IREDA Navratna Status: Advancing India’s Renewable Energy Future

IREDA Navratna Status

IREDA Navratna Status is an initiative introduced by the government of India. IREDA also referred to as the Indian Renewable Energy Development Agency was introduced in 1987. The initiative plays an essential role in promoting and financing renewable energy projects throughout India.

The Indian government awarded and introduced IREDA the respected Navratna status in appreciation and honor of its exceptional performance and strategic development or significance in the country’s energy sector. It is very beneficial and did many good things for the country mainly in its energy sector.

The initiative is very beneficial for the citizens of India as well. In addition to recognizing and appreciating IREDA’s earlier success and accomplishments, this status gives it the ability and opportunity to control the coming future of renewable energy in India and that too more courage, dynamically, and ambitiously.

 

 

Purpose of Renewable Energy Development Agency

India is considered to have a surplus of renewable energy because of its difficult geography. It is crucial to develop previously unknown next-generation technologies for wave, solar, water power, and wind electricity production to fully use this varied range of renewable energy.

The Renewable Energy Development Organization is a general registered association that strives to explore hidden renewable energy sources in the region and encourages natural energy developments. The agency aims to help create a safe, secure, and wealthy energy society “for the sake of future generations and children” by advancing India’s domestic natural energy resources.

To encourage the widespread and ethical utilization of renewable energy sources (such as solar, wind, biomass, geothermal energy, hydropower, and marine energy), the Renewable Energy Agency was founded. Its primary functions include assessing, comprehending, and systematizing the usage of renewable energy, offering policy guidance, and assisting our nation in building its capability. It was formally founded in India.

 

 

Advantages of the Indian Renewable Energy Development Agency

Utilizing the natural energy of the soil offers numerous advantages. The primary advantages consist of:

  • Sources of energy never run out.
  • Low emissions of greenhouse gases
  • Everywhere in the world may easily obtain energy, regardless of the source.
  • The production of garbage and hazardous materials that were earlier produced such as burning facility ash and radioactive waste will decrease.
  • Facilities are designed simply, in contrast to conventional power plants. This also lowers the cost of repairs.
  • Since there are so many facilities, even a little issue in a few locations will not have a significant effect. This can shorten the time that energy is stopped continuously, which is helpful during emergencies, etc.
  • It is an expenditure of money that differs from conventional power generating, so supply and demand will apply, and the industry will grow into manufacturing. The fact that it never runs out, after all, is the most essential aspect.

Do you know about the “peak oil theory,” which predicts that oil may run out in 40 years if we keep going at this rate? The limited availability of other commodities, like coal, energy, and natural gas, is something we rarely hear frequently these days.

Therefore, there will be no reason for concern regarding the depletion of resources if renewable energy were to be broadly utilized, which would have enormous long-term benefits. Furthermore, it may be argued that this energy fits into the global environmental conservation effort promoted by the Sustainable Development Goals because it is environmentally friendly.

 

 

Types of Renewable Energy:-

Renewable energy is understood to include “solar energy, wind turbines, as well as additional forms of energy that are defined by government regulation as being acknowledged or capable to be utilized permanently as a power source.” Below are some specific types:

Solar power: Sunlight exposure of silicon semiconductors produces electricity. You can make use of dead areas, such as roofs and empty lots.

Wind-power generation: Use the force of the wind to turn windmills to produce electricity. It has excellent power-generating capacity and may be utilized on a big scale.

Hydroelectric power: A windmill is turned and electricity is produced by the force of flowing water. It is acceptable to generate stable power independent of the climate or weather.

Biomass power generation: It is a technique that uses wood fuel and waste products like animal dung to power turbines. Biomass fuel is a form of thermal power generation, however, it can be regarded as a renewable energy source because it collects the same amount of CO2 as it releases during combustion.

Geothermal power generation: This method uses the water vapor that magma’s heat produces to create electricity. It is capable of producing electricity continuously.

Solar heat utilization: Hot water and space heating are provided by the solar thermal energy that is gathered in a collector. It can be placed in even the smallest residences and is incredibly energy-efficient.

Usage of snow and ice heat: In the winter, snow and ice are stored, and in the summer, they are used as a supply of cold energy for refrigerators and coolers. It is now possible to make good use of the snow and ice that were previously removed at significant expenses.

Temperature difference heat: An approach that makes use of the variation in temperature across the air outside and a water source, like a river or groundwater. Summertime brings cooler temperatures, thus people use water sources for things like cooling. However, since the air is warmer in the winter compared to it outside, it is utilized for hot water and heating.

Geothermal use: In the summer, the subsurface temperature is higher than that of the outside air, and in the winter, it is lower. A technique for heating and cooling using this temperature difference.

Easily Accessible: Renewable energy, as previously developed, uses natural resources including sunshine, wind, and geothermal energy. It never runs out and is therefore easier to safeguard than fossil fuels. The globe is currently facing an issue with the growing uncertainty regarding fossil fuels. The skyrocketing cost is especially concerning.

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