The growing Indian economy places a huge demand on its energy resources. This can be attributed to the increasing GDP, industrialization and urbanization, large population and rising standards of living. Renewable energy or green energy can be seen as a solution for this increasing demand, apart from being an alternative energy source. Majority of the power generation in India is carried out by conventional energy sources, coal and fossil fuels primarily, which add to the greenhouse effect and global warming. This calls for a change in the pattern of power generation which has in fact picked up pace in the recent years. A lot of research and development have been carried out in India to find a feasible solution to the perennial problem of power shortage as well, considering that about 30% of the population still has no access to electricity. The rising prices of oil & gases and ample opportunities because of favorable geography make it necessary for the country to switch to what is known as green energy.
Today, there are numerous small companies, NGOs and social businesses are involved in selling renewable energy products and generating renewables-based energy and education people about the same. Many government policies also extend support to the cause. There is a progress in production of wind and solar energy much propelled by their low costs. Rural residents are now more aware about the environmental implications of switching to cleaner sources like wind and solar. Along with the lowering of the costs and solving the problem of shortage of power, this would even help to boost the rural economy which is the backbone of a developing nation like ours. It also encourages self dependence.
Although it enhances the access to rural poor to affordable and sustainable energy services, the green energy production and distribution faces many challenges. One of the major problems is that there is no cost effective solution to providing green energy around the clock. In addition, solar power requires a lot of land and expensive infrastructure. There is lack of financial support for sustaining such projects that are carried out by NGOs or social businesses. Moreover, the question of how easy is it to completely substitute the conventional energy resources with the renewable ones stays put. This is because there are limits in terms of both sources of the finite materials necessary to produce and distribute the renewables to a scale capable of meeting energy needs and also economic limits in terms of capital necessary to support this transition.
Lastly, the citizens need to be educated in regards with this issue to achieve an exemplary psyche.
India has a large potential for energy generation for utilization of renewable resource and this must be seen as an opportunity that the government and other businesses need to tap while catering to the goals of sustainable development.