Energy plays the most vital role in the economic growth, progress and development, poverty eradication, and security of any nation. Uninterrupted energy supply is a vital issue for a better life today. Future economic growth crucially depends on the long-term availability of energy from sources that are affordable, accessible , and environmental friendly. Acute energy scarcity is hampering industrial growth and economic progress. Strong dependence on fossil fuels for energy requirements is contributing significantly to greenhouse gases emissions. It is proposed that the introduction of renewable energy sources portfolio to the future energy mix and diversification of fuel sources will (1) enhance energy security and mitigate CO2 emission, and (2) improve the quality of life. Failing to protect the environment, would impede not only economic and industrial growths globally but also pose serious health hazards.