Despite growth in use and huge potential to harness green energy; and rising FDI, we need to do something about coal import policy to enhance green installations
Energy deficient population in India : 237 mn people do not have access to electricity and around 841 million still use dirty biomass for cooking(using firewood, agri-waste, cow dung or other forms of biomass).
Per capita energy use in India : 1149 kilowatt-hour (Kwh) in the grid connected area, which is . 655,162 MW including the off-grid areas also is accounted. . Total installed capacity of the country stood at 344,718 MW. Gap = 310,444 MW
Commitment for renewable energy
In the recently concluded 21st Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) held at Paris, France, India committed to achieve about 40 per cent cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030 with the help of transfer of technology and low cost international finance including from Green Climate Fund (GCF).
Another 40,000 MW will be installed from non-fossil fuel.
Other goals along with SDG goal 7
The Sustainable Development Goal no. 7 sets to ‘Affordable and Clean energy’ as one of the goals for the global development agenda which aims to correct this enormous imbalance by ensuring everyone has access to affordable, reliable, and modern energy services by the year 2030.
SDG Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all
- By 2030, ensure universal access to affordable, reliable and modern energy services
- By 2030, increase substantially the share of renewable energy in the global energy mix
By 2030, double the global rate of improvement in energy efficiency
- By 2030, enhance international cooperation to facilitate access to clean energy research and technology, including renewable energy, energy efficiency and advanced and cleaner fossil-fuel technology, and promote investment in energy infrastructure and clean energy technology
- By 2030, expand infrastructure and upgrade technology for supplying modern and sustainable energy services for all in developing countries, in particular least developed countries, small island developing States, and land-locked developing countries, in accordance with their respective programmes of support
Microfinance and energy access
Microfinance and energy access seem like natural companions. Access to clean energy needs finance and Microfinance Institutions (MFIs) already have a customer base that may be deprived of clean energy sources.
Rise of other solar investment