The big push for renewable energy in India: What will drive it?
By A. Ghosh | July 1, 2015
India’s government has a bold goal for deploying renewable energy: 175 gigawatts of electricity-generating capacity by 2022, including 100 gigawatts of solar power. The country has a history of promoting renewable energy and a rapidly growing portfolio of solar and wind projects, but meeting the solar target alone will require a growth rate equivalent to doubling India’s installed solar capacity every 18 months. It will also require a clear understanding of the three factors that drive energy demand in India (access, security, and efficiency); new federal and state policies and incentives; innovative financing for capital investments estimated at $100 billion or more; and additional funding for manufacturing, training, and job creation. Project developers will have to grapple with the cost and availability of land, grid connections, and backup power. To meet the electricity needs of the poor and encourage rural entrepreneurship, India’s energy policies should aim for a mix of grid-connected and decentralized renewable energy sources.
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