Energy credit cards and incentives for energy growth in India

The energy sector in India is undergoing a major transformation and economy uplift by opting for renewable energy sources. Presently, 36 GW renewable energy generation (REG) plants are installed with 175 GW expansions by 2022. Incentives/taxes have contributed in accelerating energy growth worldwide. An integrated energy credit card (ECC) is proposed as a positive force for policy reinforcement in India to achieve REG growth. The ECC will accumulate eco-credits as R&D incentives, biofuel usage incentives, CO2 taxes on fossil fuel emissions and the credit points may be utilized for payment of bills/taxes towards amenities paralleled with reduction in CO2 emissions.