Renewable Energy has been growing at rapid rates in the recent past. This growth has mainly been triggered by concerns of climate change, projected depletion of fossil fuels and consequent need for energy security. Another major reason is the need for energy access to millions of people-mostly in developing countries-who have been deprived of this vital economic input. According to latest estimates, renewable energy supplied an estimated 16.7% of energy consumption in 2010. Out of this, 8.2% came from modern renewables comprising wind power, solar energy, geothermal energy, hydropower, biomass- based power generation and biofuels. The balance 8.5% of global energy was supplied by traditional biomass.