LACHOO MEMORIAL COLLEGE OF SCIENCE & TECHNOLOGY

(AUTONOMOUS COLLEGE)

NAME: MOHIT PARIHAR, DEVEN ARORA, NIHAR ARORA,

DUNGAR SINGH, VATSAL VYAS.

COURSE: MBA (MASTER OF BUSINESS ADMINISTRATION)

SUBJECT: BUSINESS ENVIRONMENT

SUMBITTED TO: NUPUR MA’AM

REPORT: RENEWABLE ENERGY WORK IN INDIA.

CONTENTS-

1. INTRODUCTION

2. GOAL

3. BUSINNESS MODEL

4. MARKET RESEARCH

5. STRATEGY

6. AUTHORIZED BUSINESS

7. TYPES OF RENEWABLE ENERGY

(a) Solar Power
(b)Wind Power
8. POLICY AND CONSUMPTION

9. PROJECTS IN INDIA

10. IMPACT OF RENEWWABLE ENERGY

(a) Social
(b)Economy
(c) Government

11. VISION

12.BIBLIOGRAPHY

1.
 ECO WAVE TECHNOLOGIES
(RENEWABLE ENERGY TECHNOLOGY)
The India renewable energy market size reached US$ 22.0 Billion in 2023.
Looking forward, IMARC (International Market Analysis Research and
Consulting) Group expects the market to reach US$ 46.7 Billion by 2032,
exhibiting a growth rate of 8.71% during 2024-2032.

INTRODUCTION-

India's energy demand is expected to increase more than of any other

country in the coming decades due to its size and potential for growth and
development. Therefore, most of this new energy demand must be met by
low-carbon, renewable sources. India's announcement that it intends to
achieve net zero carbon emissions by 2070 and to meet 50% of its
electricity needs from renewable sources by 2030 marks a historic point in
the global effort to combat climate change.

India was ranked fourth in wind power capacity and solar power capacity,
and fourth in renewable energy installed capacity, as of 2023. Installed
renewable power generation capacity has increased at a fast pace over the
past few years, posting a CAGR of 15.4% between FY16 and FY23. India
has 125.15 GW (GigaWatts) of renewable energy capacity in FY23. India is
the market with the fastest growth in renewable electricity, and by 2026,
new capacity additions are expected to double.

With the increased support of the Government and improved economics,

the sector has become attractive from an investor’s perspective. As India
looks to meet its energy demand on its own, renewable energy is set to play
an important role.

The market in India is majorly driven by increasing government support

by implementing supportive policies. These initiatives have attracted
investments and created a favourable environment for renewable energy
development. Furthermore, the declining costs of renewable energy
technologies, particularly solar and wind, are significantly contributing to
the market. The lowered prices of solar photovoltaic (PV) modules and
wind turbines have made renewable energy more competitive with fossil
fuels. Apart from this, India's rapidly growing economy and expanding
population have resulted in an accelerating demand for energy. To meet
this increasing demand, renewable energy sources are being utilized as a
sustainable and clean alternative to conventional fossil fuels. The
decentralization of power generation through renewable energy projects
also helps to address energy access challenges in remote areas.
Furthermore, the Indian government's focus on increasing energy access
and electrification in rural areas has amplified the demand for renewable
energy solutions. These areas often lack reliable access to the grid, and
decentralized renewable energy systems offer a practical and sustainable
way to meet their energy needs.

The rising awareness among individuals regarding renewable energy

benefits is propelling the market. There has been a notable shift in public
perception towards renewable energy and its advantages in recent years.
Individuals are becoming aware of the detrimental effects of fossil fuel
consumption on the environment, climate change, and air pollution. This
awareness has led to a greater appreciation for renewable energy sources
such as solar, wind, and hydropower, which are cleaner, sustainable, and
have a lower environmental impact. The individuals learn about renewable
energy technologies and their positive impacts, there is a growing demand
for clean energy solutions at the individual and community levels.
Individuals and businesses are actively seeking renewable energy options,
installing rooftop solar panels, and opting for green energy plans offered by
utility companies. This increased demand creates a favourable market
environment for renewable energy companies and drives investment in
renewable energy.

