In today’s rapidly evolving energy landscape, the importance of renewable energy sources is
unprecedented. Faced with the challenges of global warming, new technologies, climate change,
dwindling natural resources and increasing energy consumption, renewable energy/non-
conventional energy is a ray of hope for a sustainable future. The importance of renewable
energy or non-conventional energy sources is recognized globally by every country. That is why
every country is trying to find out how and in what manner these energy sources can be used.
India also launched the India Energy Week Conference in previous years, the second conference
was held at Betul in Goa from February 6 to 9, 2024. The aim of the conference was to ensure
accessibility, safety and clean energy for citizens. This article highlights the importance of
renewable energy/non-conventional energy sources and reviews the efforts being made by India.
Renewable energy is energy that does not run out. Those from natural sources often have a low-
or zero-carbon footprint and are typically free. Examples of renewable energy sources include
wind power, solar power, bioenergy (burned organic matter as fuel) and hydroelectricity, tidal
power. These renewable energy sources are of unique importance.
Environmental benefits
One of the most attractive benefits of renewable energy is its ability to positively impact the
environment. Fossil fuels such as coal, oil and gas account for about 75% of global greenhouse
gas emissions. To combat the threat of climate change, emissions must be cut by almost half by
2030. As we face the dire consequences of climate change, switching to renewable energy
becomes not only beneficial but imperative. Knowing the importance of renewable energy
sources to protect our environment for future generations, not only the government but also the
organizations working for environmental protection and the public should pay maximum
attention and increase its use. This is why a provision of Rs 11 lakh crore has been made for
infrastructure in the interim budget. A major portion of this amount will be given to the energy
sector. This amount will be used for development in energy-intensive sectors such as railways,
roads, waterways, airways or housing. Also, 300 units of solar energy will be provided free of
cost to the public.
Economic Growth
The importance of renewable energy in the economic sector is evident from its contribution to
employment generation and industry growth. As the demand for renewable energy increases, job
opportunities in its production and maintenance sectors also increase. This not only boosts the
economy but also creates sustainable employment opportunities. Furthermore, the importance of
renewable energy in boosting local economies cannot be overlooked. Local projects often mean
local jobs, allowing the benefits of renewable energy projects to be felt directly within the
community. According to the International Renewable Energy Agency, worldwide employment
in this sector increased by nearly 7 lakh in 2020-2021, with 12.7 million people employed.
Moreover, India alone has decided to install 500 GW of energy from non-fossil fuels (renewable
energy + nuclear energy) by 2030 and increase employment generation from it.
Energy Independence
The need for renewable energy stems from the desire for energy independence. Countries that
rely heavily on imported fossil fuels are vulnerable to price fluctuations and supply disruptions.
Renewable energy sources are mainly used locally. By investing in renewable energy in the
future, nations can ensure a more stable, reliable and independent energy supply while protecting
their energy security. “India has emerged as one of the global leaders in the energy transition and
the progress it is making in the renewable energy sector is remarkable. India has taken the lead in
this by setting up the World Solar Energy Forum followed by the Global Biofuels Alliance. This
topic is as much related to the environment as it is to the economy. It is as much about building
the foundations of a strong bio economy as it is about renewable energy options, including
biofuels. That is why the energy transition in 2024 will boost the bio economy for India,
according to the 'India Bioeconomy Report-2023; the size of our country’s bioeconomy has
grown by 29 percent to over $137 billion in 2022. Bioeconomy accounts for 4% of our country’s
Gross National Product (GDP). It is estimated to double by 2030. Biofuel sector is set to grow
the fastest. It is estimated that the share of bioservice sector will remain below that.
Reduction in energy costs
The benefits of renewable energy are also in our wallets. As technology advances and becomes
more widespread, the costs associated with renewable energy continue to decline. The
importance of renewable energy cannot be understated to ensure affordable energy for all. As
prices continue to fall, more people will have access to clean, renewable energy. We have twelve
months of sun. In that case, investment in solar energy storage batteries and its distribution
network will be preferable. That is why the funding for Solar Power Grid; has been doubled to
promote solar power generation in the country. Last year, the provision for Solar Power Grid
was approximately Rs 4,970 crore, this year this provision has been increased to Rs 8,500 crore.
Countries like Yemen, Australia, New Zealand and Norway are working on non-conventional
energy sources. These options could reduce rising electricity prices worldwide by 50 percent.
Health benefits
The importance of renewable energy is also evident in the health benefits it offers. Conventional
fossil fuels release pollutants that can cause many health problems, from respiratory problems to
cardiovascular disease. According to the World Health Organization (WHO), about 99 percent of
people around the world breathe polluted air and pose health risks, and more than 13 million
people die every year from preventable environmental causes such as air pollution. Transitioning
to renewable energy can reduce these health risks. As the air becomes cleaner, the population
underlines the need for healthy, renewable energy. A program has been introduced to promote
green energy from the point of view of sustainable development of the country. Along with green
and clean energy generation, solar energy, green hydrogen mission, offshore wind energy, green
technology, green credit program have been encouraged in the budget. Last year, Rs 297 crore
was allocated for power generation through; Green Hydrogen Mission; under the Green
Development Programmed. This year this provision has been almost doubled and it has been
increased to Rs 600 crore this year. To promote green energy, offshore wind energy generation
projects will be supported along the sea coast. These projects aim to generate one gig watt of
energy and financial provision has been made for it. Because India has a rich coastline on both
sides and it can be used for wind power generation.
Diversification of energy sources
The benefits of renewable energy also lie in the diversification of energy sources. Relying on
only one power source is dangerous. Renewable energy offers a diverse energy portfolio,
ensuring a stable supply of other energy sources even if one source faces challenges. This
diversity is important for energy security and stability, which underlines the importance of
renewable energy sources.
Addressing climate change
The importance of renewable energy in tackling climate change is paramount. As global
temperatures rise and the effects of climate change become more apparent, the need for
renewable energy becomes more urgent. By reducing carbon emissions and promoting
sustainable energy solutions, we can combat the adverse effects of climate change, ensuring a
safer planet for future generations.
Overall, all countries are working towards circularizing supply chains in renewable/non-
conventional energy sources, solar energy, bio-products and bio-services to accelerate the
creation of a circular bio-economy. India is a country of young population. We need to pave the
way for equipping this youth with a foundation of Science, Technology, Engineering and
Mathematics (STEM) education. If so, it will be an opportunity for renewable energy to flourish
in a crisis from mineral energy and biotechnology to flourish in a time of technological
challenges. We have to bring about sustainable development and the transformation to become a
developed country.
Published by: Grace Ladies Global Writers Forum
On 18th March 2024
Copyright 2024 Grace Ladies Global Academy