Secretary Anand Kumar of India’s Ministry of New and Renewable Resources announced plans to add 500 gigawatts of renewable energy by the year 2030. The goal is to lessen India’s dependency on coal and increase the use of sustainable energy sources like solar, geothermal and hydro power, while also reducing overall energy consumption and waste. India is currently the world’s third leading producer of greenhouse gases, and making the switch to renewable energy will reduce emissions and improve overall air quality. Home and business owners across the country can maximize the benefits of increased renewable energy sources and take personal responsibility to lower greenhouse gas emissions.
Heating and Power Sources for Homes
The addition of renewable energy sources to India’s power grid expands the possibilities of future home construction and gives current homeowners more options for powering their residences. While more and more commercial buildings adapt solar power, residential homes account for only 9% of rooftop solar panel use in the country. By connecting home energy systems, like solar panels, to the power grid, more sustainable energy is being brought onto the grid, and homes can continue to receive energy when solar power is not available. The majority of homes in India are still powered and heated by coal. Although natural gas is also a fossil fuel, it is a favoured source of power from electric suppliers as it offers a cleaner alternative to coal when it comes to heating homes Natural gas produces 50-60% less carbon emissions, making it a more sustainable option until renewable energy sources become more easily accessible
The Impact of Renewable Energy on Businesses
Renewable energy sources can help reduce costs and meet unmet energy demands in both the private and business sectors. With greater efficiency and lower costs, renewable energy benefits the bottom line for any business model. Clean energy will also reduce health care costs and job absenteeism. Currently, 77% of people in India are exposed to levels of air pollution that exceed the National Ambient Air Quality’s safety limits, and poor air quality contributes to a large percentage of disease throughout India. New projects to build the technology needed for creating sustainable energy will also benefit numerous sectors of industry, including land development, construction and sales of building materials.
How the Energy Sector of the Economy Will Change
As the government’s initiative to increase renewable energy sources gets underway, energy companies are bidding on projects to make plans manifest. Public sector companies such as the Solar Energy Corporation of India, Power Finance Corporation and the National Hydroelectric Power Corporation are collaborating with state governments to acquire land and install the technology to establish renewable energy projects. These projects are attracting major investments from international corporations, providing jobs and burgeoning a new and profitable industry.
As India move away from its dependence on coal and towards sustainable energy sources, the country will see a number of economic, health and environmental benefits. As the government seeks to meet its goal of adding renewable energy sources to the power grid, individual citizens and private businesses can support these efforts by adapting practices to conserve energy on a daily basis. Sustainability is a collaborative effort, and we must all work together to achieve a better future for our planet.