Renewable energy in India’s economic development: An analysis of reforms

India is making great strides when it comes to taking initiatives and implementing policies for harnessing the renewable energy sources. With its strategic geographical location, India has abundant resources of non-conventional energy.

As of 30 September 2020, 36.17% (including large hydro) of India’s installed electricity generation capacity is from renewable sources. According to 2027 blueprint, India aims to have 275 GW from renewable energy. India has also made substantial progress when it comes to legislations and consolidating a framework for achieving the objective of transforming the use of renewable energy sources as the mainstream and predominant mode of energy use.

The Government has conceived and devised major Policies in the renewable energy sector and legislations giving effect to the goals mentioned in such policies, which has been implemented with the sole intention of achieving holistic sustainable development while addressing the pressing issue of mitigating the effects of climate change. With the advent and expansion of industrialization and commercialization, the global boundaries started getting blurred and this led to a spurt in the process of exploiting of resources for the purpose of advancement among the nations.

However, this process of development came with its own vices and destructive features. Primary among them was the effect on the climate, the ever-increasing urbanization leading to depletion of forest cover, and increase in pollution levels.

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