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Majority of the power generation in India is carried out by conventional energy sources, coal and fossil fuels being the primary ones, which contribute heavily to greenhouse gas emission and global warming. The Indian power sector is witnessing a revolution as excitement grips the nation about harnessing electricity from various renewable energy sources. Electricity generation from renewable sources is increasingly recognized to play an important role for the achievement of a variety of primary and secondary energy policy goals, such as improved diversity and security of energy supply, reduction of local pollutant and global greenhouse gas emissions, regional and rural development, and exploitation of opportunities for fostering social cohesion, value addition and employment generation at the local and regional level. This focuses the solution of the energy crisis on judicious utilization of abundant the renewable energy resources, such as biomass, solar, wind, geothermal and ocean tidal energy. This paper reviews the renewable energy scenario of India as well as extrapolates the future developments keeping in view the consumption, production and supply of power. Research, development, production and demonstration have been carried out enthusiastically in India to find a feasible solution to the perennial problem of power shortage for the past three decades. India has obtained application of a variety of renewable energy technologies for use in different sectors too. There are ample opportunities with favorable geology and geography with huge customer base and widening gap between demand and supply. Technological advancement, suitable regulatory policies, tax rebates, efficiency improvement in consequence to R&D efforts are the few pathways to energy and environment conservation and it will ensure that these large, clean resource bases are exploited as quickly and cost effectively as possible. This paper gives an overview of the potential renewable energy resources in Indian context while evaluating the present status, the energy demand of the country and forecast consumption and production, with the objective to evaluate and assess whether India can sustain its growth and its society with renewable resources. [ABSTRACT FROM AUTHOR]

Renewable energy can play a strategic role in India in meeting the country’s growing energy demands, as well as combating climate change. Policymakers have recognized this potential and over the last decade have intensified their efforts towards creating a conducive regulatory and policy framework. Policy instruments such as renewable obligations, feed-in-tariffs and generation based incentives have specially aided the transformation towards large scale generation, enabling higher efficiency and lower costs of generation. However, financing has emerged as a significant barrier for sustaining the momentum gained in recent years. Given this background this paper provides an overview on the evolution of large scale generation and the consequent changes in financing requirements. It further reviews the emerging trends and barriers in the financing landscape and analyses the impact of policy performance in this context. Finally, it considers the design of a national renewable finance framework complete with targeted finance push instruments that can complement existing demand pull policies in facilitating investment. [ABSTRACT FROM AUTHOR]