<b>Laveesh Bhandari:</b> The new world of energy

Good policies are mixed with poor mechanisms, and proactive efforts with regressive subsidies

Amazing developments are occurring in the energy and environment space. As more and more global investment is flowing into environmentally more benign sources of energy, new technologies are coming up rapidly; the cost of energy is falling steadily, and new players are entering this space in the hundreds at the global level. Consequently, the business model of more than a hundred past years of resource-owning extractive large firms is changing to a more dynamic, leaner and competitive sector.

In effect, it is a completely new sector that is opening up in the clean energy sector. This is not simply a