List of Business Opportunities in Green Power and Renewable Energy Sector.

Description:

List of Business Opportunities in Green Power and Renewable Energy Sector.

Renewable Energy Sector, Green Power, Solar Energy, Biofuel, Hydroelectric, Wind, Geothermal, Biomass, Non-conventional Energy, New and Renewable Energy Projects

The Indian renewable energy sector is the second most attractive renewable energy market in the world.1 The country ranks fourth in the world in terms of total installed wind power capacity.2 India added 11.788 GW of power generation capacity from renewable sources between January – November 2017. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role.

Green power is a subset of renewable energy and represents those renewable energy resources and technologies that provide the highest environmental benefit. EPA defines green power as electricity produced from solar, wind, geothermal, biogas, eligible biomass, and low-impact small hydroelectric sources.

With a potential capacity of 363 gigawatts (GW) and with policies focused on the renewable energy sector, Northern India is expected to become the hub for renewable energy in India.3

India has the fifth largest power generation portfolio in the world and its current renewable energy contribution stands at 44.812 GW which includes 27.441 GW of Wind power and 8.062 GW of Solar power installed capacity in the country. (As on 31.07.2016).Fourth largest installed capacity of wind power. Third largest installed capacity of concentrated solar power (CSP) Renewable energy contributes 14.7% of the total installed capacity in the country as on 31.07.2016.Ambitious target of 175 GW of renewable power by 2022 which will include 100 GW of Solar power, 60 GW from wind power, 10 GW from biomass power and 5 GW from small hydro power.

With increasing focus of the government on development of renewable energy sector, solar power products market in India is on the verge of expansion. Target for solar power generation capacity in the country has been set at 100 GW by 2022 and this is anticipated to increase development of solar power products in India. Government provides incentives and subsidies for solar power products such as solar pumps and solar lanterns, thereby boosting their adoption across the country. Rising development of solar power generation projects is expected to aid in addressing the growing demand for electricity and in turn boost growth in the solar power products market through 2022.

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