consensus to evolve through ongoing negotiations on global climate change. “