Empirical Analyses of Renewable  Energy in India: Effects on Current Trends

K M Sri Gururaghavendra; T Rajendra Prasad

doi:10.34293/economics.v12i3.7691

K M Sri Gururaghavendra Research Scholar, Department of Economics, Jnana Bharathi Campus, Bangalore University, Bangalore, Karnataka, India https://orcid.org/0009-0008-6153-8548
T Rajendra Prasad Senior Professor, Department of Economics, Jnana Bharathi Campus, Bangalore University, Bangalore, Karnataka, India

DOI: https://doi.org/10.34293/economics.v12i3.7691

Keywords: Corban Emission, Fossil Energy, Renewable Energy, Hydrozoan Sustainable Development, Biomass, Power Generation

Abstract

The study highlights renewable energy’s crucial role in India’s sustainable growth. Renewable energy is derived from natural resources that are replenished more than consumed. India is the third-largest consumer of energy in the world and fourth globally in installed renewable energy capacity, with 163 giga watts. The southern region is a major contributor to renewable energy with 50282.92 megawatts than other regions. Wind source is the highest energy generator than other renewable sources,and India is currently facing a significant energy challenge. With a population of over 1.3 billion, energy demand is continually increasing. Finally, the percentage of renewable energy in total power generation climbed significantly increased from 15.38 percent in 2015 to 20.49 percent in 2022. Therefore, renewable energy has a big impact on India’s sustainable development.