Harnessing the Power of the Future: The Impact of Renewable Energy on

India Today
Pragnyasinee Lenka
Department of Electrical and ElectronicsEngineering, NIET, NIIS INSTITUTE OF
ENGINEERING AND TECHNOLOGY
,Pragnya0165.lenka@gmail.com

Introduction:
In recent years, India has experienced a paradigm shift in its energy landscape,
transitioning from traditional fossil fuel reliance to a greater emphasis on
renewable energy sources. This shift is not merely a response to global
environmental concerns but is also driven by the need to secure a sustainable and
affordable energy future. The impact of renewable energy on India today is
profound, influencing economic growth, environmental sustainability, and energy
security.

1.Reduced Dependence on Fossil Fuels:

One of the significant impacts of renewable energy in India is the reduced
dependence on fossil fuels. Traditionally, the country heavily relied on coal and oil
for its energy needs. The integration of solar, wind, and hydroelectric power has
diversified the energy mix, minimizing the nation's vulnerability to volatile global
oil prices and geopolitical uncertainties.

2.Economic Growth and Job Creation:

The renewable energy sector has emerged as a key driver of economic growth
and job creation in India. Investments in solar and wind projects have surged,
leading to the establishment of new manufacturing units, research facilities, and
job opportunities across the country. This growth not only contributes to national
GDP but also fosters a skilled workforce, supporting India's journey towards
becoming a global renewable energy hub.

3. Mitigation of Climate Change:

 India's commitment to reducing greenhouse gas emissions aligns with the global
effort to combat climate change. Renewable energy technologies produce minimal
or no carbon emissions during operation, aiding in the mitigation of climate change
impacts. The reduction of air pollution, especially in densely populated urban
areas, has immediate health benefits, improving the overall well-being of the
population.

4. Energy Access in Rural Areas:

Renewable energy has played a crucial role in extending energy access to remote
and rural areas of India. Solar power, in particular, has been harnessed to electrify
off-grid villages, empowering communities and facilitating economic activities.
This decentralization of power generation ensures that even the most remote
regions can partake in the benefits of electricity, transforming lives and livelihoods.

5. Technological Advancements and Innovation:

The adoption of renewable energy sources has spurred technological
advancements and innovation in India. The country has become a breeding ground
for research and development in solar and wind technologies, leading to
breakthroughs in efficiency and cost-effectiveness. This innovation not only
benefits India but also positions it as a knowledge hub for renewable energy
solutions on the global stage.

6. Government Initiatives and Policy Support:

The Indian government's commitment to renewable energy is evident through
various policy measures and initiatives. Schemes such as the National Solar
Mission and the Wind Energy Mission outline ambitious targets for capacity
addition and investment. Financial incentives, subsidies, and favorable regulatory
frameworks further encourage businesses and investors to actively participate in
the renewable energy sector.
7. Reduced Dependence on Fossil Fuels:
According to the International Energy Agency (IEA), India's coal consumption
growth rate has slowed down significantly, with renewable energy accounting for a
larger share of the country's power generation.As of 2022, renewable energy
constitutes approximately 24% of India's total installed power capacity, a
significant increase from previous years (IEA).
8. Economic Growth and Job Creation:
The renewable energy sector has attracted substantial investments, contributing to
economic growth. According to the Ministry of New and Renewable Energy
(MNRE), the sector attracted over $8 billion in investments in the last fiscal
year.Job creation in the renewable energy sector has been impressive, with over
300,000 people employed in various roles, including manufacturing, installation,
and maintenance (Bridge to India report).
9. Mitigation of Climate Change:
India has committed to generating 40% of its total power capacity from renewable
sources by 2030 (IEA).According to the Global Carbon Project, India's carbon
dioxide emissions from the energy sector have shown a decreasing trend, attributed
to the increased share of renewable energy in the power mix.
10.Energy Access in Rural Areas:
The Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) has been instrumental
in rural electrification, with a focus on renewable energy sources. As a result, over
99% of villages in India are now electrified (Ministry of Power).Solar power has
been a game-changer in providing energy access in remote areas, with the off-grid
solar sector witnessing significant growth.
11. Technological Advancements and Innovation:
India ranks among the top countries for renewable energy research and
development expenditure. The Council on Energy, Environment, and Water
(CEEW) reports an annual increase in R&D spending, driving innovation in solar
and wind technologies.Breakthroughs in solar efficiency and storage technologies
have led to a decline in the cost of renewable energy production, making it more
competitive with conventional sources.
Government Initiatives and Policy Support:
The Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-
KUSUM) scheme aims to install 30.8 GW of solar capacity by 2022, promoting
solar power in the agricultural sector (MNRE).Incentives such as accelerated
depreciation, generation-based incentives, and concessional finance rates have
been crucial in encouraging private sector participation in renewable energy
projects.

Conclusion:
In conclusion, the impact of renewable energy on India today is multifaceted,
influencing economic, social, and environmental dimensions. As the nation strives
to meet its growing energy demands sustainably, the renewable energy sector
stands as a beacon of hope for a cleaner, greener future. The ongoing efforts to
harness the power of the sun, wind, and water not only transform the energy
landscape but also position India as a global leader in the race towards a
sustainable and resilient future.