With more than 1.4 billion population, India has a massive demand for
energy for its rapidly growing economy. Since the time of Independence,
efforts to make India energy-independent have continued. Today India’s
Renewable Energy production capacity is experiencing significant growth.
Considering the sustainable development goals (SDG), power generation
mix of India is rapidly shifting towards a more substantial share from
renewable sources. Today, India is the world’s third largest producer of
power from renewable sources, with 40% of its installed electricity
generated coming from non-fossil fuel sources. There is also continuous
government assistance towards research and development and providing a
favourable environment to set up captive power generation and
manufacturing units that manufacture the machinery and equipment
needed by these units. Central and state governments are actively assisting
green entrepreneurs in setting up renewable energy generation plants such
as wind power plants, solar power plants, bioenergy generation plants etc.
and in the way, reduce the dependence on the import of equipment for this
Renewable Energy business, presenting a promising opportunity for
aspiring entrepreneurs.

Eco Wave Energy Group’s promise to provide a better, cleaner and

greener future for India. Driven by the Group’s philosophy of ‘Growth
with Goodness’, the Company develops, builds, owns, operates and
maintains utility-scale grid-connected solar and wind farm projects. The
electricity generated is supplied to central and state government entities
and government-backed corporations.

Goal-

To be a world class leader in businesses that enrich lives

and contribute to nations in building infrastructure
through sustainable value creation.

Bussiness Model-

Eco wave power owns and operates a diverse portfolio of assets spanning
across generation from Hydro, Wind, Solar and Thermal segments,
delivering maximum operational efficiency and is expanding to new-age
businesses like energy storage, green hydrogen and equipment
manufacturing. In our zeal to support India in meeting its Net Zero targets
(amount of greenhouse gases emitted into atmosphere), we are working on
reducing our carbon footprint and our impact on the environment. With a
strong focus on sustainable value creation for all our stakeholders, we are
targeting 20 GW generation and 40 GWh / 5 GW of energy storage before
FY 2030. Enroute to becoming a 20 GW company before 2030 As India
moves forward on its comprehensive energy security strategy, we at EVP
are supporting India with a strong focus on transitioning to renewable
energy sources and helping the nation achieve its Net Zero objectives. We
are working on our strategy of becoming a 20 GW generation and 40
GWh / 5 GW energy storage company before 2030. Consistent with our
growth plans, we are ensuring that we have the capability built-in to
execute large projects ensuring sustainable growth, and are acquiring
topographically productive land banks for future projects. We also remain
committed to reaching net zero emissions by 2050. We on-boarded new
opportunities in our business, which is leading us towards emerging as
India’s leading power producer, as we balance our growth aspirations and
risk management.

EVP Strategy-

 EVP is dedicated to making sustainable development a reality

through its innovative initiatives and practices. As a major player in
the energy sector, the Company understands its crucial role in
moving towards a low-carbon economy and supporting India’s Net-
Zero goals. To achieve this, EVP focusses on building robust(healthy)
infrastructure and integrating plans to reduce greenhouse gas
emissions and adapt to climate change impacts.
 One key aspect of EVP strategy is to diversify its energy resources by
exploring and investing in renewable energy sources like wind and
solar power. By expanding its renewable energy portfolio, our aims
to increase its operational capacity to 20 gigawatts (GW) by the year
2030. This ambitious goal positions the company as a leader in
renewable energy technologies and contributes significantly to
India’s clean energy transition.

 Recognising the urgent need to address climate change, EVP

conducts detailed studies to understand the potential risks and
impacts on its business operations. These studies help the company
identify vulnerabilities and develop strategic plans to ensure
resilience under various climate scenarios. By managing climate-
related risks, our aims to safeguard its business continuity and long
term sustainability. At the governance level, EVP takes climate
change seriously. This achievement EVP commitment to combating
climate change and reducing its environmental (carbon footprints).

Legitimising and Authorising Business-

Legitimising the business by registering it as a company is essential. Under
the Company's Act 2013, you can register the company as a proprietorship,
LLP, partnership, or sole private or public limited company.

