Grid Interactive Renewable Power in India | Original Article

ABSTRACT:

Energy is critical, directly or indirectly, in the entire process of evolution, growth and survival of all living beings and it plays a vital role in the socio-economic development and human welfare of a country. Energy has come to be known as a `strategic commodity’ and any uncertainty about its supply can threaten the functioning of the economy, particularly in developing economies. Achieving energy security in this strategic sense is of fundamental importance not only to India’s economic growth but also for the human development objectives that aim at alleviation of poverty, unemployment and meeting the Millennium Development Goals (MDGs). Holistic planning for achieving these objectives requires quality energy statistics that is able to address the issues related to energy demand, energy poverty and environmental effects of energy growth. Renewable energy represents an area of tremendous opportunity for India. Energy is considered a prime agent in the generation of wealth and a significant factor in economic development. Energy is also essential for improving the quality of life. Development of conventional forms of energy for meeting the growing energy needs of society at a reasonable cost is the responsibility of the Government. Limited fossil resources and associated environmental problems have emphasized the need for new sustainable energy supply options. India depends heavily on coal and oil for meeting its energy demand which contributes to smog, acid rain and greenhouse gases’ emission. Last 25 years has been a period of intense activities related to research, development, production and distribution of energy in India. Keywords: compound annual growth rate (CAGR), Renewable energy, Energy conservation.