Renewable energy investments helped mitigate West Asia crisis impact, says PM Modi
Prime Minister Narendra Modi stated that India's focus on clean energy over the last decade protected economic growth from the West Asia crisis.
Prime Minister Narendra Modi said on Monday that India's economic growth remained high despite the West Asia crisis because of investments in clean energy. Speaking at the inauguration of the Bharat Renewable Energy Summit at Bharat Mandapam, the Prime Minister noted that the crisis highlighted the connection between energy and economic security, according to the Times of India.
Modi stated that the global crisis sends a message that relying too heavily on fossil fuels leads to repeated disruptions in the global economy. He said that India has already reached nearly 300GW of non-fossil installed power capacity, which is more than 50 per cent of the country's total capacity.
The Prime Minister said the country is working towards adding 500GW of non-fossil energy capacity over the next 10 to 11 years. He also encouraged the development of a movement for clean cooking to decrease the need for imported gas and suggested that households could use rooftop solar power for cooking and charging electric vehicles.
India's clean energy sector could provide investment opportunities of more than Rs 20 lakh crore by the end of the decade. The Times of India reported that more than Rs 15 lakh crore had been invested in the sector over the last decade, including Rs 6 lakh crore in the past two years.
Modi mentioned schemes like PM Surya Ghar Muft Bijli Yojana and PM-Kusum as ways India is integrating solar power into daily life. He urged farmers to install panels on vacant land or field boundaries to become energy producers.
