REGIONAL ANALYSIS I INDIA
The sun is rising
A key driver for the global solar and PV industries will be the strength of emerging markets and the two largest countries in the world are the main growth areas but for different reasons. India is a land of contrasting opportunities for the industry and the Energy and Natural Resources division of KPMG discuss the key growth areas and issues for emerging possibilities in India.
T
he Indian economy faces significant challenges in terms of meeting its energy needs in the coming decade. The increasing energy requirements coupled with a slower than expected increase in domestic fuel production has meant that the extent of imports in energy mix is growing rapidly. Oil imports already constitute nearly 75 percent of our total oil consumption. Coal imports which were negligible a few years back are likely to rise to around 30 percent of the total coal requirement by 2017. Globally, there is intense competition for access to energy resources. This is a serious cause for concern as the Indian economy gets exposed to the global fuel supply market which is volatile and rising. Moreover, being amongst the top five greenhouse gas (GHG) emitters globally [1], India has a responsibility to achieve the growth trajectory in an environmentally sensitive and responsible manner. India has set a voluntary target to cut the emissions intensity of GDP by 20-25 percent by 2020 compared to the 2005 level.
In this backdrop, the thrust on renewable sources of energy is a step in the right direction. The Prime Minister’s National Action Plan on Climate Change (NAPCC) released in June, 2008 envisages meeting 15 percent of our power requirements from renewable energy sources by 2020. One of the eight missions under the NAPCC is the Jawaharlal Nehru National Solar Mission (JNNSM) which was launched in late 2009. The mission targets 22,000 MW of solar power by 2022. The first phase of the program has been initiated and projects amounting to 704 MW have already been allocated. The policy goals and the steps taken to achieve it have been in the right direction. We must
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www.solar-pv-management.com I Issue VIII 2011
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