How ‘Boom Energy’ is changing the world
Energy and renewable energy companies are working to transform India into a boom-time energy superpower, with India being the only country in the world where this is happening at scale.
Here is what you need to know about this booming sector.1.
What is ‘Billion-Dollar Billion-Dollars’ (BBD)?BBD stands for “billion-dollar investment.”
It refers to a project or activity that costs more than its market value.
BBD projects range from renewable energy projects to high-speed rail to biofuels and even new nuclear power plants.2.
What are the biggest boom-times?
The growth of renewable energy in India has been exponential.
The country is now home to the world’s second largest solar PV capacity, with 1,543 megawatts (MW) installed, more than double the amount of solar power that was installed in 2015, according to the United Nations.3.
What happens to wind and solar in India?
Wind and solar are both natural resources that are abundant and can be harnessed by governments.
The Indian government’s plan to harness wind and to provide a stable and cheap supply of electricity is also a sign that renewables are gaining momentum in the country.4.
What kind of boom-timing are we seeing?
India’s economic growth has been slowing, especially for energy-intensive sectors like cement and steel, and that has meant that a lot of energy-related projects have gone belly-up.
This has resulted in a shortage of clean energy and the emergence of ‘boom-time’ energy projects.5.
What can boom-Time energy do for India?
In a boom time, energy is created through a series of economic activities.
In a ‘boo-time,’ it can be created through the creation of new sources of energy, new industries, or new technologies.BBD projects like wind farms in Maharashtra, and solar panels on rooftops in Delhi, can create jobs, provide jobs to the local population, and generate revenue for the local economy.
The boom-and-bust cycle of energy in Indian economy is very different to that of the rest of the world.
The BBD boom is a time of disruption and transformation, but there is also hope for energy reform.