What factors contribute to the changing landscape of renewable energy sources in India
Analyze the key drivers propelling the growth of renewable energy and its impact on the power sector.
- Government Initiatives: The Indian government has set ambitious targets for renewable energy capacity, attracting investments and promoting the growth of the sector.
- Cost Competitiveness: The decreasing costs of solar and wind power technologies have made renewable energy more competitive against conventional sources.
- Energy Security: Diversifying the energy mix with renewables reduces the dependence on imported fossil fuels, enhancing energy security.
- Environmental Concerns: Growing concerns about climate change and air pollution have led to a global shift towards clean energy sources like solar and wind.
- Job Creation: The renewable energy sector has the potential to create jobs and boost economic growth in India.
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a year ago