Apply for an Employer Identification Number (EIN) to register for taxes,

obtain a Certificate of Occupancy to operate from a physical location, and
get business insurance to protect your company against loss. Here is a list
of documents, licenses, and certificates required for a company’s
registration:
 GST registration
 Company or LLP registration certificate
 Company’s PAN and bank account number
 Sales Tax and TIN numbers
 Certificate of Commencement
 Article of Association (AOA) & Memorandum of Association
(MOA)
 Shop and Establishment Act License

Market Research-

The India renewables energy market is set to reach a significant value by

2032, growing at an 8.00% CAGR (Compound Annual Growth Rate)
between years 2023-2032. Various key transformations on India’s
renewable energy market dynamics have occurred over the past decade
due to growing interest towards sustainability and transition to clean
alternatives.
The country has become a major player on the world stage of renewable
energy largely because of a confluence of policy efforts, new technological
developments and market trends that have attracted more investors. The
major driver of market dynamics is the Indian government’s focus in
attaining its setting renewable energy targets. Solar energy growth has
been unparalleled with India joining the ranks of one of the largest solar
power producers in the world.
The declining prices of solar panels as well as creation and introduction of
government incentives, tax rebates subsidies on the other hand have drawn
both domestic players to invest in this sector not forgetting international
actors. The country’s large solar power potential, which is manifested in
abundant sunlight has awakened the development of the sector for solar.
Beyond, government push for solar energy had a vital role in the provision
of electricity to those areas that are far away and can leave other regions
with minimal access.
The wind energy, an important rival of India’s renewable market has also
received a boost with technological developments and supportive
government policies. The introduction of competitive bidding has led to the
reduction of tariffs, and thus competitiveness with traditional sources.
Consequently, most wind power investments have been enormous that has
greatly increased the renewable energy mix. Offshore wind energy projects
are also increasingly drawing the attention of investors which opens new
avenues for expansion and adds to the overall power generation potential.
In addition, the market dynamics are also influenced by emerging
regulatory landscape and financial mechanisms. Novel financing modules
like the green bonds and infrastructure investment trusts have given
capitalization for renewable energy projects.
Government moves to address issues related in land acquisition,
transmission infrastructure and grid integration have helped secure
investor confidence making it easier for the development of projects using
renewable sources. India’s periodic vow to curtail its carbon footprint and
minimize the impacts of global climate change has also paved way for
commercialization of bioenergy as well other sources.
The focus on energy that is sustainable and decentralized has promoted the
utilization of biomass bio gas technologies, especially in rural areas. The
adopted decentralised approach fits in well with the government’s goal of
availability, sufficiency, and sustainability provision. While such positive
progress is made, however the challenges also continue in renewables
market.
However, grid integration challenges, intermittency worries and the
requirement for resilient energy storage are still key areas of attention in
this sector. The continued initiatives of research and development,
technological innovation along with international cooperation in addressing
these challenges indicate a strong resilience witnessed some years back by
the Indian renewables market.
India’s renewable energy market dynamics are multi-dimensional contest
of policies, technologies and financing. Despite an adequate understanding
of where the emphasis is needed, proper involvement and commitment
instead became easy due to favourable government policies that provide a
suitable environment for regulatory development. The continued changes
in the market dynamics indicate that India’s renewable energy sector is
capable of resilience and quick adjustment to meet this demand for clean,
sustainable power.

Types of renewable energy-

There are many renewable energy used but the main focus of our company
Eco Wave Power work on top 3 renewable energy.

 Solar Power

 Wind Power

1) Solar Power-
 India is the 4th largest player globally in terms of solar power
capacity, having added solar capacity at a fast pace from 21,651
MW in FY 2018 to 81,813 MW in FY 2024. Led by a strong
government push with policies like the Production-Linked
Incentive (PLI) for domestic manufacturing of modules and
panels.

 India’s total solar installed generation capacity as of 31st

March, 2024 stood at 81.8 GW, compared to 66.8 GW as of 31st
March, 2023. The contribution of solar energy increased to
18.5% of total installed generation capacity, up from 16% on
31st March, 2023.

 According to the Union Ministry of New and Renewable

Energy, in FY 2024, the solar power segment added a total new
capacity of 15.3 GW, slightly higher than the 12.8 GW added in
FY 2023. New solar capacity additions in FY 2024 made up
83% of the total renewable power capacity installed.

 The government is encouraging solar production through

various schemes and initiatives. The solar park scheme has been
designed to establish 50 solar parks of 500 MW and above with
 a cumulative capacity of ~38 GW by FY 2026. These solar parks
will aid in solar energy generation and achieve economies of
scale, making solar energy more affordable and accessible.
Under this scheme, 11 solar parks with an aggregate capacity of
8,521 MW have been completed, and 7 solar parks with an
aggregate capacity of 3,985 MW have been partially completed.
In these parks, solar projects of an aggregate capacity of 10,237
MW have been developed.

