Indian clean energy sector has made its entry into the top 10 clean energy investment list among the G-20 countries. G-20 group solely account for 90% of global clean energy finance and investment in the world. This investment accounts for $ 4 billion in 2010 and helps to secure 10th rank among the members of G-20 countries. As per the report (Who’s Winning the Clean Energy Race? 2010 Edition) published by the Pew Charitable Trusts, Indian renewable energy sector also ranked 10th for five-year growth rates for renewable energy capacity, and 7th worldwide in the amount of installed capacity. India’s national policies for renewable energy sector like Jawaharlal Nehru National Solar Mission- JNNSM with other clean energy encouragement policies that create long-term certainty for investors have led foundation for this increasing growth.
JNNSM solely have target of deploying 20 gigawatts of solar generating capacity by 2020. JNNSM is triggered by a national policy under the National Action Plan on Climate Change (NAPCC). It sets target of 15% of the energy should come from Renewable Energy sector till 2020.
Global clean energy finance and investment expanded in 2010 to $243 billion. It shows 30 % growth from the previous year. Following graph shows top four countries and their global clean energy investments;
Tenth position in the list of Global clean energy investment is satisfying news for developing country like India. Government’s efforts and private investments have made this possible. We hope, consistence efforts in clean energy sector will bring upward position in years ahead.
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