Need for Ocean Energy Policies in India for Future power requirements
Keywords:
Ocean Energy, OTEC, Indian Power sector, PolicyAbstract
To counter the challenges of climate change and energy security, policy makers and governments around the world are promoting the development of sustainable energy. Expected to grow as the fastest economy in the world, import dependent Indian economy is expected to import more oil in the near future. India’s oil imports have increased substantially every year thus draining huge amount of foreign exchange reserves($ 149 Billion in 2014-15) of the country(MoPNG, 2016).Energy from Ocean, especially OTEC (Ocean Thermal Energy Conversion), offer several advantages and considered to promote and sustain energy security. OTEC offers a solution to the energy crisis. Much of the work is not done in India with regarding to Policy or Technology. OTEC can be considered keeping in the view of increasing demand for unreliable renewable energy and energy sources. This paper provides a summary of how OTEC can be a possible solution to India’s power sector major challenges such as low CUF, fossil fuel import charges, land requirement, water requirement, R&R issue, intermittency, back up of base load in case of solar and wind, additional job opportunity etc.The need for an OTEC policy in India is explained by the data and learning from European countries.
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