Renewable energy sector is capable of meeting 35% of the energy demand in India, provided all renewable energy technologies are integrated in the mainstream.

According to a report released by Greenpeace on March 24, 2009 in New Delhi, renewable energy can successfully meet over 35% of power demand in India by 2030, and half of the forecasted energy needs can be met just by efficient and judicious production, distribution and use of energy.

At present, the renewable energy market values around $70 Billion and is doubling its size in every three years. India is planning to install 60,000 Megawatts (MW) of additional nuclear capacity by 2032 against the present 4,120 MW capacity. By virtue of this, the country will be able to meet as high as 18% of the power shortage. Solar energy presently accounts for just 0.5% of that figure, with a grid-hybrid solar energy accounting for only 2.12 MW from 33 installations. 

The development of energy infrastructure is going on strong in India and the country has an enormous human and intellectual asset. Thus, there is a big opportunity lying ahead in the field of renewable energy in India.

Due to economy of scales, non-conventional (renewable) energies like wind energy at good locations are giving tough competition to the traditional power. It is anticipated that from 2015 onwards, renewable energies will become the highly cost-effective energy capacities. Although the reconstruction of global power sector is presently facing political barricade, there is no technical barrier.

Furthermore, green energy revolution will not only help in saving money and sustain global economic development, but also help to deal with the catastrophe of climate change.

Despite the fact that challenges related to energy are well-known and major in India, global corporations are constantly pouring heavy investments in the country due to the vast pool of technically-affluent professionals.

According to a Research Analyst at RNCOS, “R&D activities in the field of renewable power technologies need to be included in the mainstream. The integration of renewable energy technologies into the main grid will support the mainstream renewable power sources that are presently dispersed. Consequently, the problem of power shortage can be effectively addressed in the country.” 

Related Market Research Reports:
Global LNG Market - The Road Ahead
Nuclear Energy - A New Hope for India
US Nuclear Energy Outlook