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26 Suresh Baral et al.: Existing and Recommended Renewable Energy Conversion Technologies for Electricity Generation in Nepal considerably the quality of life in remote areas. In Nepal, this hybrid power is mostly suitable in the Annapurna conversation area, where there is good wind and solar potential. This hybrid system not only replaces the diesel-based electricity but also improves the living standards of people living in remote areas. Although there are few cases of hybrid system power generation, as discussed earlier, this is not utilized to its full potential. Therefore, for countries like Nepal, this concept should be applied to the rural poor areas for electricity generation. 5. Conclusions The future economic development path for Nepal is likely to result accelerated demand. The potential of various renewable energy resources through different conversion technologies will help meet the current demand of the country. The renewable energy resources conversion technology presented in this paper is expected to help Nepal’s government energy planners, energy economists, donor agency, policy makers and researchers to understand the different technologies for electric power generation with the latest technology used widely around the world. In addition, the government of Nepal has decided to produce 10000 MW of electricity within 10 years. To implement the plan proposed by the government, the renewable energy resources should be harnessed by utilizing the recommended technology presented in this paper. Although only hydropower is being exploited for electricity generation in Nepal, other simple and economically feasible technology through solar, biomass and wind power can also be installed for power generation. This type of power generation requires fewer time frames and can be installed easily in remote and urban areas compared to hydropower plant construction. Small scale power generation technology is necessary to help solve the frequent power shortages in urban areas and provide rural electrification remote areas for lighting and other purposes. Therefore, in this context, the renewable energy resources may serve to supplement the long-term energy needs of Nepal. An integrated energy planning approach, consistency in government energy policies and rational policy instruments to deal with techno-economic and socio-political barriers are the pre-requisites for long-term sustainable development of the renewable energy technologies for power generation. The link between government, local and private communities is a key challenge for electrification in the country. ACKNOWLEDGEMENTS This research was supported by the National Research Foundation of Korea (NRF) funded by the Korea government (MSIP) through GCRC-SOP (No.2011-0030013). This work was also supported by the Energy Efficiency & Resources Core technology Program of the Korea Institute of Energy Technology Evaluation and Planning (KETEP) granted financial resource from the Ministry of Trade, Industry & Energy, Republic of Korea (No.20112010100030). REFERENCES [1] ADB, 2013. Asian Development Outlook. Asian Development Bank (ADB), Philippines. [2] REN21, 2012. Global Status Report, Renewable Energy Policy Network for 21st Century (REN21), Paris. [3] IEA, 2012a. World Energy Outlook. International Energy Agency (IEA), Paris. [4] IRENA, 2012a. Doubling the global share of renewable energy: A roadmap to 2030. International Renewable Energy Agency (IRENA), Bonn. [5] NEA, 2013. A year in Review-Fiscal Year 2012/13.Nepal Electricity Authority (NEA), Nepal. [6] Nakarmi, A., 2013. Power Summit 2013: Exploring possibility. New Spotlight News Magazine (http://www.spot lightnepal.com/News/Article/-Exploring-Possibility (2014, accessed 25 January 2014). [7] MoF, 2013. Economic Survey Fiscal Year 2012/2013. Ministry of Finance (MoF), Government of Nepal. [8] World Bank, 2012. Development Indicators: 2012. World Bank. Washington, DC. [9] CIA, 2013. The world factbook 2013-14. Central Intelligence Agency (CIA), Washington DC. the need of drafting and approving policies and regulations. The revised renewable energy policy must address the role of these technologies for rural electrification as a substitute for traditional energy sources, such as kerosene-based lighting. The new policy should be compatible with socio-economic and political aspects of the region or country for launching and strengthening. The final policy that needs to be addressed is the legal framework. For the legal frameworks, it is essential to consider the economics. If these technologies for rural electrification are to be promoted as a competitive component, financial parameters, such as capital costs, operation and maintenance cost, and payback period of the technology should be considered. Therefore, it is urgent to address these technologies in Nepal for rural peoples to provide one of the basic needs, electricity, as well as for improving the living standards and economic growth. To support these technologies for implementation in Nepal, energy policy should have given high priority. The policies regarding new technology need to strengthen the commitment in the implement of energy initiatives. Therefore, the starting point is an institutional arrangement. New technology for implementation cannot be realized without institutional and managerial structures and controls. In other words, the responsibilities of the various authorities need to be defined clearly. 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