For all those Renewable Energy Projects who have written off carbon credits as a funding mechanism should take heart in the form of the Australian Carbon Tax legislation which allows for purchase of carbon credits from outside Australia post 2015, once its converted into an emissions trading system.
The legislation barely scraped through with the politicians in favor of the environment winning this round. Its quite an achievement which begs to be followed by all countries as the biggest polluters pay for their emissions. The tax is aimed at pushing firms towards more energy efficient mechanisms and move power generation towards gas and renewable energy. The scheme could incentive large investments in cleaner non-polluting alternate energy sources.
Similar initiative are in place in the European Union which welcomed the news and New Zealand while more are being put in place in China, some states of the USA, South Korea and South Africa. Their is an urgent need to meet growth with a sustainable outlook rather than an economic / convenient answer at all times.
Whats your take on making this mandatory in India