It’s a big thing when your country is contributing in the best fashion to the most attention needed issue for the world right now. With the natural sources of energy depleting with time, it’s the call of nature to replace everything with renewable energy. India by following the same is now at the 3rd spot after America and China, according to a ‘Renewable Energy Country Attractiveness Index’ by Ernst and Young.
Considering the current environment scenarios of the world, Indian government has been working hard to achieve good and the results have been great. EY stated, “This is primarily due to strong focus of the Indian government on renewable energy coupled with the actual timely implementation of renewable energy projects.”
It’s not that India realized the importance now, because initially it was just India and China who were attractive enough to enter this particular index and others followed.
EYs’ Kuljit Singh, Partner of Infrastructure practice, said, “As is the case with India, the wind continues to be at a pricing premium to solar in rest of the world but both these technologies are racing towards grid parity which may lead to not so desirable consequences for traditional utility business models.”