Renewable Energy Financing Indian Experience

摘要

Renewable energy technologies based on the inexhaustible resources of sunlight, wind, water and biomass are considered to offer sustainable energy alternatives to a world beset by serious environmental problems and volatile fossil fuel politics. Despite the somewhat checkered progress of renewables in the last three decades, they continue to hold a prominent place in various national and international agendas, including the global climate change negotiation processes, as choices that could lead the world towards sustainable development. Throughout human civilization, energy has been one of the prime movers of economic development. An increasing share of global energy needs is expected to be met by renewables in the years ahead. Energy forecasts for the European Union and the United States indicate this share to reach about 12 percent by the year 2010. International estimates suggest that renewables would contribute about one-quarter to one-half of the world's primary energy supply by 2050; and by that year, two of the world's largest petroleum companies expect renewables to account for over 50 percent of their turnover. Renewables have enormous potential to meet the growing energy requirements of the increasing population of the developing world, while offering sustainable solutions to the global threats of climate change.