Energy Choices of THIS COUNTRY will be critical for the planet says IEA chief
- Jan 23, 2020 5:32 pm GMT
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India is one of the world's fastest-growing major economy with 1.4bn population. Government of India has initiated a large-scale renewable energy action plan and promote the auction of oil and gas markets for foreign investors. Now the International Energy Agency recently published its maiden review of Energy Policy of India.
The National Institute for Transforming India, a government think-tank that helps plan and implement major policy initiative said that "India is working hard to move towards its aspirations of transforming the energy sector". IEA Executive Director Dr. Faith Birol presented the key findings of the IEA in-depth review of India's energy policies on Friday in New Delhi, where he said " The energy choices that India makes will be critical for Indian citizens as well as the future of the planet".
The report shows that the growth of renewable energy is very strong, which now accounts for almost 23 per cent of the country's total installed capacity. the share variable renewables in the energy in electricity generation are already above 15 per cent, a level that IEA says " calls for dedicated policies to ensure they integrate smoothly into the power system'.
Based on current policies, India's energy demand could double by 2040, with electricity demand potentially tripling as a result of increased appliances ownership and cooling needs. not only electricity but also oil demand to reach heights of all the time. in order to tackle this government should also focus on Bio-energy as a replacement of hazardous and costly fuels like petrol and diesel.