New Delhi, Nov 16 (IANS) A renewable energy policy consistent with long−term objectives can help India build up a Rs.54,000−crore renewable energy industry, and generate up to 24 lakh jobs by 2020, said a report released by Greenpeace Friday.
The report 'Indian Energy Revolution − a roadmap to secure India's growing energy needs without having to depend on the depleting and polluting fossil fuels' − has been jointly drafted by the Global Wind Energy Council (GWEC) and the European Renewable Energy Council (EREC).
It focuses on the socio−economic impacts of renewable energy and proposes the pathway to ensure India's energy security in the long run.
"The job generation potential of renewable energy and energy efficiency domains can be two to three times that of conventional energy, for example coal and oil," the report said.
"Currently, India's renewable energy industry employs two lakh people. However, this can be jumped to 14 times by 2030 if energy revolution pathway is taken. In the next eight years itself, 24 lakh new jobs will be created in the renewable energy sector if proper investments are made," it said.
According to the report, India's future growth depends on massive expansion and deployment of renewable energy technologies through key policy reforms and significant investments, without impacting its pristine forests and dependent marginalised communities.
"Recent electricity grid failure and severe power shortage due to rising electricity demand constantly reminds us that coal and other fossil fuels have no future and their era of dominance is over.
"There is no cheap coal available without destroying forests, displacing people and wild animals and it is a heavy price to pay without any guarantee to meet the growing demand," said Abhishek Pratap, senior energy campaigner, Greenpeace India.
"A transition to renewable energy is the best and the only option for the government to secure the future growth of our nation." he added.
The report says the shift to renewable energy will save around one−fourth of India's energy spending in the long run.