oil

There is ample evidence of underproduction of renewable energy across the world, in spite of there being the necessary resources to produce RE, including technology and finance. It seems politicians and law-makers have yet to be persuaded about the importance of renewable energy to solve the problem of energy security and sustainable development and to act on it seriously. As a matter of fact, renewable energy sectoral investment is highly correlated to the international oil price movement.

The reduction of global carbon emissions is now widely regarded as paramount if the world is to avoid major negative consequences throughout the course of the next century. Current levels of c. 380 parts per million (ppm), represent both a record high and an unprecedentedly rapid rise (by 30 ppm in just 17 years). To avoid adverse consequences - and possible catastrophe - experts believe that urgent action must be taken now to limit peak CO2 to 450 ppm.

India, China and Brazil are emerging as the stalwarts in the renewable energy of the developing world.

While India is facing an acute energy scarcity which is hampering its industrial growth and economic progress, it has become essential to tackle the energy crisis through judicious utilization of abundant the renewable energy resources, such as biomass energy, solar energy, wind energy and geothermal energy.