A study by one of the leading ratings firm in India shows that the cost of doubling the renewable energy generation capacity over the next five years would be negligible.
The Indian government has announced a the National Action Plan on Climate Change according to which the contribution of renewable energy resources to power generation would be increased to 10 percent by 2015 and 15 percent by 2020, as opposed to the current four percent. The main thrust would be on solar and wind energy infrastructure. The state electricity boards are also mandated to increase purchase of power from renewable energy sources by one percent every year.
Infrastructure development for tapping renewable energy sources for power generation is important as India looks to reduce its carbon emission output to offset international pressure for mandatory emission reduction targets and to reduce its dependence on foreign supplies of energy resources. (more…)