The government agencies of India are already working towards achieving the renewable-energy
growth in the country. The companies have entered into the collaboration with renowned foreign
investors to explore the potential of these resources. The infrastructure for tapping the
sustainable energy resources as solar, wind, tidal, and hydropower is under progress. According
to reports and research, India would achieve the mix renewable-energy target by the year 2050.
This has come in the wake of the Paris Agreement where India pledged to reduce the carbon
footprint in the coming years.
Key Points in Sustaining the Energy Sources
India is said to be the fourth largest energy consumer in the world. The country’s higher demand
for energy has led the Indian government to harness the varied renewable resources. For this, the
various departments and management gurus are of the view that country’s organization should
work with foreign partners. This will help India to reduce the Green House Gas emission
significantly that will further help in solving the issues of Climatic Change. Here are some of the
key factors involved:
- Technological Changes: The most important thing is the establishment of advanced and
technically workable panels and turbines for harnessing the renewable-energy resources.
This will support in employing the clean-energy sources for the country. With the zero
tax initiation on the types of equipment, most of the Indian companies have come
forward and invested in this venture. More foreign collaborators are attracted towards the
Indian companies to collaborate in exploring the sustainable energy sources for
supporting the country in the future.
- Managing the Infrastructural Requirements: The biggest challenge in front of the
Indian government is to manage the infrastructure and managerial requirements related to
renewable-energy resources. It is necessary to have the proper infrastructure that will
assist the companies to channel the energy sources. Moreover, the management of the
company should work in a cordial manner so that they can work towards achieving the
Go Green goal.
- Establish the Energy Growth Units: The governmental agencies have recommended
the establishment of the Green Units. These units will directly work in coordination with
the Prime Minister’s office. This will help in aligning the sustainable energy resources,
meeting the investment needs of the companies and supporting in curbing the release of
carbon emissions in the atmosphere.
- Economic Growth: The sustainable energy resources are said to help India in its
economic growth too. India needs nearly $130 billion to meet its target of generating 175
Giga Watts by the year 2022. This will further assist the country in reaching its target of
achieving 40% of the renewable-energy resources by the year 2040. For this, the country
needs to look out for foreign investments and change the financing scenario options.
The sustainable energy resources are one of the significant transformations in the energy sector
of India that will help in meeting the electricity needs. This will further support the environment
in restricting the emission of toxic gases in the atmosphere. To achieve these targets the Indian
government needs to look out for the best investment opportunities to accelerate the economic
development of the country.