Research Article
Andrew J Apostoli and William
Abstract
India is confronted with the arduous challenge of supplying accessible and affordable energy to help alleviate poverty and meet energy demands that is necessary for economic growth. This task is exacerbated by a growing global environmental consciousness due to climate change and its impacts in both the environmental and socioeconomic realm. India is striving to meet energy needs while being cognizant about climate change by advocating sustainable energy alternatives to fossil fuels and adopting ambitious targets for reducing greenhouse gas emissions through climate change policies. This review addresses and exposes the challenges India is faced with in abolishing its energy crisis and increasing its economic growth while being environmentally responsible and judicious. First, an introduction to the problem by explaining India’s current situation will offer a basis for understanding the extent to which both socioeconomic and environmental factors have on decision making and finding the appropriate solution. Second, an overview of India’s energy and climate policies are provided along with their objectives and targets in meeting both energy demands while reducing greenhouse gas emissions through the adoption of renewable energy sources. Third, financial instruments employed by India to encourage the promotion and innovation of renewable energy and discourage the use of conventional sources is discussed. Lastly, India’s renewable energy potential and capacity is explored through various energy sources. The research reveals that India’s continued use of conventional energy sources is both unsustainable and environmentally destructive in meeting energy demands, instead, the research suggests the encouragement of the use of renewable energy sources by mandating environmental and energy policies and employing monetary incentives to increase its share in the energy grid and promote its implementation. Despite setting very ambitious goals, India will need to be assertive in promoting renewable energy technologies for a sustainable future, which is possible owing to its generous potential.