Renewable Energy

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MBA Aspirants are expected to know in regard to power or energy resources with which we all are getting affected and we have to take initiative to be self reliant in Energy sector. 
 
Today, you will read  Renewable Energy
 
Renewable energy is essentially energy that is derived from resources, which are replenished continuously, including sunlight, wind, rain, and geothermal heat. At present, 16% of the energy consumed on a global scale comes from renewable resources. 
 
Scientists and energy experts believe that this figure is likely to increase in the coming years because of the rapid depletion of non-renewable energy resources such as coal, petroleum and natural gas.
 
Generally, technological advancements in the field of renewable energy have occurred in developed nations because of the availability of funds and technical expertise. However, it is interesting to note that India was the first country in the world to establish a ministry of non-conventional energy resources.
 
In 1980s, the Indian government had identified the need for renewable energy and began developing wind and solar energy and converting waste into energy. Today, all matters pertaining to renewable energy come under the purview of the Ministry of New and Renewable Energy, whose objectives are to increase the share of clean power, improve the affordability of energy, and increase the public’s access to energy. 
 
India has high population density and high solar insolation, and these conditions are ideal for harnessing and utilizing solar energy. In 2009, the Indian government came up with a Rp 1183 billion (US$ 19 billion) plan to produce 20 GW of solar energy by 2020. Under this plan, all government buildings, hospitals and hotels will be required to use solar-powered equipment and applications. 
 
The applications of solar power are many – in the last few years, the government has installed 46 lakh solar lanterns and over 861,000 solar-powered home lights, replacing kerosene lamps, and developed solar-powered water pumping systems for both agricultural and residential usage.
 
In some farms, the government has installed solar driers to dry harvests before storing them in warehouses. In winters, both rural and urban households in India make use of substantial amount of hot water, which can put pressure on non-renewable energy resources. 
 
To reduce the public’s dependence on non-renewable energy resources, the government has installed rooftop solar water heaters in several cities, and these water heaters generate energy equivalent of 200 MW. In Bangalore, residents are encouraged to use rooftop thermal systems and rebates on electricity bills are given to promote the usage of clean energy.
 
Wind energy is yet another area in which significant development has taken place not only in India but the rest of the world too. According to a number of reports, India has the fifth largest installed wind power capacity in the world, after China, the United States, Germany and Spain, and the total capacity of wind power stands at 19779.15 MW. Wind power accounts for 8.5% of the total installed power capacity in India and it generates 1.6% of the power in India.
 
Suzlon, an Indian multinational wind power organisation, is the leading manufacturer of wind turbines in India and has captured over 40% of the market share in India. According to the Indian government, projects are being undertaken to increase the wind power capacity in India by 6000 MW by 2014.
 
At present, wind energy accounts for 68.9% of the renewable energy installed capacity in India while solar power accounts for 4.59%. The Indian government is working closely with a number of institutes and organisations to increase the renewable energy installed capacity in India and to encourage people to use clean energy resources. 
 
The Indian government believes that in a number of years, India will become the global leader in solar power generation and its growth rate in wind power will surpass that of China, the United States, Germany and Spain.
 
  
 
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