The renewable sector of India includes solar and wind power segments. This sector can create the new job opportunities for about 4.5 million in the next 25 years. This estimation is shown in a new study which is carried on the country’s energy sector.
A report which is presented at the International Labor Organisation (ILO) said that these sectors have capabilities to create huge job opportunities whose outcome is to fight against the climate change that is occurring in the world. The UN labour agency said in a statement that this would create 24 million jobs and this will help in promoting the right policies for a green economy.
The ILO report shows the advantages and disadvantages of this program. The program will also hike the employment in the sector, and it would be open to those countries who can implement the vocational training sessions, and it will increase the scope of the solar module development.
Presently, two green energy sectors are now outseeing the fossil fuel energy as a form of the investment opportunities, and it will provide about 12 percent hike in annual returns, 61 percent high risk-adjusted returns and 20 percent lower annual volatility. This estimation is shown after the study was done on the coal and natural gas sectors by the Climate Policy Initiative and Indian School of Business with the help of experts from Jawaharlal Nehru University (JNU) and Indian Institute of Technolgy (IIT) Delhi.
The result of the study which is shown in a series of the four reports which is titled as “ An Assessment of India’s Energy Choices” was released today. The main aim of the series is to look at the future of the renewable energy in India, and it states that the investors see more green energy as they are less risky than the fossil fuel.