Development of Renewable Energy Resources in India

There is an urgent need for transition from petroleum-based energy systems to renewable resources to decrease reliance on depleting reserves of fossil fuels and to mitigate climate change. In addition, renewable energy has the potential to create many employment opportunities at all levels, especially in rural areas. The need to boost the efforts for further development and promotion of renewable energy sources has been felt world over in light of high prices of crude oil. A disparaging part of the solution lies in promoting renewable energy technologies as a way to address concerns about energy security, economic growth in the face of rising energy prices, competitiveness, health costs and environmental degradation. The cost-effectiveness of Wind and Small Hydro power energy should also be taken into account. An emphasis should be given on presenting the real picture of massive renewable energy potential; it would be possible to attract foreign investments to herald a Green Energy Revolution in India. India’s quest for energy security and sustainable development rests a great deal on the ability to tap energy from alternate sources or the renewable sources.