Renewable Energy Modeling – Transitioning to Green Energy.

“I always believe that tomorrow will be better than today. But I’m also a realist, and I know that believing and hoping won’t make it so. Doing is what matters.”

- Mike Bloomberg, Mayor of New York.

 

Introduction – why is Renewable Energy important for India

 

India has an increased need for energy to fulfill the development plans it is undertaking. It requires a vast quantum of energy that becomes a prerequisite for any kind of economic growth a country aims for. Almost all the developed countries have gone through this phase which India now is transgressing. A small hindrance in the supply chain will have a chain effect on the development plans. It needs to increase connectivity, electrification, and manufacturing units. Moreover, India has a whopping 140 cr population. So consumption of energy will always be on the higher side.

 

But it has come with some riders. As per World Resource Institute Report 2017, India’s share of total carbon emission is 6.65%, standing next to China, America, and European Union. India is also one of the largest consumers of coal and oil. About 75% of our energy is derived from coal and oil.  

 

Ministry of Power in India has an ambitious plan of electrifying entire rural India and has laid out a 10-year detailed plan and is investing heavily in it. If an alternative to coal and oil is not used, a chunk of our foreign reserves will be driven out of the country to pay oil bills. Also, the impact of fossil fuels on the environment is very heavy. It creates climate change, deteriorating air quality, and poor quality of life.

 

Scope of investing in clean energy.

 

The best alternative for India to advance economic growth without harming the environment is to encourage renewable energy sources. By investing in Renewable energy, we can guarantee affordable, reliable, and sustainable energy at low cost, least transmission loss, and attain the goal of advanced economic development.

 

Strong government policies and increasing opportunities in the field of renewable energy have to put India one of the top investors in green energy and this market is thriving in India. It also creates a large number of jobs and attracts foreign direct investment. The government has laid out an ambitious 10-year plan to boost renewable energy and plans to cut shot consumption of fossil fuels to 25 % by the year 2030. This has made the renewable energy sector in India, the best bet for investment.

 

Renewable energy forecasting – The Future of Renewable energy in India.

 

Hydropower is the largest source of renewable power followed by wind and solar. Wind and solar have shown the fastest growth rate in the renewable energy sector and by the year 2030, renewable energy production in India will be a quarter of total energy consumed. The government through its push to use solar on infrastructure projects has made its intention clear. Public transport is now using electricity and there is a plan of systematic withdrawal of fossil fuel vehicles from Indian roads.

 

Prospects and Challenges

 

India’s green energy consumption increase will be the fastest among all economies by 2030. Renewable will become the second significant source of power production overtaking gas. 

The demand for renewable has tremendous growth of 256 Mtoe in 2040 from 17 Mtoe in 2016, with an annual increase of 12%, as shown in Table.

 

	Level (Mtoe)
	1990	1995	2000	2005	2010	2016	2020	2025	2030	2035	2040	1990–2016	2016–2040
Total	195	251	316	394	537	724	880	1118	1365	1624	1921	5.2%	4.2%
Oil (Mb/dl)	58	75	106	122	155	212	251	308	359	419	485	5.1%	3.5%
Gas (Bcf/dl)	11	17	24	32	54	45	57	72	89	106	128	5.6%	4.5%
Coal	110	140	164	211	290	412	485	593	710	824	955	5.2%	3.6%
Nuclear	1	2	4	4	5	9	11	16	27	35	44	7.1%	7.0%
Hydro	15	17	17	22	25	29	36	43	47	50	52	2.6%	2.5%
Renewables	0	0	1	2	7	17	41	86	133	191	256	35.1%	12.0%

Major Government Initiatives- How India is making the transition to clean energy.

 

·       Push to Technology.

 

India set up a Technology development and innovation policy in the year 2017 to boost innovations in this sector. It aims to promote research, development, and demonstration (RD&D). They produce devices used for energy production domestically to cut costs and employment generation. The best use of technology can cut costs, increase outcomes, and more economical. 

 

·       Financial Incentives

 

The government encourages local households, local bodies, and industrial units to use renewable energy and assists them to start small energy production units. The government also provides 100% financial assistance as loans and subsidies to local bodies and 50 % financial support to industries. Between 2012 and 2017, 4467.8 million rupees were granted.

 

·       The wind-solar hybrid policy—2018

 

In 2018, MNRE announced a new policy of national wind-solar hybrid policy. The aim is to support new projects of producing electricity by wind and solar energy. These projects aim to minimize the transmission costs as they will be used locally and better grid stability.

 

Challenges

 

·       Cost

 

The most significant challenge this sector faces is the cost itself. Though the cost of production is very low and cheap, the investment required to set up a plant requires heavy investment. 

Setting up solar panels on an industrial basis requires more money to pool.  The production of solar panels comes as a monopoly of few countries and we need to import. This cost will be high until India starts manufacturing it. Setting up turbines for generating wind or hydropower is time-consuming and requires heavy investment. 

  

·       Time

 

The habit of using non-renewable energy sources is so high that it requires a huge effort from the local people to shift their preference and it will require time to change. Though electric-powered vehicles are economically viable, the demand for petrol or diesel vehicles is not declining. This requires a change in mindset.

 

Like every challenge, we can hope India can bypass the challenges by using more renewable energy sources. India is blessed with abundant sunlight and wind and water bodies. Our success story lies in how smart we use them scientifically without harming the environment and boosting economic growth.