Investsment in renewable energy program by developed nations

The following article is based on my own interpretation of the said events. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Sujoy Nandy, MBA 2015-17, Vinod Gupta School of Management, IIT Kharagpur


 

Renewable energy is the energy obtained from naturally replenished sources like sunlight,waves,tides,wind etc. Renewable energy sources present a significant opportunity for energy efficiency as they exist over a vast landscape in contrast to other conventional sources which are concentrated on few geographical areas. Renewable energy sources are environment friendly sources as they do not pollute the atmosphere unlike the fossil fuel burnings. They are used in multiple ways like as in power generation, heating, transportation etc.
Recently India has said that developed nations of the world should encourage renewable energy programmes. India has launched the world’s largest renewable program and a very small part of it for Indian manufacturers. Participation and encouragement of developed nations in this regard is a must. WTO had recently said that the Indian government’s power purchase agreements with solar firms were inconsistent with international norms. US too had alleged that India’s solar power mission were discriminatory in nature.India had come to New York for signing the Paris agreement with confidence that finally collective wisdom will prevail and all the countries will do their part.
We observe that if and only if the developed nations which have more carbon emissions take steps to participate in the usage of renewable sources,then only any collective agreement will stand. The developed nations too should tax their coal and other conventional source to reduce the carbon footprints. Every step to protect the climate has a cost and this cost has to be borne by all. Due to the growing global warming and pollution, developed nations should not leave any stone unturned to invest in renewable sources because the developed world has caused the climate change of today because of their 100 years of relentless carbon emissions. So the responsibility is also more for the developed nations requiring them to achieve more targets.

References: http://economictimes.indiatimes.com/news/politics-and-nation/developed-nations-should-encourage-renewable-energy-programmes-india/articleshow/51938388.cms

 

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