India is next on our list of countries with the largest reported investments in renewable energy in 2010.
India has a vast supply of renewable energy resources, and it has one of the largest programs in the world for deploying renewable energy products and systems. It is the only country in the world to have an exclusive ministry for renewable energy development, the Ministry of Non-Conventional Energy Sources (MNES). Since its formation, the Ministry has launched one of the world’s largest and most ambitious programs on renewable energy.
Here are a few of India’s renewable energy policy plans (click for more information):
Foreign Investment Policy – Foreign investors can enter into a joint venture with an Indian partner for financial and/or technical collaboration and for setting up of RE-based power generation projects.
Industrial Policy – A five-year tax holiday is allowed for renewable energy power generation projects.
Soft loans are available through Indian Renewable Energy Development Agency for renewable energy equipment manufacturing.
Private sector companies can set up enterprises to operate as licensee or generating companies.
India’s energy consumption has been increasing at one of the fastest rates in the world due to population growth and economic development.
Primary commercial energy demand grew at the rate of 6% between 1981 and 2001.
Renewable Energy Availability
India is surpassed only by Germany as one of the world's fastest growing markets for wind energy.
India has an average annual temperature that ranges from 25°C – 27.5 °C. This means that India has huge solar potential.
In India, small hydro (less than 25 megawatts) is the most utilized renewable energy source for energy production.
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Stay tuned for more countries coming up!
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