India suffered the world’s biggest blackout on the 30th of July, which left more than 600 million people without power, leaving the government shamed. Despite being the world’s second most populous country, its share in world energy consumption stands at a meager 4.2%,.
The International Energy Agency (IEA) estimates that India needs an investment of at least $135 billion to provide meet the energy needs of its population. However, it has a significant renewable energy power generation potential; solar energy is a source with the highest attractiveness in the country, and is among the 15 most attractive countries for renewable energy.
Despite an increase in the installed capacity of power through conventional energy sources and the National Solar Mission launched in 2010, India is energy-deficient. About 400 million people have no access to the power grid and therefore rely on kerosene, which is hazardous to health and releases tons of carbon dioxide in the atmosphere. Energy access is poorest in remote and rural areas: overall electricity access of rural households has increased from 36% in 1994 to only 56% in 2011. However, electricity access is limited even in electrified villages due to inadequate generation and distribution infrastructure. Ensuring a lasting supply of clean energy becomes a prime requirement to promote inclusive growth. The good news for the country is that its energy needs can perhaps be fully met entirely by solar and other renewable sources.
In the past few years there has been a proliferation of social enterprises adopting a variety of business models in the clean energy sector. Mainly they sell devices that meet basic lighting and cooking solutions, household energy systems and off-grid energy solutions delivered to large communities. 25 per cent of social enterprises surveyed in Intellecap’s 2012 social enterprise landscape report were in the energy sector and had the highest growth compared to other sectors. Investment in India’s renewable energy sector was down by 45 per cent in 2012 to $6.85 billion compared to the $13 billion in 2011 according to the Global Trends in Renewable Energy Investment 2013 report.
The International Energy Agency (IEA) estimates that India needs an investment of at least $135 billion to provide meet the energy needs of its population. However, it has a significant renewable energy power generation potential; solar energy is a source with the highest attractiveness in the country, and is among the 15 most attractive countries for renewable energy.
Despite an increase in the installed capacity of power through conventional energy sources and the National Solar Mission launched in 2010, India is energy-deficient. About 400 million people have no access to the power grid and therefore rely on kerosene, which is hazardous to health and releases tons of carbon dioxide in the atmosphere. Energy access is poorest in remote and rural areas: overall electricity access of rural households has increased from 36% in 1994 to only 56% in 2011. However, electricity access is limited even in electrified villages due to inadequate generation and distribution infrastructure. Ensuring a lasting supply of clean energy becomes a prime requirement to promote inclusive growth. The good news for the country is that its energy needs can perhaps be fully met entirely by solar and other renewable sources.
In the past few years there has been a proliferation of social enterprises adopting a variety of business models in the clean energy sector. Mainly they sell devices that meet basic lighting and cooking solutions, household energy systems and off-grid energy solutions delivered to large communities. 25 per cent of social enterprises surveyed in Intellecap’s 2012 social enterprise landscape report were in the energy sector and had the highest growth compared to other sectors. Investment in India’s renewable energy sector was down by 45 per cent in 2012 to $6.85 billion compared to the $13 billion in 2011 according to the Global Trends in Renewable Energy Investment 2013 report.
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