Renewable electricity production to mitigate climate damage cost of coal based power

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New Delhi | Published: January 26, 2018 5:51:12 AM

The ministry of new and renewable energy (MNRE) said that increase in renewable-based electricity production would have several benefits including mitigating the cost of environmental damage of coal-based power.

Renewable electricity production, Renewable electricity, renewable power, climate damage , coal based powerThe ministry of new and renewable energy (MNRE) said that increase in renewable-based electricity production would have several benefits including mitigating the cost of environmental damage of coal-based power.

The ministry of new and renewable energy (MNRE) said that increase in renewable-based electricity production would have several benefits including mitigating the cost of environmental damage of coal-based power. Currently, environment damage due to use of fossil fuel to generate power is estimated at Rs 0.81/unit. The ministry flagged a number of long-term advantages of renewables in monetary terms, countering recent arguments which claimed that the social cost of renewable power is much higher than their nameplate tariffs. ERR is an indicator for understanding the socio-economic costs and benefits of renewable energy. Pitching for augmentation of renewable energy output, the ministry noted that the social cost of carbon would rise from Rs 0.14/unit in 2015 to Rs 0.30/unit in 2040. The ministry cited other advantages such as job creation and resource utilisation to substantiate its advocacy.

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