Assessment of renewable energy trends & policy landscape in India: through the lens of start-ups

Abstract

Due to rapid urbanization and industrialization, the consumption of electricity is increasing continuously. To achieve energy security for long-term, the installed capacity has to be increased at the same pace (800GW by 2031–32). The installed capacity of India which is currently 310 GW (Fig1) is expected to grow by more than 200% by 2030-2032. Additionally, India has significant potential for generation from renewable energy sources. All efforts are being taken to harness this potential. The Installed capacity as on 31st March 2016 from renewable energy sources is 42,849 MW (Fig 2). The 11% contribution of Biomass to renewable energy comes mainly from the agricultural sector. Current production of crop residue biomass is 686 MT out of which 34% are estimated as surplus for bioenergy generation. Sugarcane accounts for the highest amount of residue followed by the rice. The annual bioenergy production is equivalent to 17% of India’s total primary energy consumption coming from the surplus crop residue mass producing 4.15 EJ. While looking to reduce fossil fuel use to reduce GHG emissions, India faces a tough task in meeting its energy needs from renewable sources with other major issues such as poverty and population. India aims to achieve 175 GW of renewable energy by 2022.