Financing Renewable Energy India

Financing renewable energy in India, like in most other places, is a constant juggling act choosing between cost and payback.

Most businesses in India tend to judge the viability of their ventures according to bottom lines. But they may have more choices than they know. Although they may be aware of renewable energy, not many know of the various financing renewable energy programs that are available to help them. Many also know that, in theory, renewable energy will save them money, but what is missing is someone to translate that into practical terms that tell them how much their energy costs will be cut once they switch to renewable energy sources such as solar power or wind energy. The good news is that the government of India is working to provide initiatives that will answer some of these questions.

The clean development mechanism, also known as CDM, allows developed countries to invest in projects that help in reducing carbon emissions in developing companies. However, there has been some grumbling that the CDM energy project in India, focuses more on market issues than on real renewable energy changes.

However, one good solution towards financing renewable energy in India is making more people and companies more aware of and encouraging them to take advantage of micro-financing. Micro-financing is typically handled by forward looking organizations formed to fund and help small scale enterprises to thrive and survive. Many times, these enterprises that wish to invest in renewable energy solutions for their firms are unable to get loans from traditional lending sources. They will often find a friend in micro-financing organizations.

But, surprisingly, sometimes huge organizations do get involved. ABN AMRO is a Dutch owned bank. It is also a leading international bank with over three thousand branch offices in countries around the world. It also has two micro-financing programs, one of which is based in India. ABN AMRO has created a renewable energy equity fund of over sixty million dollars that will invest heavily in renewable energy programs .

Another resource is the International Institute for Energy Conservation. This non-profit organization, based in  the nation's capital, but also in India, works with many counties to help them create sustainable renewable energy systems and to conserve natural resources.

Green Microfinance, a company based in Pennsylvania, and which has it's genesis at the University of Berlin, has created a program called "Energizing India" whose purpose is to encourage the use of clean energy products throughout India.

In the last decade, India has worked to modify it's tax policies to encourage investments in renewable energy technologies. The government has also worked with the World Bank to improve the commercial market environment and encourage further investments in wind, mini-hydro, and solar renewable energy projects.

The Indian government wants more people to use alternate energy and is trying its best to make it economically attractive by providing end users with a number of financing renewable energy options.

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