India can raise its renewable energy use to meet a quarter of the country's total final energy demand by 2030, according to the findings of the report »Renewable energy prospects for India« presented by the International Renewable Energy Agency (IRENA). Solar energy will play a vital role representing the second largest source of renewable energy use with 16 percent, followed by wind at 14 percent, and hydropower at 7 percent of the country’s total final renewable energy use by 2030. Biofuels - which can be used across the end demand spectrum, such as for transport, electricity generation and heating - would account for 62 percent, says IRENA.
According to the study, increasing renewable energy deployment could save the economy twelve times more than its costs by the year 2030. Furthermore, the renewable energy technologies identified in the report would lower the demand for coal and oil products between 17 and 23 percent by 2030, compared to a business as usual scenario.
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