Energetica India Magazine March 2022

energetica INDIA- Mar_2022 47 BIOENERGY wise have to deal with the huge agri - culture waste. Bio-fuel companies can help farmers with end-to-end agricul - tural waste management, providing incentives at the same time. Abundant availability Given the source of renewable ener - gies like solar, wind or bio-fuels are not limited and have abundant availabili - ty, there is no chance of running out of alternate sources of energy unlike fossil fuels. It is available abundantly in nature and can be used whenever required without depleting natural resources. Harnessing the power of energy already available aplenty saves costs of acquiring fossil fuels like coal, diesel etc., making it sustainable at the same time. The challenges and possible solutions to increase adoption Businesses across the world are facing this unnerving task of reducing depen - dence on fossil fuels, because they are a threat to the environment and are becoming scarce and costly. While al - ternate sources of energy are playing a critical role in meeting the world’s energy requirement, its role in the fu - ture will be indispensable. Taking cog - nizance of this fact, strict policies and standards are required from the gov - ernment to ensure the sustainable de - velopment of alternate energy across energy intensive businesses. A reliable energy scenario is the one that uses both fossil fuels and renewable energy like bioenergy as it possesses large op - portunities like better energy security, reduced emission of greenhouse gases, and improved access to energy, rural development and poverty eradication. To ensure that the advantages offset the threats, leading companies should immediately develop and start adopt - ing alternate sources of energy for economic, social and environmental considerations. One solution to this issue is developing a multi-stakehold - er process that engages all parties in - volved in its adoption. This is Govern - ments, NGOs, farmers and industry leaders that can benefit from such an agreement. Given the regional varianc - es of climates, agriculture, and energy needs, regional standards should be developed and refined. Ideally, each level (international, regional, national and local) should introduce mandato - ry sustainability standards for use of renewable energy by means of regula - tions that are consistent with the oth - er levels. The agreement can provide a framework and set core standards for environmental, social and economic criteria for different sectors adopting renewable energy. At a regional or na - tional level it can elaborate on what goes beyond the international agree - ment’s minimum standards, and can also establish implementation instru - ments (such as feed-in tariffs, admix - ture quotas, tax exemption and import regulations). National implementation must be consistent with regional and international regulations and sustain - able standards, but allow for flexibility of national circumstances. Renewable energy especially bioenergy has great potential to provide a significant por - tion of global energy demand without competing with food production, for - est-protection efforts and biodiversity, and lead to development of rural areas by providing development opportuni - ties and access to sustainable energy for those who lack this currently. Given the range of issues it touches, problems in implementation will continue unless standards are tackled in a multi-stake - holder process in the near future to en - sure its sustainable development across sectors. With tremendous pressure on conven - tional fuels it has become imperative to shift to alternate sources of energy or adopt blending of fuels for long-term benefits. This will not only help the environment bit also help in increas - ing their brand credibility amongst the key stakeholders in the long run.