Impact of Policies & Regulations on Renewable Energy Future

Abstract

Renewable energy is playing a pivotal role in meeting ever growing demand for electricity and at the same time addressing the issues related to global warming. Almost all countries are focusing on implementation of renewable energy sources . The renewable energy policies and regulations are not only being evolved and implemented at country level but also at global level through international organisations such as IRENA and think tanks such as International solar Alliance(ISA). The government of India’s Ministry of New and Renewable Energy has taken the initiative and formulated a policy framework to promote & integrate Hybrid Energy Systems. International collaboration are also being promoted in the coming years, to make the world achieve net zero emissions by 2070. The government organisations are facilitating knowledge sharing between different pilot projects. The implementation of Smart Grids has their ability to facilitate the extended deployment of renewable energy and provide cost savings for all users along the energy value chain. One of the steps the Indian government took to make use of renewable energy sources in the country was to create off-grid power generation systems using solar PV panels. Numerous associations have recognized environmentally friendly renewable energy as an appropriate response to non-renewable energy consumption and environmental change. It has moved the energy industry toward eco-friendly and renewable energy frameworks in recent years.