Although India has one of the lowest per capita pollution rates in the world; it is still one of the biggest polluters due to its large population. Also the country is under immense pressure to reduce emissions with new emission reduction targets coming to place .To address its growing energy requirement while considering the global environment concerns, India needs to effectively harness renewable energy.
These were the findings of the Confederation of Indian Industry(CII)- Ernst and Young’s(E&Y) report on “Renewable Energy- the Next Wave. The report that was released today by Union Minister for New and Renewable Energy Farooq Abdullah, at CII Northern Region headquarters in Chandigarh reveals India has commercially viable renewable potential of around 85,000 Mw which includes wind potential of 45,000 Mw, small hydro of 6,000 Mw and 25,000 Mw of biomass/ bio-energy. The reports add that India has potential to generate 20 Mw per sq km using solar photovoltaic and solar thermal energy.
Highlighting the untapped renewable potential the report mentions that as against wind potential of 45,000Mw, nearly 35,000MW is yet to be tapped. Similarly bagasse cogeneration potential is estimated to be 5,000Mw but only 23 per cent has been achieved. The economically feasible small hydro potential is of 6,000 Mw but only 2,461Mw is realised till date and the solar potential of 20Mw/sq km remains largely untapped for grid interactive solar power.
The latest Ernst &Young’s Renewable Energy Country attractiveness Indices, which ranks countries based on regulatory environment, fiscal support, unexploited resources , suitability to different technologies and other factor determining renewable energy growth, has ranked India fourth on its All Renewable Index (ARI). It adds that India’s consistent top-grade ranking in the ARI over the past few years reflects the country’s appeal as a renewable energy destination.
