Bloomberg New Energy Finance has released a new analysis that states that India led the world in 2011 for green power growth. Creating a 52% growth by investing $10.3 billion,India has shown the world its interest in the growth of ecofriendly power generation.
For power consumption,India still depends on fossil fuel. But the problems of limited resources and environmental pollution by fossil fuels have given a thrust to the search for alternative energy generating methods using renewable resources.
India leading in the fore front is of course a good thing as even the smaller changes can bring massive differences due to its vast population. Though the toxic legacy of the global financial crisis continued to cast a shadow over the world renewable energy market, new investment in clean energy inIndiareached unprecedented levels in 2011.
India’s investment in renewable energy last year amounted to 4% of all investment in clean energy made worldwide.
Power projects based on biomass plantation have the potential to offer new avenues of employment through collection, storage, handling and utilization of biomass materials especially in rural areas, promote rural industries and generate rural employment.
It may be said that over the next ten years, there will be a progressive shift towards hybrid and plug-in electric vehicles and bio-fuels will account for a larger share of energy mix.
With huge investments in green energy, India has successfully hit 2 targets with one bullet – eco-friendliness and an added number of job opportunities.
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