 Other schemes include PM-KUSUM, aimed at achieving a solar

power capacity addition of 30.8 GW by March 2026 in the
agricultural sector to replace diesel pumps with solar
agriculture water pumps and solarise existing grid-connected
agriculture pumps. To make solar energy commonplace in rural
areas, the rooftop solar programme for the residential sector
and the off-grid solar PV applications programme are
providing subsidies. India is working to become a solar
powerhouse, making solar energy more sustainable and
efficient.

 Solar power generation

Our engineering capabilities help us design cost-efficient

projects, which are backed by a thorough analysis of the land,
solar radiation, grid connection infrastructure and emerging
technologies. Our project design also considers various factors
such as the geographical location, climate conditions,
temperature and its impact on equipment, local facilities as well
as potential maintenance requirements. We thus ensure that all
our capital investment projects are carried out after
considering and studying the risks involved.

 Solar energy is the most abundant & cleanest energy

resource on earth. The amount of solar energy that hits the
earth’s surface in an hour is almost the same as the amount
required by all human activities in a year. Solar energy can
be used mainly in three ways one is direct conversion of
sunlight into electricity through PV cells, the two others
 being concentrating solar power (CSP) and solar thermal
collectors for heating and cooling (SHC). India is endowed
with abundant solar energy, which is capable of producing
5,000 trillion kilowatts of clean energy. Country is blessed
with around 300 sunny days in a year and solar insolation
of 4-7kWh per Sq. m per day. If this energy is harnessed
efficiently, it can easily reduce our energy deficit scenario
and that to with no carbon emission. Many States in India
have already recognized and identified solar energy
potential and other are lined up to meet their growing
energy needs with clean and everlasting solar energy. In
near future Solar energy will have a huge role to play in
meeting India’s energy demand.

Schemes Applicable -

The following fund and non-fund based schems are available in Solar
(Ground-Mounted, Rooftop Sectors) :

 Long term Project Financing

 Short term loan assistance to RE Developers /Suppliers/
Contractors/ Energy Efficiency Projects
 Bridge loan assistance to RE Promoters/ Developers against
Capital Subsidies/VGF
  Guarantee Assistance Scheme to RE Suppliers/ Manufacturers /
EPC Contractors/Developers

 Direct Discounting of MNRE Capital Subsidy for installation of

Solar Water Heating Systems
 Direct Discounting of GBI Claims Payable to Renewable Energy
Developers under MNRE Scheme
 Loan Scheme for Financing Rooftop Solar PV Grid Connected/
Interactive Power Projects
 Credit Enhancement Guarantee Scheme for raising Bonds
towards Solar Projects
 Policy for Issue of Letter of Comfort/Letter of Undertaking for
opening of Letter of Credit
 Policy for Financing of Transmission Projects
 IREDA Loan Scheme/Line of Credit for Financing Large Scale
Roof Top Solar PV Grid Connected/ Interacted Power Projects.
 Top-Up Loan Scheme
 Loan against Securitization of Future Cash Flow of Renewable
Energy Projects
 Short Term Loan Facility to Govt. Bodies/ Discoms/ Transcos
/State Owned Trading Companies
 Loan against Securitization of Future GBI receivables in case of
Grid Connected Solar Projects
 Takeover of Term Loans from Banks/FIs and Unsecured
Loans/Bridge Loans/Creditors Payables

Some of the technology that can revolutionize the energy sector

are:
 1. Solar PV Technology: Solar photovoltaic (PV) cells convert solar
light directly to electricity. The setup is directly installed on land or
on top of homes where there is direct exposure to the sun and is used
to power lighting and other electrical appliances we use daily.
2. Solar Thermal Technology: In this case, solar energy is used as a heat
source for direct use and to generate steam for electricity production
in residential buildings.
3. Floating Solar Technology: This type of solar energy generation is
similar to solar PV, however, the panels are set up on floating
platforms on water instead of land. This installation is most helpful
when the population density is high and the land area is limited.

The application of solar energy is widespread and diverse. Some

applications include solar electricity, solar water heating, solar heating,
solar ventilation, solar lighting, portable solar, solar transportation, etc.

SOLAR PLANT-

2) WIND ENERGY-
 India ranks fourth in wind power capacity globally. India has
set a target to significantly increase its wind energy capacity,
with a projected addition of 25 GW between FY 2025 and FY
2028 at a cost of ` 1.8–2 lakh crore.

