Will India transform to green energy country?
India’s Prime Minister Narendra Modiji made a series of pledges in Glasgow’s climate conference that, “if kept, will make his country a green-energy powerhouse. The most eye-catching was the promise that India would achieve ‘net-zero’ emissions of greenhouse gases (GHGS) by 2070. As per REN21 Renewable Global Report 2022, India stands 4th globally in Renewable Energy Installed capacity, 4th in Wind Power capacity, 4th in Solar Power capacity. To be precise, India ranks 4th in the world in terms of installed renewable energy capacity and India’s non-fossil fuel energy has grown by over 25% in the previous 7 years.
Here’s how India is readying with its moves. This is not the end. In fact it is just the earliest move in transforming India to a ‘sustainable world’. India is on a steady journey to unleash the potential of the ultimate sustainable products and solutions. From setting its eyes firmly to becoming key producers of renewable products, India has indeed invested huge. Thus, Indian Renewable Energy sector is booming compared to the energy market in the world. Well looking at the pace gained over the past few years, India is surely targeting for something higher and better. Therefore, India is the market with the fastest growth in renewable electricity, and by 2026 new capacity additions are expected to double.
In addition, India is undoubtedly receiving good support from the Government and improved economics. This initiative is further attracting investor’s perspectives. Point to be noted, India is expected to reach 15,820 TWh by 2040, so, renewable energy is setting its new standards and striking hard to play an important role. Alarming rate of unpredictable problems & concerns pertaining to environment and sudden climatic change has triggered people to gradually shift from fossil fuels to renewable sources to meet their needs. Therefore, many companies are effectively contributing in developing alternative technologies & supplementary technologies to replace fossil fuels with renewable resources like wind, solar, and hydroelectric.
These efforts by the Government, companies and investors are resulting instrumental in green energy transformation. The Indian stock exchange tracks the performance of green energy stocks via the S&P Greenx benchmark index. This index reflects the performance of the top 25 green energy stocks in India based on liquidity and market capitalization. In the last 5-yr, the S&P Greenx index gave a 61.62% return on its investment. It is very clear that green energy is the future. Day-by-day the renewable industry is developing slowly and accelerating its value and helping the Government to hit the goal of ‘zero emissions’ & ‘net zero’. So, the government is doing its part, companies have also been investing significant funds in the sector to boost progress and meet India’s target of reaching net zero emissions by 2070.
To conclude, in India, financing and investment on this sector is indeed increasing, signaling that we are moving towards green future, clean living. As a whole, sustainability is the engine of growth and the need of the hour which is fostering the concept, ‘out with the fossil fuels, in with the renewable energy’ by adapting this way of life, the future is screaming louder ‘Go Green & Clean’.
Here’s how India is readying with its moves. This is not the end. In fact it is just the earliest move in transforming India to a ‘sustainable world’. India is on a steady journey to unleash the potential of the ultimate sustainable products and solutions. From setting its eyes firmly to becoming key producers of renewable products, India has indeed invested huge. Thus, Indian Renewable Energy sector is booming compared to the energy market in the world. Well looking at the pace gained over the past few years, India is surely targeting for something higher and better. Therefore, India is the market with the fastest growth in renewable electricity, and by 2026 new capacity additions are expected to double.
In addition, India is undoubtedly receiving good support from the Government and improved economics. This initiative is further attracting investor’s perspectives. Point to be noted, India is expected to reach 15,820 TWh by 2040, so, renewable energy is setting its new standards and striking hard to play an important role. Alarming rate of unpredictable problems & concerns pertaining to environment and sudden climatic change has triggered people to gradually shift from fossil fuels to renewable sources to meet their needs. Therefore, many companies are effectively contributing in developing alternative technologies & supplementary technologies to replace fossil fuels with renewable resources like wind, solar, and hydroelectric.
These efforts by the Government, companies and investors are resulting instrumental in green energy transformation. The Indian stock exchange tracks the performance of green energy stocks via the S&P Greenx benchmark index. This index reflects the performance of the top 25 green energy stocks in India based on liquidity and market capitalization. In the last 5-yr, the S&P Greenx index gave a 61.62% return on its investment. It is very clear that green energy is the future. Day-by-day the renewable industry is developing slowly and accelerating its value and helping the Government to hit the goal of ‘zero emissions’ & ‘net zero’. So, the government is doing its part, companies have also been investing significant funds in the sector to boost progress and meet India’s target of reaching net zero emissions by 2070.
To conclude, in India, financing and investment on this sector is indeed increasing, signaling that we are moving towards green future, clean living. As a whole, sustainability is the engine of growth and the need of the hour which is fostering the concept, ‘out with the fossil fuels, in with the renewable energy’ by adapting this way of life, the future is screaming louder ‘Go Green & Clean’.
