Topic in news :- According to IISD (International Institute of Sustainable Development) study, Shifting from fossil fuels to renewable energy sources could trigger financial challenges for developing countries like India, Russia, Brazil & China.

Important Points to be noted:-

  • India is a net importer of petroleum products but it also earns revenues – via cesses, taxes from the consumption of petrol, diesel & oil.
  • Public revenues from fossils fuel production and consumption currently account 18% in India.

 What is renewable energy?

A renewable energy means energy that is sustainable – something that can’t run out, or is endless, like the solar, wind, hydro, tidal etc. Renewable energy is also referred to as  ‘alternative energy’. It means sources of energy that are alternative to the most commonly used non-renewable energy sources – like coal, crude oil etc. Renewable sources are sustainable, abundant, and environmentally friendly. Unlike fossil fuels, they are not going to expire soon as they are constantly replenished.

The most popular renewable energy sources currently are:

  •         Solar energy
  •         Wind energy
  •         Hydro energy
  •         Tidal energy
  •         Geothermal energy
  •         Biomass energy

Advantages of renewable energy

  • Renewable energy will never run out :– Renewables energy resources come straight from the environment. The sun, the wind, the tide, the Earth’s core will never run out. They are sustainable and abundant natural resources.
  • Renewables save money and provide profitability :- Renewable energy is cost savings and resources available free of cost to all. Harnessing the power of the sun and wind provides for hundreds of thousands in savings.
  • Reduce carbon footprint :- Renewable sources of energy don’t release carbon dioxide or other harmful pollutants into the atmosphere. Hence it will reduce carbon footprint.
  • Reduce dependence on foreign energy sources :- Renewable energy is local energy. Those countries utilising renewable energy could become self-reliant & reduce their dependence on foreign energy sources.

Limitations of renewable energy 

  • High initial capital investment for renewable energy :- Manufacture, building, planning and installation of solar panels, wind turbines, hydroelectricity plants and other facilities required a huge capital investment.
  • Geographic limitations of renewable energy :- Renewable energy totally depends upon geographic location. Example:- For solar energy in India states like Gujarat, Rajasthan are more suitable as compared to H.P, Uttarakhand. Renewable energy is totally dependent upon the weather, variations in the weather are also not suitable for renewable technology.

 India initiative for the promotion of Renewable energy

  • International Solar Alliance (ISA) :- ISA was announced by Mr. Narendra Modi, the Hon’ble Prime Minister of India and Mr. Francois Hollande, former Hon’ble President of France on 30th November 2015, at the 21st session of United Nations Climate Change Conference of the Parties (COP-21) in Paris, France. It is a treaty-based international intergovernmental organization, having aims of mobilizing more than USD 1000 billion of investment needed by 2030 for the massive deployment of solar energy. ISA’s objective is to scale up solar energy, reduce the cost of solar power generation through aggregation of demand for solar finance, technologies, innovation, research and development, and capacity building.
  • Nationally Determined Contributions (NDCs), India had committed to achieving 40% of its installed electricity capacity from non-fossil energy sources by 2030. India has achieved this target in November 2021 itself. The country’s installed Renewable Energy (RE) capacity stands at 150.54 GW (solar: 48.55 GW, wind: 40.03 GW, Small hydro Power: 4.83, Bio-power: 10.62, Large Hydro: 46.51 GW) as on 30.11.2021.
  • Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM): To provide energy and water security, de-dieselise the farm sector and also generate additional income for farmers by producing solar power, Government launched PM-KUSUM Scheme for farmers. The Scheme consists of three components: Component A: Installation of 10,000 MW of Decentralized Grid Connected Solar Power Plants each of capacity up to 2 MW. Component B: Setting up of 20 lakh standalone Solar Powered Agriculture Pumps. Component C: Solarisation of 15 Lakh existing Grid-connected Agriculture Pumps

Plutus IAS Daily Current Affairs Hindi med 11th July

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