Another big victory of India! India is now a world leader in Renewable Energy

India is continually developing & progressing under Prime Minister Modi. Not only at national level but internationally also India has marked its strong presence. There is a list of unending achievements which India has added to its kitty

Enlargening this list further India has now been declared as world leader in renewable energy production. In a report released by the energy researcher BloombergNEF “2018 Climatescope” India reserved second position and is placed after Chile. The organisation studied over 80 indicators, such as clean energy policies, power sector structures, emissions and installed capacities for 103 countries around the world.

According to report, Renewable energy installations surpassed those by coal power plants for the first time in India in 2017 and the report owes India’s success to increased investments and clean energy installations. “India’s well-established domestic supply chain facilitated the development of clean energy projects further, despite competitive auctions putting downward pressure on profit margins across the value chain,” it said
The report mentioned India’s renewable auctions market as the largest in the world. “Over 11 gigawatt (GW) of projects were awarded through auctions in 2017 resulting in the best year for solar capacity as installations jumped by 90 pc over the year.”

Talking about the target of PM Modi Government the report mentioned The Narendra Modi government in India has set an ambitious goal of reaching 175GW of clean energy generation by March 2022. But according to the research in June 2018, renewables accounted for 71GW of India’s installed generating capacity. India’s renewables auctioned capacity has also increased by 68% since 2017, and clean energy investments, mostly related to solar power projects, added up to $7.4 billion in the first half of 2018, the report said.

Last year India was at 5th position. This year it climbed three spots and reached second position. In comparison, China which ranks 7th, is down from the top position last year.

Few days back our PM was also awarded with “UN Champion of Earth” Award for his bold environmental leadership on the global stage.PM Modi has taken many steps for the clean and green environment.

PM Modi launched an international solar alliance of over 120 countries with the French president, François Hollande, at the Paris COP21 climate summit. He stressed upon the use of Solar Technology.

Under his leadership, there is an eight fold increase in India’s renewable capacity. India’s renewable energy resources and solar power plant capacity has increased from 2.2 GW to 22 GW. Last year India attained the fourth position globally in installed wind power, and the capacity of wind power has increased from 21 GW to 34 GW in the past four years.

PM Narendra Modi reduced India’s coal consumption and increased renewable energy resources. Today India burns 8 per cent less coal to generate the same quantity of power as it did 4 years ago leading to reduced power cost

He urged large power consumers to make a shift towards renewable energy. India’s power ministry has increased the renewable purchase obligation (RPO) target from 17% now to 21% by 2022. The RPO mandates state power-distribution companies and certain other private firms to procure a part of their power requirement from renewable sources.

Apart from this many other steps have been taken by PM Modi for clean & green environment.PM Modi is truly a blessing for India.

Source : Weforum