ESSAY

India is developing economy with a very high rate of GDP, around 8% (check this) with an
consumer base of more than 1 billion people indian economy is perceived as the potential
lucrative market for budding business sector like renewable energy.Also, there exist various
renewable energy support initiatives, program and policies to encourage renewable energy
sector development; and in recent years an eminent growth is observed in RE sector.
Also,by 2035 India's projected usage making them 2nd largest contributor on global energy
map. Hence renewable energy plays a significant role in the energy sector in india as an
alternate to conventional energy sources (e.g coal). In this essay we are going to discuss
how india as country has greater potential prospects for renewable energy business.
Renewable energy is esteemed as the future of energy and India is working in that course
with its different approaches. The ministry of new and renewable energy has come up
with various policies that would be executed in the following few years and these will
upgrade India's renewable energy status. The innovative work stage has officially passed
and the execution of some policies are underway. Given the diverse approaches and
motivating force bundles propelled by the legislature to pull in interest in the division,
renewable energy in India is certain to develop at an extraordinary pace. The essential base
has been set up that will encourage the future of renewable energy in the nation.Some
outstanding advancements have been made in the development , field trials and
commercialisation of several renewable energy technologies[renewable energy,vol-15]
.India's renewable energy endeavour started in the 1970s and have accumulated pace
with the developing acknowledgment that renewable energy is not something that India
can do without(Comprehensive analysis on the Indian Renewable Energy Sector."feb 3,2012) .India is one of the few
nations to have set up an autonomous ministry to look after the development of renewable
energy("Renewable Energy Market in India."Feb. 3, 2012 ).
The Ministry of New and Renewable Energy is the power that dispatches the different plans
and activities to articulate the renewable energy development and to see that the plans
are legitimately used for the profit of the country. MNRE has proposed numerous plans
that will focus the eventual future of renewable energy in India. These undertakings will
secure a legitimate development method later on for the abuse of the immense capability of
renewable wellsprings of energy in the nation. There is a lot of renewable energy potential
that could be created with assistance from the impetus plans launched by the ministry.
The government has arranged various undertakings that would be propelled in the following
few years and these will upgrade India's renewable energy status. The innovative work
stage has officially passed and the execution of tasks is underway. Given the diverse
strategies and motivator bundles dispatched by the legislature to draw in interest in the
division, renewable energy in India is sure to develop at an uncommon pace. The essential
foundation has been set up that will encourage the eventual future of renewable energy in
the country(reference).
Indian government gives various benefits to renewable energy ventures, for example, no
requirement for industrial clearence,availability of loan,excisise obligation exemtion,customs
obligation concession,final backing to renewable energy projects,income assessment
holiday,accelerated depreciation,preferential tariffs,interest and capital subsidy,energy
purchase back and outsider deal and trading(reference).at the same time the government
is likewise wanting to diminish the capital expense of renewable energy ventures so more
organizations can put resources into the sector.to Fulfill this point the administration is
trying to choose the most recent and suitable technologies in the area and practice healthy
practise among the players.A direct effect of theses advancements made by the government
has increased the level of investments in this sector in India.India is one of the few
countries to have set up an autonomous ministry to control and determine the development
of renewable energy industry in India.
The ministry of new and renewable energy is the power that dispatches the different plans
and undertakings to articulate the renewable energy growth(reference).and to see that
plans and activities are legitimately used for the profit of the nation.the ministry of new and
renewable energy has proposed numerous plans that will focus on the future of renewable
energy in India. these activities will secure a development methodology later on for the
maximum utilisation of all the resources available in the country,there is a lot of renewable
energy potential that could be produced with the assistance from the motivating incentive
schemes launched by the ministry.
Currently,India is quickly turning into one of the world's most alluring markets for
Renewable energy investments.India's ascent has been because of the successful
arrangement and administrative backing for improvement of Renewable energy
technologies(RETs).various policy measures,like accelerated depreciation,feed-in
Tariffs,Generation Based Incentives(GBI),renewable purchase obligations(RPO) and
Renewable Energy Certificates(REC) have helped in the fast development of renewable
energy sending in the nation.
Australia has an exceptionally solid mechanical and financial base; it is the twelfth biggest
national economy ostensible GDP (CIA factbook).Australia has the potential for vast
renewable energy capabilities, though these capabilities are not yet fully realised and the
countries abundant resources are underutilised at present renewable energy resources only
contribute to 8-10%of the total Energy supply in australia.
Australia has been rendered as being remarkably rich in natural resources it has
an abundant amount of natural resources like wind energy,hydro energy,solar
energy,geothermal energy etc. (Garnaut 2007).Despite possessing a very large potential
of renewable energy sources, Australia has lagged behind other developed countries in
embracing renewable energy.
Australia is an elected parliamentary majority rules system comprising of Federal, State
and the local governments, all of which have distinct, yet overlapping jurisdiction.Due
to which it becomes really difficult to structure a united policy between the jurisdiction
given competing priority issues between the state and the federal.This lack of harmony
between the federal and the state government creates a lot of political barriers for the
smooth execution of policies and plans. It is exceptionally hard to accomplish united policy
structure between purviews given contending needs between the state and the national
government.This political barrier also slows down the process of developing projects to form
a renewable national targets,which creates policy uncertainty which creates disruption in
finance of the program.And the there are some financial barriers like there is no taxpayer
subsidies available and the whole financial liability have to carried by the developer with no
government funding.Investors are faced with high capital cost.So the initial capital is too
much for the investors to handle which is one of the reasons why investors are hesitant to
invest in australian renewable energy sector. Other than political and financial barriers there
are some other authoritative obstacles like lengthy regulatory support and grant systems,
non transparency and immoderate strategies.
And there is still a lack of social acceptance.


CONCLUSION :
India has a broad potential endowment of potential in the renewable energy sector.The
success of the renewable energy sector is to an extent because of the government policies
and the various subsidies and tax benefits that it has come up with.It has given various
benefits like availabity of loan,excise duty exemtiopn etc,which has promoted a lot of
foreign investments in the Indian renewable energy sector.
A large number of domestic companies have taken advantage of the scenario and have
already established themselves in the international market.A lot of foreign industries have
realized that they can fill in the technology gap that india is facing and have stepped in to
invest in the Indian renewable energy sector.
The government has ventured up interest in Renewable energy and development sector
and the local groups and entrepreneurs have not lagged behind ensuring that they ride
the renewable energy wave people have likewise not lagged behind guaranteeing that they
ride the 'renewable vitality wave' and India's expansive pool of specialized labor has helped
in this respect.