India’s rise to 3rd Largest Solar Market in 2017: What it entails for the Exchequer?

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Considering the fact that India is one of three countries that mutually contribute to more than 70 per cent of the global CO2 emissions, the step towards green energy transition was an imperative, and decisive action indeed. Besides saving the climate, India stands to save enormously from fossil fuel expenditure with the success of green energy revolution. By championing solar, India not just initiated an industrial reform, but positioned itself in the global energy market, standing to generate profit as the world phases out fossil fuel.

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Clash of Solar and Fossil Fuel: Why Solar Is Winning

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Even without covering the plethora of reasons that vouch for immediate renewable energy (especially solar) implementation as the mainstream energy source, we can build a case on the inarguable fact that ‘fossil fuels are non-renewable’. And since mankind has only begun building towards a perfect, sustainable, and progressive society, being dependent on an energy source that is limited (fossil fuel depletion predictions range from 50 to less than 150 years), doesn’t seem a smart choice!

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RENEWABLE ENERGY CAN USHER A NEW ERA OF JOBS AND ECONOMIC TRANSFORMATION

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The world is preoccupied today! We are too engrossed thinking about the minute details of our lives, trying to make everything better, and more convenient. However, in the process, we seem to have missed how parts of our social structure are falling apart. The population is rising more than ever (expected to reach 7.5 billion in 2017), and our social structure is failing to substantiate a promising life for the growing community. Unemployment has become a mammoth issue. In 2016, 197.7 million people globally, 38.6 million people in developed countries, and 143.4 million people in emerging countries were unemployed. And in 2017, the unemployment rate is expected to rise (5.7 to 5.8 per cent) by another 3.4 million. A grave economic situation, which is ballooning with no real solution in view!

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WHY DEVELOPING NATIONS ARE INVESTING IN RENEWABLE ENERGY MORE THAN RICH COUNTRIES

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Image courtesy: http://bit.ly/2khpgAx

 

In the race to create a better lifestyle, secured economy, and progressive social structure, a handful of countries have fared better than the rest. The reason behind could be the impact of the industrial revolution, natural resource availability, social awareness, or plain and simple agile business tactics. But, the result definitely sets countries like US, UK, Germany, Japan, apart from the likes of India, Africa, Brazil, Indonesia.

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