Why some countries love renewable energies
They are enabling sustainability faster than anyone else.
What is Renewable Energies?
WhatIs defines renewable energy as that which can be easily and quickly replenished after consumption by a natural process, and in most cases is influenced either directly or indirectly by solar energy.
In other words, it is any form of energy which is available abundantly and can be produced naturally without altering Earth’s natural mechanisms, thus enabling sustainable living.
Well-known examples of renewable energies are those derived from the sun, wind, tides, geothermal, and more. Although there are limitations associated with each type, many countries are focused on the large-scale adoption of these renewable energies.
Countries that love renewables.
The Climate Reality Project is a global group of climate-conscious individuals. They were brought together by Al Gore, a Nobel laureate and former US vice-president. He enabled mass consciousness on raising climatic changes in his Academy Award-winning documentary, An Inconvenient Truth, in 2016. He reported that Sweden, Costa Rica, Nicaragua, Scotland, Germany, Uruguay, Denmark, China, Morocco, the USA, Kenya were aggressively adopting renewable energy, and shared a mutual love for renewables.
Later, in 2017, China Daily reported that the UK, Mexico, Chile, Japan, France, Australia, and India had joined the league of climate-conscious countries. The report stated that these countries were transforming their existing dependencies on non-renewable energies, which were harmful to the Earth, into renewable energies that favour sustainable living.
Interestingly, the Ministry of New and Renewable Energy (MNRE) announced that India, in 2017, became the fourth largest producer of energy through wind. As of 2018, many more countries are keen on joining this league.
Policies for renewable energy adoption.
One of the more serious efforts to encourage large-scale adoption of renewable energies was taken by the European Union, in 2009. This boosted the number of renewable energy favouring member countries. Each member had to comply with the agreed-upon targets. However, they were free to strategise and implement measures to realise their individual goals.
As per the EU Climate Hub, many mechanisms were laid out to achieve the individual and group targets within the stipulated timelines. They were as follows.
● Feed-in tariff
● Feed-in premiums
● Tradable Green Certificate Quota
● Loan assurance
● Investment assurance
● Tax reliefs and benefits
These mechanisms have been impactful in the mission to increase the adoption of renewable energies in the EU. Member countries have become the ambassadors for a sustainable living using renewable energy.
Interestingly, prior to the EU’s policy, India, under the supervision of the Ministry of New and Renewable Energy, had introduced the National Tariff Policy (NTP), in 2006. According to the NTP, state electricity boards were expected to purchase a fixed minimum quantity of renewable energy for distribution, called the Renewable Purchase Obligation (RPO). After the amendment of this policy in 2011, the RPO for solar energy was to increase from 0.25% to 3% by the year 2022, and that for overall renewable energies to 15%.
Even though policies have been implemented, the technology revamps themselves pose a challenge for developing countries like India.
Most developed countries have joined the league of climate-conscious countries. Sustainable living can be achieved when all the developing countries join as well.
India is at the forefront of the adoption of renewable energies with a multitude of policies in place. The challenges most of the developing countries, including India, face are the various costs involved viz., infrastructural development, operative costs, cost of adoption, cost of generation, cost of transmission, and cost of consumption.
If these mechanisms are made more efficient, the associated costs will come down, thereby increasing the rate of adoption.
Although difficult, this is achievable, provided the developed countries positively guide and support the rest to achieve adoption and sustenance; because sustainable living via renewable energy is the only way forward.
Written by Anoop Bhargav, Business Development Team Lead, Vee Technologies