India is fast emerging as a frontrunner in terms of harnessing renewable energy resources. It has been ranked No.1, on par with the US, in annual solar power generation, while it claims the fifth spot in wind power generation. India also makes it to a credible fourth position for scope, space and facilities allotted for renewable energy expansion.
In its survey (ended May 2009), Mc Kinsey & Company has stated that India has an annual solar energy yield of between 1,700-1,900 kWh/KWp of installed capacity, one of the world’s highest solar intensities.
As per the BP statistical review of world energy, India has been ranked No. 5 in the world, contributing about 8% of the total global wind energy. The other top contenders include the US (20.7%), Germany (19.6%), Spain (14%), China (6%) and Denmark (3%).
India again makes it to the fifth spot, in the Ernst & Young renewable energy country attractiveness indices. A survey which rates countries as per their regulatory environment, fiscal support, unexploited resources, suitability to different technologies among other factors that facilitate the growth of renewable energy in a country.
India’s index for development of renewable energy resources in hydropower sector makes it to the fourth spot in the global order behind the US, Germany and China. Similarly, the country’s development index in biomass is ranked third in the world after US and Germany, and ahead of countries like Italy, UK, France, Canada and Australia.
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