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The Indian New Energy Division has improved considerably, and India ranks third in the world’s renewable energy index. India is fifth in wind power plants and fifth in solar energy. India is also fourth in renewable power capacity from 2020. The department is attractive from an investor’s point of view. There are many renewable energy companies in India, and the government aims to reach 15,820 TWh by 2040. Thus, renewable energy plays an important role in developing the future. The government aims to realise 227 GW of renewable energy capabilities by 2022.
What Do You Mean by New Energy?
Renewable energy or new energy is the energy obtained from renewable resources replenished over time. There are two primary resources of power today: renewable and non-renewable energy.
- Non-renewable energy uses coal, oil, and herbal gas to power businesses.
- Renewable power assets encompass carbon-impartial assets, including rain, waves, tides, geothermal heat, wind, and sunlight. There is a high demand for renewable energy to lower the effects of global warming.
Highest Renewable Energy-Producing State In India
Recognising the importance of renewable energy in India’s overall energy mix, the Government of India, under the Prime Minister’s Office, launched the National Climate Change Action Program in 2008. As part of this plan, the Government of India has set a goal to increase renewable power production to 175 GW by 2022.
Tamil Nadu is the highest renewable energy-producing state in India, according to the Survey of Central Electricity Authority in September 2013. The total renewable energy capacity of Tamil Nadu is 7,491 MW, where wind energy is dominant.
Importance of Renewable Energy
Renewable energy has many benefits. They include the benefits of wind, solar, biomass, hydropower, and geothermal energy.
- Reduces global warming: Daily human activity releases carbon dioxide and other harmful gases that trap heat, leading to a rise in temperatures. Unlike non-renewable energy sources, renewable energy like solar or wind power produces almost zero harmful emissions. Thus, it plays a pivotal role in lowering global warming.
- Creates job opportunities: Many people can be employed in the renewable energy industry, and increasing renewable energy production creates demand for labour, creating employment opportunities for the public.
- Benefits to public health: Non-renewable sources pollute the air and water, giving rise to neurological disorders, cardiac diseases, cancer, and pulmonary conditions. However, energy from renewable sources is clean and does not pose a threat to health.
Renewable Energy Companies in India
Many companies in India have contributed to energy renewal innovations and startups. Some renewable energy companies in India are discussed below.
- TATA Solar Power: TATA solar power is India’s largest solar power company. There are three separate business units: solar cells and modules, engineering, procurement and construction (EPC), and other solar products. It offers a special solution of custom made to the various fields such as education, banks, medical, and telecom. TATA solar power operates in both urban and rural areas.
- ReNew Power: ReNew Power acts as an independent power producer. The company is committed to producing non-conventional energy from solar and wind power. We sell electricity to Indian state-owned power companies and large companies. Founded in 2011 and put into operation in 2012, it launched its first project in Jasdan, Gujarat, with a production capacity of 25.20 MW.
- Suzlon Energy: It is one of India’s leading renewable power companies. Its facility spans the complete lifestyles of wind power projects. It designs, develops, and manufactures wind turbine generators (WTGs). It also gives allied servicing, presenting a sturdy presence throughout the wind strength fee chain.
Conclusion
Renewable energy plays an important role in the development of a clean and green future. The government, as well as India’s renewable energy companies, are striving for consistent production and use of 100% renewable energy. Social equity will be an important factor in future renewable energy procurement.
Scoop 3 emissions will also reduce with an increase in the usage of clean energy. Innovation will also be significantly improved as companies are forced to improve their renewable energy industry.
