Abridgement of Renewables: It's Potential and Contribution to India's GDP
Aarti Dangwal, Sanjay Taneja, Ercan Özen, Igor Todorović, Simon Grima
Abstract
In today's world, one cannot deny the magnitude of energy use. It is a necessity in every field and can be categorized as renewable and non-renewable energy. The importance of renewables cannot be overstated since the non-renewable resources will not last forever. Once they are used, we must remember to consider their effect on the environment. This paper highlights how deploying renewable energy sources instead of non-renewables improves the Indian Economy. To do this, we gathered time series data and applied the statistical test for analysis of variance (ANOVA) to measure the strength of the impact of selected variables. Findings show that renewable energy sources have become progressively critical in terms of the fossil fuel recession. Energy-efficient technologies and sustainable energy applications and their impact on the Indian Gross Domestic Product (GDP) demonstrate that renewables significantly impact the Nation's growth prospects.