 In the wind sector, about 3.3 GW of new capacity was added in

FY 2024, about 43% higher than the 2.2 GW capacity added in
FY 2023.

 India’s Central Electricity Authority (CEA) has projected an

increase in wind power capacity from 40 GW in FY 2022 to 73
GW by FY 2027 and further to 122 GW by FY 2032, amounting
to ~8 GW of new installations per year till FY 2032. Central and
state governments are working together to utilise the enormous
potential of its 195 GW of energy.

 According to the revised strategy for the development of

offshore wind energy projects issued in September 2023, a
bidding trajectory for the installation of 37 GW of offshore
wind energy is in place. The central transmission utility has
completed the planning of the required transmission
infrastructure for offshore wind projects for an initial 10 GW
offshore capacity (5 GW each off Gujarat and Tamil Nadu
coasts). The government has also notified the “Offshore Wind
Energy Lease Rules, 2023” to regulate the allocation of offshore
wind sea blocks to developers. With a vast coastline, India holds
good potential for offshore wind energy generation.

 Wind power generation

We develop, build, own, operate and maintain utility scale grid

connected renewable farm projects and generate revenue
through the sale of electricity to Central and state government
entities and government-backed corporations. For wind project
development, we continuously evaluate various regions of the
country for wind resource potential. We have already installed
 many wind-mast in resource rich areas of the country, enabling
us to confirm the site wind resource potential and
allowing micro siting.

Wind Energy in India We develop, build, own, operate and

maintain utility scale grid connected renewable farm projects and
generate revenue through the sale of electricity to Central and
state government entities and government-backed corporations.
For wind project development, we continuously evaluate various
regions of the country for wind resource potential. We have
already installed many wind-mast in resource rich areas of the
country, enabling us to confirm the site wind resource potential
and allowing micro siting-

 With an installed capacity of 42633 MW of Wind Energy,

Renewable Energy Sources (excluding large Hydro) currently
account for 30.08% (125160 MW) of India’s overall installed
power capacity of 416059 MW as of 31.03.2023.
 India’s installed wind power capacity is the 4th largest in the
world. The wind power capacity is mainly spread across,
southern, western and north-western regions of India
 Wind Energy holds the major portion of 34.06% of total RE
capacity among renewable and continues as the major supplier of
clean energy.
 The capacity utilization factor is nearly 18% in the fiscal year
2022–23 (19.33% in 2018–19, 16% in 2017–18, 19.62% in 2016–17
and 14% in 2015–16). 70% of annual wind generation is during
the five-month duration from May to September coinciding with
Southwest monsoon duration.
 The government of India has fixed a target of 500 GW of
Renewable Energy by 2030 out of which 140 GW will be from
Wind.
 Overall the future of Wind Energy in India is bright as energy
security and self-sufficiency is identified as the major driver.
 Wind power accounts for nearly 10% of India’s total installed
utility power generation capacity and generated 71.814 TWh in
the fiscal year 2022–23, which is nearly 4.43% of total electricity
generation.
 The Indian government has installed over 800 wind-monitoring
stations all over the country through the National Institute of
Wind Energy (NIWE) and issued wind potential maps at 50m,
80m, 100m, and 120m above ground level.
  The recent assessment indicates a gross wind power potential of
302 GW in the country at 100 meters and 695.50 GW at 120
meters above ground level. The estimated potential is found on the
higher side as the present installed capacity is operating below
20% CUF on average against the minimum 30% CUF considered
while assessing the wind potential.

Incentives for Renewable Energy in India

 Concession on import duty on specified wind turbine components.

 10-year income tax holiday for wind power generation projects.
 Concessional custom duty exemption on certain components of wind
electric generators
 100% exemption from excise duty on certain wind turbine
components.
 REC Mechanism.
 Permitting Foreign Direct Investment (FDI) up to 100 per cent under
the automatic route.
 Implementation of Green Energy Corridor project to facilitate grid
integration of large-scale renewable energy capacity addition.
 Technical support including wind resource assessment and
identification of potential sites through the National Institute of Wind
Energy, Chennai.
 IREDA finance scheme for wind power projects.
 Special incentives are provided for the promotion of exports from
India for various renewable energy technologies under renewable
sector-specific SEZ.
 Feed-in-Tariff (FIT) scheme for wind projects up to 25 MW

Policies
 Promotes optimum utilisation of wind energy resources by creating a
facilitative framework for repowering.
 Providing an interest rate rebate of 0.25% over and above the
existing interest rate rebate offered to new wind energy projects.

