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India's New and Renewable Energy Market: Opportunities and Challenges

The importance of new and renewable energy has been drawing attention since the Paris Climate Agreement was adopted in 2015. The Paris Agreement aims to keep the average temperature rise below 2°C compared to the pre-industrialization era and to limit the future temperature rise to 1.5°C or less. Since its adoption, many countries have become active in using eco-friendly energy, such as new and renewable energy, and providing policies to support the ecosystem of low-carbon industries. However, the domestic new and renewable energy market in Korea is limited, making it difficult to mass-produce power generation devices. In addition, the international community's transition to a low-carbon ecosystem is rapidly taking place. To achieve 2050 carbon neutrality, it is necessary to secure Nationally Determined Contributions (NDC) through various overseas cooperation projects. Thus, it is believed that energy cooperation with developing countries is needed to expand domestic markets and to achieve overseas NDC reduction targets. Considering India's recent market expansion and active policy in the area of renewable energy, it can be a good partner for Korea in the sector.
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공공누리 OPEN / 공공저작물 자유이용허락 - 출처표시, 상업용금지, 변경금지 공공저작물 자유이용허락 표시기준 (공공누리, KOGL) 제4유형

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