The Stone Age didn’t end for lack of stone, and the oil age will end long before the world runs out of oil.”
You can burn oil and produce energy whenever you want. But that’s not the case with renewables, which are dependent on external factors and whose created energies cannot be stored as extensively. This is what fundamentally differentiates oil from renewable sources.
But the installation of solar plants and wind farms have nevertheless increased exponentially.
India gets as many as 300 clear sunny days per year, has at least a dozen perennial rivers and a coastline that is over 7500 kilometres long. Sadly, though these are excellent sources of renewable energy, India has not been able to tap into other renewable sources of energy over the years.
The reasons for this are two-fold:
1. The cost of exploiting these sources have historically been higher than fossil fuels
2. Even in the best of scenarios, supply is intermittent and storage unaffordable
But these challenges have to be overcome soon. Today, India is the fourth largest carbon emitter in the world. The population in Indian cities will reach as high as half a billion over the next ten years, increasing our energy requirements manifold. These have to be met in a sustainable manner – for all of our sakes.
And we have already taken steps in that direction. India is committed to utilizing non-fossil sources for more than 40% of its installed electricity capacity by 2030. Towards this, the medium-term target is to produce 100GW from solar, 60GW from wind, 10GW from biomass and 5GW from small hydropower by 2022.
Towards this, the deployment of energy storage in India is expected to grow over 40 per cent annually over the next 10 years.
Through the fulfilment of these initiatives, it is anticipated that India would not only become self-reliant in the energy storage sector but also could become a world leader in the technology.
Reference: The Better India