Green energy, also known as renewable energy, is a form of energy derived from natural resources that are constantly replenished and do not deplete, unlike fossil fuels. These resources include wind, solar, hydropower, geothermal, and biomass. The use of this energy helps to reduce the carbon footprint and mitigate the effects of climate change.
Green energy is an essential component of India's strategy for sustainable development. With a strong focus on economic development, energy security, and climate change mitigation, the country has implemented policies and programs to promote the use of renewable energy. The renewable energy market in India has attracted significant foreign investments, and the sector is expected to create domestic jobs. Despite challenges, the country has made significant achievements in the generation of electricity from these energy sources. Overall, India's emphasis on green energy presents both challenges and opportunities, and the country is well-positioned to become a leader in the renewable energy sector.
Green energy is an essential component of sustainable growth because it provides a source of energy that is renewable, reliable, and environmentally friendly.
Here are some ways that such energy is used to promote sustainable growth:
There are several trends that are likely to shape the future of green energy use. Here are some of the most important ones:
Overall, the future of green energy use looks bright, with continued advances in technology and increasing public awareness of the benefits of renewable energy sources.
To facilitate the transition towards green energy’s growth, policymakers need to create favorable conditions for markets to operate. This involves establishing robust regulatory frameworks that eliminate obstacles to green investments, providing incentives to promote green economic activity, and regulating environmentally harmful practices through standards or command and control regulations. Additionally, reforming or eliminating subsidies that do not align with green growth goals, directing public spending towards procurement methods that encourage the development of green products and services, and investing in infrastructure to facilitate large-scale transformations in energy and transportation systems are necessary.
Environmental taxes and market-based instruments can be employed to ensure a level playing field, influence consumer behavior, and encourage innovation. Education, training, and capacity-building initiatives should also be implemented to gain industry and public support for low-carbon energy systems. International governance in areas that regulate economic activity, such as trade law and multilateral environment agreements, should be strengthened to promote a global transition to green growth.
Resurgent India Limited is a well-regarded financial advisory firm located in India, and has been designated as a Category I Merchant Bank by the Securities and Exchange Board of India (SEBI). The company offers a broad range of financial services, such as private equity, debt solutions for various projects, funding solutions for green energy projects, mergers and acquisitions, structured finance, capital market solutions, transaction advisory, valuations, enterprise risk management, tax services, and training, to cater to the diverse needs of its clients.