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The Enercon E126 launched five years ago is still the world’s largest wind turbine with a production capacity of 7.5 MW. Harnessing wind energy has been in practice since times immemorial, with sailors harnessing it with the use of sails. The idea of utilizing the kinetic energy of wind to produce electricity came to the Scottish academic James Blyth when he installed the first electricity generating wind turbine as a battery-charging machine in July 1887 to light his holiday home in Marykirk, Scotland. Windmills have been used traditionally for other purposes like, pulling water out from wells, grinding grains, etc. The idea that wind energy could be utilized for commercial production of electricity became a reality when a prototype model of the modern horizontal-axis wind generators came into service at Yalta, USSR in 1931. The first utility grid-connected wind turbine to operate in the UK was built by John Brown & Company in 1951 in the Orkney Islands while as of 2012 Vestas is the largest manufacturers of wind turbines.

India has been one of the major producers of wind power with an installed capacity of 19051.5 MW. India ranks fifth in terms of installed wind power capacities, with Tamil Nadu being the major producer with 7154 MW of installed power capacity. The current energy scenario suggests that renewable energy is the way to go, as fossil fuels along with their exhaustible nature are majorly the cause for global warming. The unsustainable use of non-renewable resources has been touted as the major cause for the increasing global GHG emissions. Climate change mitigation strategies all around the world are advocating for the use of renewable energy sources.

Sources like solar, wind, biomass and water are the major options currently available for renewable energy production. While water and biomass are gaining popularity in India, solar and wind energy are lagging behind in terms of production capacity. The high prices per unit of electricity produced from solar panels are one of the reasons why solar energy has not gained the desired popularity. Wind energy on the other hand is gaining popularity in India with The Ministry of New and Renewable Energy (MNRE) having aimed to reach a target of 10,500 MW during the period, 2007-12, but an additional generation capacity of only about 6,000 MW was to be made available for commercial use by 2012. As of January 2013, India boasts of an installed capacity of 19051.5 MW.

The positives of electricity production from wind energy do not however cover up the fact that Wind Turbines are possibly the one of the most harmful among the renewable energy options available to us today. A recent report published by the CSE on the impact assessment of Wind turbine projects to be set up in Maharashtra have raised many an eyebrows on the issue of renewable energy’s -cleanliness-. The report mentions the harmful side-effects of utilizing wind turbines for electricity generation among its advantages as well. According to the study, wind projects set up on forestland and hilly areas can have a greater impact on water resources and ecology as compared to those in plains. The major disadvantage for humans is observed in case the turbines are placed near human settlements. Residents will be affected by the loud noises and the shadow flicker effect that is commonly associated with the wind turbines. Ecologically, birds and bats are affected severely due to the changing air pressures caused by the swiftly rotating turbines. Turbines also cause extreme soil erosion in forested and hilly areas causing a phenomenon known as linear erosion of soil. It has been observed in cases of large wind farms that the rotating blades cause many bird fatalities. All these ecological atrocities are the reason why there is a need for a paradigm shift from the conventional wind energy generation.

It is observed that instead of installing multiple small wind turbines in wind farms it is usually ecologically more efficient to have one large turbine operating in the area. The velocity of the blades is lower than the small turbines thereby reducing the combined effects of shadow flicker and linear fragmentation of soil. Offshore wind turbines have proven to be more effective as compared to terrestrial/onshore ones. Current plan to install around 10,000 MW capacity wind farms in Maharashtra may prove disastrous to the ecology as well as to the population of the area.

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What Would You Like To Do With Your Extra Money?
Acquire degree from international country?
Memorable Holiday Getaway?
Procure A Most Happening Property?
Boost up Your Lifestyle, Drastically?
Commence A Most Profitable Business?
Improvise Living style Of Your Family, Children and Relatives?
Actualize a pleasurable Retired Life?
Probably you may do all of these or may be most of them. So this is how we do financial planning in India. We make a wish list and then gradually we tries to accomplish each of them with extra money.
Process of managing your money smartly with the intention to acquire your financial goals and wishes is called as financial planning. Its a long process that involves lot of time, patience and wise decision making skills. In other words, financial planning is the procedure of categorizing and judging your economical aspirations, making a priority list of them and finally accomplishing these goals on the basis of priority with a comprehensible, centered and a tailored financial strategy. Proven Financial Planning can assist in achieving better wealth and financial protection as well, whereas unproven or inappropriate set of plans can be catastrophic to your financial health.
Let us understand the concept of Financial Planning in India with example, suppose you are suffering from a mild fever. What you will do? Most probably you will take a self prescribed medicine. But when you did not get relief from self prescribe medicine, most probably you would discuss it with your colleagues, neighbors and friends. They again will suggest you some pill and say this one is a good medicine you will get instant relief and so on. Now you will buy same medicine and eat it. Even now you are not able recover and it persists you may go to the local pharmacist and seek his advice and ask him to prescribe some stronger drug. But what if it prolongs still? Not only mild fever, but other impediments begin arising to you? Now finally you will give up and will go to an experienced doctor. You might get to see a magic by eating only one dose of Doctor. Hence the moral of story is maybe if you had visited to the doctor in the initial phase of your sickness when you were suffering from only mild fever, in place of being in poor health for one week your health might have recovered better within just 2 days.
In the same way, looking for the financial solution and services of a certified Financial Planner is just the same. But people in India yet inquire about disease and look for advice from the druggist and chemist equivalent to agent, or a friend, or a neighbor, or a relative or a colleague for their richly deserved savings which may result grievous.
Youngsters of todays generation do not plan their finances – some youths dont plan because they are not aware of its advantages, some young professionals believe that they do not need financial advice at the first phase of their careers and some without getting it assumes that others getting financial solution from expert is an expensive affair hence they cant afford it. The fact is, as soon you will start investing the more you will be able to accumulate and can fulfill your financial dreams and goals. Your money grows on the “compounding” or the “snowball effect” principle.
To conclude we can say Financial Planning is a continuing long term process concerning to saving management, cash flow planning, insurance planning, retirement planning, tax planning and property planning.