(PDF) The General Theory of Economic Evolution

Running head: EVOLUTION OF ECONOMIC SYSTEM
Evolution of Economic System
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Executive summary:
With ever evolving environmental situation, development of the world energy sector has been
entering into a new historical period, where the factor of production is shifting from fossil fuel to
the low carbon and cleaner resources. Considering the deteriorating situation of the world
environment due to the rise in the carbon footprint around the world, it has now become too
much important for the respective governments to look into only those factors that can provide
greener energy at the lowest externality on the environment. Developing states are the recipient
of the worst hit of the scarcity of energy resources and various international obligations has also
harmed their interest to produce more energy at a cost of the environment. Under this scenario,
countries like India has opted for advanced battery system, which are meant to provide power on
demand rather than utilizing the base load electricity. This report is meant to analyse the factors
that will affect the pace of uptake of this latest technology and provide comment on the same to
make it an efficient option for the population of the country. In addition to this, the report is
focused to study the application of the system and evaluate the economy of solar and batter
stored electric supply so as to predict the future trend of this latest technology.
As it has been found by the report that the developing nations are the worse hit by the present
situation of the environmental situation around the world under the stringent environmental
policies decided by the international bodies that are mainly operational under the whip of the
developing nation and this has forced them to move towards greener technologies. Considering
the case of the India, the report has found that the situation for the state is more panic stricken
than the other countries due to the present pressure of ever rising demand of energy under the era
of rapid growth for the nation. Though the state has been trying since decades to evolve itself as
one of the state that depends largely on the renewable energy rather than the black fuel, however
various factors has constrained its growth. To conclude, it would be idle to state that, if the

EVOLUTION OF ECONOMIC SYSTEM2
recommendations as mentioned below can be followed, then it can easily overcome the hurdles
in front of the depicted ambitious project of the India.

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Table of Contents
Introduction:................................................................................................................................................4
India’s green shit towards renewable energy:..............................................................................................5
Energy storage and the factors that hamper the growth of new technology:................................................7
Storage Battery Technologies application:................................................................................................10
Balance of Systems:..................................................................................................................................11
Economy of solar and battery stored electric supply:................................................................................12
Recommendation:......................................................................................................................................12
Conclusion:................................................................................................................................................14
References:................................................................................................................................................16