An Investigation on the Prospects, Challenges and Policy Consequences of Renewable Energy Technology Development for India’s Environmental Sustainability

Abstract

This study aims to comprehensively analyze the status and prospects of renewable energies in India. India ranks third globally in terms of renewable energy production. India’s population and economic growth are fueling increasing energy demand. Renewable energy has emerged as a viable solution for addressing the energy crisis and environmental issues, replacing fossil fuels. The Indian government is actively promoting and pursuing large-scale renewable energy projects as part of its commitment to increase the utilization of renewable energies. This paper analyzes the complexities of India’s renewable energy industry, focusing on its substantial growth and the government’s proactive efforts to promote a greener energy mix. By 2023, renewable energy sources constituted over 40% of India’s overall energy capacity, amounting to approximately 169 GW. The figure comprises 64 GW of solar electricity, 52 GW of hydropower, 42 GW of wind energy, and 11 GW of biofuels. Rajasthan possesses the greatest potential for renewable energy in India, representing approximately 20% of the nation’s overall capacity. The article explores the interdependent relationship between renewable energies and Sustainable Development Goals (SDGs), such as poverty reduction, gender equality, improved health, and environmental preservation. The research not only presents empirical data on India’s renewable energy capabilities but also offers policy recommendations to facilitate a transition from fossil fuels to renewable energies. These recommendations address economic, social, and environmental aspects. The article outlines a strategic plan for India’s sustainable energy future, emphasizing the importance of robust government regulations, private sector investments, international collaboration, and public awareness initiatives. This study contributes to the ongoing discussion on renewable energy adoption in India by providing a strategic and practical framework. This study provides valuable insights for policymakers, researchers, and industry competitors regarding energy transition and environmental sustainability.