Introduction
Making India a 5 trillion dollars economy from the existing 3 trillion dollars mark will require developing our industries at a much greater pace. The question is how to meet the energy requirement of this development while minimizing its environmental impact. We could either rely on fossil fuels to generate more power at the expense of the environment or we could develop renewable sources of power with little environmental impact. The answer is obviously renewable energy. Since, the power generation sector has always been heavily reliant on technology; it’s not a surprise that advanced technologies are making a big impact on renewable-energy too.
Historical perspective
Traditionally the emphasis has been on developing non renewable sources like coal, oil and gas to meet the growing energy demands of the economy. The major reason was low production cost and well established practices in the thermal power industry resulting in low grid prices. On the other hand, there was little motivation for public or private investment in R&D for renewables. This caused severe inefficiencies leading to high grid prices and low market uptake. This made the whole renewable energy sector economically unviable. That was the case till the turn of the millennium.
Table 1: Installed capacity of the three major renewables energy sources for 2009-2019.
Source: International Renewable Energy Agency (www. irena.org)
The data in table 1 is graphically depicted in chart 1.
Chart 1: Trend of Installed capacity mentioned in table 1 for 2009-2019.
Source: International Renewable Energy Agency (www. irena.org)
この記事は The Management Accountant の August 2020 版に掲載されています。
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この記事は The Management Accountant の August 2020 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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