 All fiscal and fina According to a new report by GWEC and MEC
Intelligence (MEC+), between 2021 and 2025, India is expected to
install ~20.2 GW of wind power capacity.
WIND PLANT-

GW Consumption of Renewable energy in India.

Percentage of renewable energy consumption in India.
Energy conversion of Wind Power
Renewable energy projects in India-

1 Bhadla Solar Park, Rajasthan

The Bhadla Solar Park, located in Rajasthan’s Jodhpur district, benefits
from abundant solar irradiation and vast barren land, making it an ideal
site for a solar complex. With construction starting in July 2015 and the
first phase commissioned in October 2018, this 2.25 GW solar park is a
joint initiative by various organizations. It will contribute significantly to
India’s solar energy endeavours.
 2 Jaisalmer Wind Park, Jaisalmer
As India’s second-largest onshore wind project, the Jaisalmer Wind Park
in Rajasthan features wind farm sites aimed at harnessing wind power.
Developed by Suzlon Energy, the project has separate budgets for
engineering, procurement, construction (EPC), and operation and
maintenance (O&M) contracts.

3 Rewa Solar Project, Madhya Pradesh

Developed by Rewa Ultra Mega Solar Limited (RUMSL) MP Gurh
Tehsil, the Rewa Solar Project, commissioned in July 2018, boasts a
capacity of 750 MW and uses a vast revenue land for solar energy
production. The electricity generated by this project and others by RUMSL
will be supplied to Indian Railways in multiple states.

4 Brahmanvel Wind Farm, Maharashtra

Situated in Dhule, Maharashtra, the Brahmanvel Wind Farm has a total
capacity of 528 MW and was developed by Parakh Agro Industries.
Maharashtra ranks third among states with the highest installed wind
power in India, with this wind farm contributing to the overall capacity.

5 Vankusawade Wind Park, Maharashtra

Maharashtra, contributing 13% of India’s total wind power capacity,
houses the Vankusawade Wind Park, one of three major wind parks in the
state. Developed by Suzlon Energy and located 40 km from Satara, this
wind farm had an installed capacity of 570.15 MW in March 2015.

6 Shakti Sthala Solar Project, Karnataka

Regarded as the world’s largest solar park, the Shakti Sthala Solar Project
in Karnataka’s Pavagada region involved an investment of Rs 16,500 crore.
As part of the Karnataka Solar Policy 2014-2021, the project is being
constructed in two phases, covering a vast area and boasting a capacity of
2,000 MW.
 7 Pavagada Solar Park, Karnataka
Commissioned in 2018, the Pavagada Solar Park in Karnataka features a
multi-phase plan, aiming for 600 MW in the first phase and 1,400 MW in
the subsequent phases. With an estimated budget of Rs 14,800 crore, this
solar park covers an extensive area and provides an alternative energy
source for the locals.

8 Muppandal Wind Farm, Tamil Nadu

Situated in Tamil Nadu, the Muppandal Wind Farm is India’s largest wind
farm, boasting a capacity of 25.5 MW. Developed by the Tamil Nadu
Energy Development Agency (TEDA) in 2007, this project reflects India’s
remarkable progress in transitioning from conventional to renewable
energy sources.

Renewable energy can have many social impacts,

including:
 Improved public health

Renewable energy projects produce less air and water pollution than fossil
fuel-based power generation, which can lead to fewer respiratory illnesses.

 Increased access to energy

Renewable energy projects can help bring electricity to underserved

communities and improve access to energy for people living without it.

 Job creation

The renewable energy industry employs millions of people, and demand for
skilled workers is expected to grow.

 Economic opportunities

Renewable energy can create economic opportunities in rural areas, such

as small income generation activities like knitting and weaving.
  Improved affordability

Renewable energy projects can lead to energy cost savings for residents,
which can free up resources for other needs.

 Changing political relations

As some nations end their reliance on others for energy, international

political relations may change.

 Marginalized groups

When renewable energy projects are built in rural areas, marginalized

groups may be less likely to be consulted or informed about the project,
which could put them at risk of losing control over land and resources.

Renewable energy can have a positive impact on the economy in a

number of ways, including:
 Job creation

The transition to renewable energy can create millions of jobs, including in

solar panel installation, wind turbine service, research and development,
and facilities construction. These new jobs can provide opportunities for
people who work in the fossil fuel industry, which is expected to decline.

