Policy Impact on Generation of Renewable Energy

Abstract

The energy consumption is increasing throughout the world. The renewable energy is potential answer to meet the increasing demand. Fossil fuel are diminishing with fast pace and greenhouse gas emission potential. So, the world is promoting renewable energy generation. In this work, government policy impact is assessed for renewable energy promotion. The 4% subsidy on solar, increases approximately 1200% of solar energy generation in 23 years' term and 4% subsidy on wind, increases 69% in wind power generation. The case, on per tone CO 2 emission by fossil fuel-based plant is also reducing the use of non- renewable power energy uses.