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India is said to be one of the seven largest consumers of energy, but the growing gap between consumption and domestic output is a cause of concern. India’s share in global oil reserves is about 0.5 per cent, whereas its share in global consumption is about 3 per cent. India is still dependent to the extent of 30 to 35 per cent on non-commercial fuel sources like cowdung, firewood, agricultural waste, etc. The growing energy needs of the emerging economics, specifically India, risks enhanced environmental demage from conventional carbon based sources of energy. The pressure on petrol is mounting and we have to concentrate on conservation of petroleum. Towards conservation of petroleum consumption, the government has to ration supplies of cooking gas, kerosene and petrol; improve power generation; focus on alternative source of energy such as solar, wind and bio-fuels; setup energy standards for all vehicles and a mass awareness for conservation. As the country’s petroleum bill grows, and future supplies look volatile or insecure, alternatives need to be explored. Ethanol is an environment-friendly oxidant additive to gasoline. There is a growing interest in biodiesel or ethanol blend. Energy majors are determined to tap biofuels. Special attention is being paid to jatropha cultivation. The corporate sector too is focusing on the biofuels sector. It is estimated that globally about one million hectares would cater to biofuels over the next four years, with an estimated 300,000 hectares contributing each year to biofuels in South East Asia, India and Southern African countries. India will itself produce 2 million tones of biodiesel by 2012.

Power and Energy sector is in a positive mood and is leaving no missed opportunity to make hay of it, while the sun shines. India has set up a target of 20000 MW of installed capacity by 2022 for harnessing solar energy. It is leaving no stone unturned to become a solar hub in the world. With such earnest efforts, India’s mission to tap solar energy is not a pipe dream.

Renewable Energy technologies like solar, biomass, hydro, etc are deployed both in rural and urban areas to curb the growing gap between the demand and supply of power, which is due to increase in the per capita energy consumption and importantly, the much hyped climate change concerns. At 10464 MW, India presently ranks fifth in the world in wind power generations. The future of solar photovoltaic development in India seems to be very bright. India’s solar mission envisages the promotion of solar energy to harness and distribute environment-friendly power, available with high scalability, for sustainable economic growth by empowering national energy security.

Indian clean development mechanism projects broadly cover a range of sectors viz power generation from renewable energy, particularly wind and hydro power, biomass applications, waste heat and energy recycling. Accelerated growth is expected in renewable energy sector, particularly wind energy sector, solar energy sector, biofuels sector .etc with favourable conditions in terms of potential, technical support facilities, policy framework and regulatory environment, robust manufacturing base, and investors confidence in the country.

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