Global giants are taking big steps to expand their green energy portfolio and add significant value to the renewable energy industry. Considering the benefits of sustainable RE, there’s an unprecedented rate of interest. Renewable energies are the future & communities are comprehensively adapting new non-conventional systems for prosperous outcomes. Renewable energy providers are globally putting collaborative efforts into scaling RE solutions for consumers all over the world. Money is flowing in the RE sector as top world economies like India are investing in the government as well as private RE providers and their advanced projects.
Tremendous transitions are taking place in the Indian green energy sector & so renewable electricity is rapidly growing in India compared to other top economies. As per the Ministry of Power, roughly 26% (100GW) of India’s energy requirement is fulfilled from renewables in the year 2021. India has a great opportunity to overtake the green energy sector & become a global leader in renewable energy storage solutions and green hydrogen supply chain.
India ranks 3rd in renewable energy country attractive index in 2021 and 3rd largest energy-consuming country in the world – Investindia.gov.in
The contribution of India to the greenhouse gases present in the air will be net zero by the year 2070 – announced by the Prime Minister of India, Mr. Narendra Modi at COP26. India is one of the biggest carbon footprint emitters globally and to increase the contribution of India to conserving the environment, achieving this goal is imperative. There are several challenges to achieving the net zero carbon goal, like the employment of coal workers, inflation in energy prices, and the dependency on non-conventional fossil fuels for tons of electricity.
India will reduce the carbon intensity of its economy by less than 45%. The government is taking crucial steps as this will require strategic planning; an announcement won’t bring any change. So far, the Indian renewable energy market has grown organically with the help of government policies that increased awareness among C&I consumers. According to the targets of the Indian government by 2030, renewable energy will overtake 50% of the energy supply, and carbon emissions will be less by billion tonnes.
India has set a target of having 175 GW of renewable energy capacity, including 100 GW of solar and 60 GW of wind energy, by 2022 – Timesofindia
Penetration of renewable energy into households and established as well as upcoming corporates in India will undoubtedly increase the chances of meeting the Indian target of achieving sustainable RE storage and zero carbon emission.
Consumers are adapting hybrid systems to gain geographical and financial advantages, so eventually, hybrid systems are paving their way in the Indian ecosystem after solar panels and wind turbines. AMP Energy India is one of the prominent renewable energy companies in India, perpetually working towards advanced renewable energy solutions providing efficient outcomes. Amp Energy India operates, builds, owns, and maintains renewable energy to both C&I and utility consumers.
Green energy is the future, and eventually, the effects of climate change will create the obligation for the mass to switch to green energy. Sooner or later, change is inevitable, and India is strategically leading the renewable energy sector with sustainable technologies.