Economic Significance Of Renewable Energy Policy

The state government of Gujarat proposed a massive project to the central government of India in the year 2010. The project was to build the biggest solar park in Asia. The project was approved and the project is in commission from the year 2012. This project is part of many planned projects that would help the country achieve its 2020 green goal.

Global climate change has fundamentally transformed the way civilization views the energy of the future. As evidence of the drastic consequences of nonrenewable energy has become more widely accepted, society has embarked on developing innovative solutions to the energy crisis. In areas that experience prolonged periods of sunlight, solar panels have become a sustainable and cost-effective form of renewable energy. The Mojave Desert, located in California and Nevada, has proven to be one of the most promising areas for solar development (The Nature Conservancy). Fortunately, BrightSource Energy has invested $2.2 billion in the construction of a solar farm in the Mojave Desert region (Cart, 2012). The development of solar projects creates a

Continued investment should be encouraged in order to develop the best technology in energy for the future. Continued investment will allow for new and exciting developments that will improve the energy industry in the long run. It will assist the industry in satisfying the growing demand and need for sustainability. There are a number of political and legal factors that are significant to the energy industry. For example, laws and government regulation on energy use could potentially affect the demand for domestic energy and thus lead to a shift in prices. However, with an increase of clean energy use, the demand for energy will not change dramatically due to laws and regulations, instead, the future prosperity of the globe will improve.

In addition, solar energy operational costs are manageable. It is free from monthly charges compared to conventional sources of energy. Solar energy does not require raw materials such as oil and coal, and once the panels are built, there will be no monthly charges. In addition, the prices of fossil fuels are increasing day by day, and this means conventional energy will be very expensive. Solar energy will remain the most capable world’s future power supply because, it is cost effective once the plants are built, and there will be no transport costs like for conventional energy sources. Therefore, solar energy is cost-effective, and will help in future energy supply, as the maintenance cost is affordable, as long as they are installed properly, and are working efficiently ( Hans, 2012). Furthermore, with the improvement and advancement of technology, it will increase its efficiency, and cost of production thus, making it more cost effective and the world’s best

Being the second largest population in the world, India has accounted for the 10% growth in demand of energy around the world since 2000. Since the start of the 21st century the country’s demand for energy has increased more than 46% on a per-capita method. By 2013 India consumed 5.7% of the total

Current Prime Minister Modi has called for the development of renewable and nuclear energy along with gas and coal. He believes that increased use of renewable energy will help the environment while also providing electricity to rural areas. Future policies show that India’s primary focus is the economy. India is open to setting a peak emission year in the future but refuses to do so until its emissions match China’s emissions. This is projected to be sometime between 2030 and 2050. India has several other policies that are currently being discussed. The Super-Efficient Equipment Program encourages the production of equipment that is 30-50% more efficient than current energy efficient products. The Strategic Plan for the New and Renewable

Solar energy and its use isn’t new to the world. It has been used by various societies beginning from 7thCentury B.C, when the sun’s heat was concentrated by glass and mirrors to light fires. Today, we have everything from solar-powered buildings to solar-powered vehicles. By and large solar technology has some environmental, economic, psychological and ethical implications for our society. Actions taken by companies and individuals to increase the use of solar technology will create good local jobs, improve our environment and reduce our dependence on foreign oil while doing what’s ethical and moral for our society.

The industry identifies the absence of a feed-in tariff as a key obstacle to the growth of the renewable energy sector; assessing how best to promote growth

Coal is the primary fuel for electricity production in India and its usage is continuously growing to meet the energy demands of the country. Emissions of greenhouse gases and other pollutants are growing in India with the increasing demand for electricity. The aspiration for fast economic growth lead to grow rapid industrialization coupled with accelerated urbanization and mechanization of agriculture has been responsible for this increasing need of electricity ever since the independence. The electricity consumption grew from 375.39 (billion kWh) in 2000 to 600.65 (billion kWh) in 2008 at an annual growth rate of 6.67% , while the electric power production grew from 529.12 billion kWh in 2000 to 835.27 billion kWh at an annual growth rate of 5.78% .

This chapter will examine the available literature on policies used to encourage the growth of renewable energy sources and technologies. A wide variety of policies have been introduced around the world with differing levels of success. This chapter will look at some of them and discuss whether Scotland should adopt, intensify or even abandon each one.

1.2. Secondly, in the coming decades, the trend of liberalising energy markets will have to be combined with ambitious environmental goals within the European Union (EU). Currently prevailing incentive schemes (such as trade in tariffs) for renewable energy might not be in line with liberalisation of international energy markets. A good example might be the disadvantage that an operator which is situated near a greater renewable energy potential area, having to accept all the renewable

Pakistan’s economy is undergoing significant structural changes since 1999-2000. The real GDP growth is accelerating over the last five years. Over the next five years, 7-8 percent growth is targeted to be sustained, which will demand a huge rise in the energy use. The energy sector in Pakistan comprises of oil, natural gas, power (hydro and nuclear) and coal.

John Twidel and Tony wair ,2005 in renewable energy resources points out that It has become one of the fundamental principles for policy in the 21st century. The politicians, industrialists, environmentalists, economists, and theologians, are affirmed in the world the principle as they seek international, national, and local cooperation. However, reaching specific agreed policies and actions is proving much tougher!

The government of India is promoting the use of solar energy through various strategies. In the latest budget for FY2010-11, the government has announced an allocation of ₹1,000 Crore (US$150 million) towards the Jawaharlal Nehru National Solar Mission and the establishment of a clean energy fund. This is an increase of ₹380 Crore (US$56 million) from the previous budget. This new budget has also encouraged private solar companies by reducing customs duty on solar panels by 5% and exempting excise duty

The price of energy is increasing yearly. It is crucial for people to comprehend how every is very useful to them and how they can prevent it from getting wasted. Energy at home accounting in Calabasas will grow habitual practice of solutions to conserve the energy efficiency of their homes at the topmost level. Energy in India defines energy and electricity manufacture, depletion and importation in India. Energy policy of India designates the politics of India associated with energy. Electricity segment in India is the central article of electricity in India. At India, The Ministry of New and Renewable Energy offers data in the form of a yearly report concerning advancement in the energy area. India is a remaining energy distributor. India was 3rd highest coal producer in 2009. India carries importations of oil and coal. Energy conservation has arisen as the main policy goal, and the Energy Conservation Act in 2001, was approved by the Indian Parliament in September of 2001, 35.5% percent of the populace still live deprived of the right to use electricity. This Act necessitates great energy consumers to stick to energy consumption standards; new constructions to follow the Energy Conservation Building cipher, and purposes to encounter energy performance principles and to demonstrate energy depletion labels. The Act also produced the Bureau of Energy Efficiency to apply the provisions of the Act. In 2015, The Prime Minister, Mr. Modi launched a plan called Prakash Path