 GDP growth

Renewable energy can contribute to global GDP growth. For example, in

2023, clean energy accounted for 10% of global GDP growth, adding
around $320 billion to the world economy.

 Economic ripple effects

Renewable energy can create positive economic ripple effects, benefiting

industries in the supply chain, local businesses, and local governments. For
example, landowners who host wind projects can receive lease payments,
and local governments can benefit from property and income taxes.

 Cost reductions

Renewable energy technologies can lead to big price reductions.

  Pollution reductions

Renewable energy can help reduce pollution, especially when closing power
plants near big cities.

 Resilience

Renewable energy sources like wind and solar panels can be more resilient
than sources that depend on the world's politics.

The political impact of renewable energy is significant, affecting

energy supply, security, and the role of government:
 Energy supply and security

Renewable energy can help reduce reliance on imported fossil fuels, which
can improve energy security.

 Economic development

Renewable energy can create jobs, business opportunities, and tax

revenue. It can also help revitalize struggling communities.

 Geopolitics

Renewable energy can accommodate new powers in the international

political system, which can help reduce geopolitical risks.

 Energy distribution

The transition to renewable energy may shift energy security concerns

from energy resources to energy distribution.

 Political constituency

The distributed model of renewable energy can build a stronger political

constituency that supports renewable energy.

 Government policies

Governments can promote renewable energy through policies and

incentives, such as funding for research and development.
  Political drivers

Political factors, such as the lobbying power of the manufacturing industry

and the quality of governance, can influence the deployment of renewable
energy.

The Indian government has implemented several initiatives to

support renewable energy, aiming to reduce reliance on fossil
fuels and address climate change. Key measures include:

1. National Solar Mission: Aimed at promoting solar energy generation, it

sets ambitious targets for solar power capacity.

2. Wind Energy Policies: The government has introduced policies to

encourage wind power development, including financial incentives and
streamlined approvals.

3. Renewable Purchase Obligations (RPO): Mandates that state electricity

distribution companies buy a certain percentage of their power from
renewable sources.

4. Incentives and Subsidies: Financial incentives, such as capital subsidies

for solar projects, and tax benefits for renewable energy investments.

5. International Cooperation: Partnerships with other countries and

organizations to foster technology transfer and investment in renewable
energy projects.

6. Green Energy Corridors: Development of infrastructure to support the

integration of renewable energy into the grid.
7. Net Metering Policies: Allowing consumers to generate their own
renewable energy and sell excess back to the grid.

These efforts align with India's goal of achieving 500 GW of non-

fossil fuel-based energy capacity by 2030.

Vision-

The future of renewable energy in India looks promising, driven

by several key factors:

1. Ambitious Targets: India aims to achieve 500 GW of non-fossil fuel

energy capacity by 2030 and is committed to net-zero emissions by 2070.

2. Technological Advancements: Continued innovation in solar, wind, and

battery storage technologies will enhance efficiency and reduce costs.

3. Investment Opportunities: Increasing foreign and domestic investment

in renewable energy projects, supported by favorable policies and
incentives.

4. Decentralized Energy Solutions: Growth in rooftop solar and microgrid

projects, particularly in rural areas, improving energy access.
5. Policy Support: Ongoing government initiatives, such as the National
Hydrogen Mission and green energy corridors, will facilitate renewable
integration into the grid.

6. Public Awareness and Demand: Rising awareness of climate change and

sustainable practices among consumers will drive demand for renewable
energy solutions.

7. International Collaboration: Partnerships for technology transfer and

funding will bolster India's renewable energy capabilities.

Overall, with continued commitment and investment, renewable

energy is set to play a crucial role in India’s energy landscape and
economic growth.

Bibliography-

 International journal of renewable energy research

(IJRER).

The journal that aims to promote knowledge of renewable energy

technologies and resources. It publishes important result from
research, development, and design in the field of renewable
energy.

 International Mining and Resources Conference (IMARC)

IMARC Group is a global management consulting firm. It
provide to all that need timely, affordable information and advice.

 India Renewable energy growth: Solar growth and Wind

Power (IBEF)

Https://www.ibef.org.

 Https://mnre.gov.in – Ministry of new and Renewable

Energy.

 Https://investindia.gov.in – Invest India.

THANK YOU.