If we look onto India’s transition over the past few years, it has been very dynamic in the field of energy sector. The trends are very significant if we see the energy subsidies given over the years. It has declined over the years substantially from 2014 to 2016 from nearly an estimate of about 2,16,408 crore INR to 1,33,841 crore INR. India is using various methodologies to redirect its energy composition in the form of various incentives, regulated energy prices and other forms of government support.
India is also moving forward in the field of renewable as per the guidelines set by the UN under the Sustainable Development Goals that are to be achieved in respect of clean energy, as indicated by goal number 7. The subsidies that are being offered by the government has substantially increased in the field of renewable energy sector by an estimate figure of about 2,607 crore INR in the year 2014 to about 9,311 crore INR in 2016 which is nearly three times as the year 2014.
With respect to coal, it was seen that the government was providing nearly 18 no. of subsidies to both coal mining as well as coal consumption, predominantly in the generation of power. The subsidies in this sector saw a significant decline from an estimate of 15,791 crore INR to 14,979 crore INR from 2014 to 2016.
Furthermore, it is predicted that in the coming years India can achieve the target of nearly 30% of variable renewable energy generation comprising of both solar and wind energy and a target of about 45% of zero carbon emission, which will be including hydro and nuclear energy. By the year 2030 it is assumed that the cost of wind and solar energy will vary between the prices of around 2.3-2.6 Rs/kWh and 1.9-2.3 Rs/kWh.
Thus from the statistics it is evident that the transition in the energy sector of India has been occurring at a dynamic pace and it is constantly changing with a viewpoint to incorporate more of renewable energy for the clean & healthy, effluent free environment.