Our planet is currently grappling with unprecedented environmental challenges. Climate change, fueled by the excessive burning of fossil fuels, is causing rising global temperatures, melting ice caps, and increasingly severe weather patterns. Pollution is impacting the air we breathe, the water we drink, and the soil we cultivate. These urgent issues underscore the critical need for a shift towards sustainable energy solutions.
Green energy emerges as a beacon of hope in this scenario. Derived from natural and renewable sources such as the sun, wind, water, and biomass, green energy offers a sustainable alternative to fossil fuels. Unlike conventional energy sources, green energy generates power without depleting the earth’s resources or releasing harmful emissions, making it an essential component in the fight against climate change and environmental degradation.
Let’s delve deeper into the realm of green energy with insights from Raghavendra Singh Royal, Joint Managing Director at MRS Group.
India has emerged as a global leader in the adoption and implementation of green energy. As the world’s third-largest consumer of energy, India’s transition to renewable sources is not only vital for its environmental goals but also for its economic growth and energy security.
The Indian government has been proactive in promoting green energy through a variety of initiatives and policies. In terms of renewable energy installed capacity, including large hydro projects, India holds the fourth position globally. Specifically, India ranks fourth in wind power capacity and fifth in solar power capacity, according to the REN21 Renewables 2023 Global Status Report. Notably, at COP26, India committed to an ambitious target of achieving 500 GW of non-fossil fuel-based energy by 2030, marking a significant enhancement from previous goals. This commitment, made under the Panchamrit initiative, represents the world’s largest expansion plan in renewable energy.
As of 2023, India’s renewable energy capacity has reached an impressive 179 GW, representing nearly 38% of the country’s total installed energy capacity. Solar energy is at the forefront with approximately 67 GW, followed by wind energy at 43 GW. Additionally, India has made substantial progress in small hydro and biomass energy, contributing to the overall renewable energy mix.
Raghavendra Singh Royal says, “Investment and infrastructure development have been pivotal in this growth trajectory. India has attracted significant investments from both domestic and international stakeholders. Major corporations and private investors are increasingly engaging in renewable energy projects, recognizing the sector’s potential for sustainable growth.”
To facilitate this transition, India is also upgrading its infrastructure to better integrate renewable energy into the national grid. This includes the development of smart grids and energy storage solutions, which are crucial for maintaining grid stability and reliability as the share of renewable energy continues to rise.
“These combined efforts reflect India’s commitment to a sustainable energy future, driven by policy support, robust investment, and advanced infrastructure development. The country’s ambitious targets and proactive measures are not only reducing its reliance on fossil fuels but also positioning it as a significant player in the global renewable energy landscape.” believes Raghavendra Singh Royal.
Future of green energy in India
India has set forth a clear commitment to achieving net zero emissions by 2070 and aims to fulfill 50% of its electricity requirements from renewable energy (RE) sources by 2030. According to estimates from the International Renewable Energy Agency (IRENA), RE has the potential to constitute around 90% of the world’s electricity by 2050. Looking ahead, the future of green energy in India appears promising, driven by ambitious targets, technological advancements, and a growing dedication to sustainability.
Continual advancements in technology are playing a pivotal role in making green energy more efficient and cost-effective. Innovations in solar panel efficiency, wind turbine design, and energy storage systems are essential for scaling up renewable energy production. Additionally, the adoption of smart grid technologies and digital solutions is enhancing the management and distribution of renewable energy resources.
“In India, the government’s dedication to green energy goals is truly commendable. We recognize the urgency of transitioning to sustainable practices, especially with our growing population. Access to reliable electricity is crucial for our nation’s progress, and green energy offers a path forward that benefits both people and the planet. Let us embrace green energy wholeheartedly, for a brighter and more sustainable future for all.” States Raghavendra Singh Royal.
He further adds “Collaboration between the public and private sectors will be paramount in driving the growth of green energy. Joint efforts in investing in large-scale projects, research and development, and capacity building will be essential for realizing India’s renewable energy goals. As India marches forward on its green energy journey, collaboration, innovation, and commitment will be key drivers in shaping a sustainable and prosperous future.”
India’s journey towards green energy is a testament to its commitment to sustainable development and environmental stewardship. With robust policies, technological innovations, and significant investments, India is poised to become a global leader in renewable energy. The future of green energy in India not only promises a cleaner and healthier environment but also paves the way for economic prosperity and energy security. As the nation continues to harness the power of the sun, wind, water, and earth, it sets an inspiring example for the world in the pursuit of a sustainable future.
