Monday, September 22, 2014

Legislation on Renewable Energy

A renewable energy law needs to be enacted and implemented in India to increase renewable power generation in the country. Though it is possible to generate more wind power but most of the time windmills are in a state of dysfunction due to inadequacy of lines. There were about 3 billion units of wind power generated last year. Therefore we have a great need to efficiently re-structure wind energy to extract the real benefits.
There are various developed countries in the world have enforced renewable energy laws while India is yet to bring in legislation. A well defined separate legislation will also help to break the present barriers in increasing renewable energy resources. As the International Energy Agency studies show that until 2030 we need to rely on fossil fuels and the present energy basket constitutes 73 per cent of fossil fuel. So there is a great need to focus on renewable sources of energy such as wind, solar, geothermal to channelise the best resources towards energy production.
As per the FICCI report on power transmission, power shortages currently cost India a GDP loss of USD 68 billion which is 0.4 per cent of India's GDP. It further emphasizes to have more super thermal power plants and also focus on energy efficiency to satisfy the consumer demands.