“The fundamental goal of renewable energy deployment is to promote economic development, improve energy security, increase energy access, and reduce climate change. Sustainable development can be achieved through the use of renewable energy and assuring citizens' access to inexpensive, reliable, sustainable, and contemporary energy. The government has created regulations, programmes, and a welcoming atmosphere in order to attract international investment and rapidly expand the country's renewable energy market.

Renewable energy is becoming more plentiful and less expensive. However, the rate and character of its expansion will differ significantly between markets. Getting to 90 percent decarbonization is generally technically achievable, but it can cost more in some cases.

READ MORE :- https://www.pukkapartners.com/insight/sustainability-in-the-energy-sector-is-a-boon-for-the-world-economy

Global primary energy consumption forecast

A source of energy is a requirement for socioeconomic progress. In recent decades, the rapid economic growth of developing countries has resulted in an increase in energy consumption. This tendency is expected to continue. The investigation of appropriate environmental and economic policies requires a projection of future power usage. Similarly, a forecast of future power usage aids in determining future renewable energy investments. Energy supply and security have become critical challenges not only for human society's progress, but also for global political and economic processes.

Energy Transformation's Side Effects

Despite the cost, value, trade, economic activity, and tax revenue reductions that can be expected from the energy sector, the energy transformation is likely to benefit the wider economy and society in ways that are difficult to quantify and not reflected in economic statistics. This is not only because the money saved on energy supply can be put to greater use elsewhere, but also because of the following:

The entire cost of the industry's damages will decrease; external costs, including as an overheated planet and a legacy of radioactive waste that must be kept secure and maintained for thousands of future generations, will cease to rise;
Apart from climate change mitigation, the energy transformation has numerous co-benefits, such as pollution control and environmental protection, habitat conservation and protection, economic and fiscal, social, ethical and governance, and foreign affairs and security policy.
The transition to electricity as the primary energy carrier will aid in the creation of additional value beyond what was previously feasible with chemical and thermal energy derived from fossil fuels.
Major Market Highlights:

Alterra was purchased by Innergex. Two geothermal facilities in Iceland were part of the deal. This acquisition increased its renewable energy portfolio by 485 MW (gross 1,049 MW).
Through its subsidiary BLP Energy Private Limited, Enel won India's first renewable energy tender. Enel is anticipated to invest $290 billion in the wind farm's construction. The facility is expected to start producing renewable energy in the second half of 2019, with a capacity of 1,000 GWh. This growth has bolstered the company's position in India's renewable energy sector.




Email / Call Us at :
[email protected]
APAC: +91 70226 21355
United States: +1 858 939 9252