Renewable energy: The future of Indian economy?

March 26, 2013 - 1 minute read

Is the renewable energy sector the future of Indian economy? A report jointly commissioned by environmental group Greenpeace, the Global Wind Energy Council and the European Renewable Energy Council predicts that the renewable energy sector within India can create up to 2.4 million jobs by 2020. Not only can renewable energy sources be used to overcome the energy shortage in India, with correct policies and investments the sector can increase employment by 14 times by the year 2030. (India Energy [R]evolution report)

Renewable energy

According to Sven Teske, Senior Energy Expert from Greenpeace International, “It is a win-win strategy for India to combine security of energy supply and job creation.” Moreover, India is an ideal location for the development of renewable energy, especially solar energy, owing to the large number of sunny days it receives in a year. India should strive to be a global leader in the growing clean tech economy.  The numbers and benefits sound very promising but will this materialize? At this stage, it absolutely needs to. India’s dependence on fossil fuels is stunting its economic aspirations. Abhishek Pratap, the environmental group’s Senior Energy Campaigner in India, sums it up, “A transition to renewable energy is the best and only option for the government to secure the future growth of our nation.”