Renewables must take centre stage in India

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: Worldwide energy consumption has nearly doubled over the last four decades. Electricity use has nearly tripled. If these trends continue, global energy consumption may double again by mid-century. Fossil fuels (oil, natural gas and coal) will continue to supply much of the energy used worldwide, and oil is expected to remain the dominant energy source given its importance in the transportation and industrial end-use sectors. Coal and natural gas are expected to remain the most important fuels for electricity generation and the share of nuclear power and renewable energy sources, though increasing, is likely to remain low for some time.

Ever since the potentially dangerous effects of global warming and climate change have been recognised, the global focus has shifted to clean and renewable energy as they provide the solution to the impending crisis and ensure sustainable development. Volatility in the price of fossil fuels and their limited availability, environment concerns and the capacity of renewables to provide power in isolated and rural areas have put renewable energy at centre stage for the future.

Globally, the significance of renewables relative to conventional energy is increasing. Currently, around 4% of global power comes from renewables, excluding large hydropower plants, which account for a further 15%. With 16% of the world’s population, India has only 0.6% of global oil reserves and 7% of coal reserves. With economic growth envisaged at 8-9% a year for the next several years, despite the dampening effects of the global financial meltdown over the next two years, our energy requirement is expected to grow exponentially.

Greater consumption of energy is both necessary for economic growth and also as a result of it. India is facing an energy crisis, which impacts economic performance. The gap between domestic demand for energy and domestic sources of supply is widening at a rapid rate. Consequently, India’s dependence on imported energy sources is increasing. Currently, only 8% of India’s installed capacity is based on renewable sources (small hydropower units, biomass, solar, wind, etc). Large hydropower, also a renewable, is a significant 25%, while thermal (coal, oil and gas), the mainstay, is 65%.