May 2018 smartGOV_eMagazine_May2018 - Page 17

Smart Governance RenewableEnergy Author Dr Samir Kapur Author is skilled training and development coach and is a visiting faculty, with over 2 decades of experience, at leading institutes. All set for sun rise R enewable energy has been an important component of India’s energy planning. The importance of renewable energy sources in the transition to a sustainable energy base was recognized in the early 1970s. Modern renewable energy is being used increasingly in four distinct markets: power generation, heating and cooling, transport, and rural/off- grid energy services. The Ministry of New and Renewable Energy (MNRE) in India has been facilitating the implementation of broad spectrum programs including harnessing renewable power, renewable energy for rural areas for lighting, cooking and motive power, use of renewable energy in urban, industrial and commercial applications and development of alternate fuels and applications. In addition, it supports research, design and development of new and renewable energy technologies, products and services. The approach for deployment of new and renewable energy systems focused on a mix of subsidy, fiscal incentives, preferential tariffs, market mechanism and affirmative action such as renewable purchase obligations by way of legislation and policies. Financial support has also been extended to research and development (R&D), information & publicity and other support programs. Renewable energy plays an important role in the long-term energy supply security, diversification of energy mix, energy access, environmental security and sustainability. Renewable energy is bound to play an increasing role in future energy systems. Historically, there has been a correlation between real GDP growth and energy demand, and we believe that the Indian economy will continue to experience a rise in energy demand. India’s overall GDP and energy demand have increased significantly over the past several years primarily due to population growth, rapid industrialization and rising standards of living. Energy supply, however, has been unable to keep pace with this growing demand, which has resulted in a persistent demand/supply mismatch and an average energy deficit of 8.3% in the last decade. Last year has seen a paradigm shift in the way India’s economy will function by focusing on laying the infrastructure for widespread inclusion of all economic activity on the digital platform. Power sector plays a vital role in the growth of Indian economy and it is growing 17 | May 2018 |