With recent major investment in renewable energy, India is on track to generate 3/4 of its energy demand from renewable sources by 2050. This feat is even more remarkable considering the size of the country, the varied terrain and climate and the sheer size of population and population growth.
New Delhi: India will generate 75 per cent of its overall electricity from renewable energy, according to Bloomberg New Energy Finance ( BNEF ). Of this, 34 per cent would come from solar energy and 32 per cent from wind energy . Wind and solar energy are set to surge to almost 50 per cent of world generation by 2050 — on the back of the precipitous reduction of cost, and the advent of cheaper batteries that would enable electricity to be stored and discharged to meet shift in demand and supply, stated Bloomberg New Energy Outlook 2018 report, released by BNEF on Friday “We project that cheap renewable energy and batteries would reshape the entire electricity system. Looking ahead, we see new power generation assets growing, the cost of wind energy to come down significantly and renewable to supply 62 per cent electricity in China and 75 per net in India by 2050. Asia Pacific is recording almost as much investment in power plants as the rest of the world combined with China seeing 49 per cent and India 29 per cent of the total regional investment, ” said Shantanu Jaiswal, head of India research, BNEF He further […]