A Parametric Investigation of Factors Influencing India’s Renewable Energy Transition

Abstract

Climate change has occurred as an established phenomenon with paramount ecological effects. Being the third largest emitter of carbon emission, India is among the first developing nation to have set the carbon neutrality target to combat climate change. In the realm of its burgeoning population and rising energy demand, the reliance on renewable energy is vital and has become a necessity. The present study digs deeper into the analysis of renewable energy parameters for the period spanning from 2000 to 2021.  It reveals certain ups and downs in REC and REG, a continuous increase in carbon emission and GDP, and a reduction in energy intensity and carbon intensity over the period of 2000 to 2021. However, it is quite clear that the percentage of renewable electricity production is more or less increasing which signals a ‘greener electricity’. Further, the enhanced energy efficiency is quite discernible from gradual decline in both carbon intensity and energy intensity which signifies a transition towards clean energy goal set out under SDG-6.The paper paves a way for policymakers to implement more sustainable use of non-fossilized energy along with newer renewable energy tools and technologies to provide better incentives for its development.