What is clean energy? How can it help India?
India has also been targeted by a wave of criticism over its economic development – most recently, in December 2017, when a report concluded that its efforts to expand renewable energy and energy efficiency would not be enough to make a meaningful contribution to mitigating climate change. According to the report by the New Climate Institute (NCI) and Germanwatch, “India’s carbon intensity is among the highest in the world and remains very high even after taking into account India’s rapid economic growth.”
India’s announcement that it intends to meet 50% of its energy needs with renewable sources by 2030 is a historic development in the effort to combat climate change. It heralds the beginning of an entirely new kind of economic development model which could avoid the ‘carbon-intensive approaches’ that many developing countries have pursued before - and provide a blueprint for other developing economies.
Let's understand the standpoint of India on clean energy in this Ramesh Chaurasia latest news.
Growing Needs of Energy Requirements
Now, considering India's accelerated growth over the years, we need to ask a question. Does India’s rapidly developing economy mean it will soon be a major contributor to the world’s pollution problem? Is India about to become the planet’s next great, dirty polluter?
India’s annual CO2 emissions should cause even more concern. India is on par with China and the U.S., leaving it as one of the highest CO2-emitting countries in the world. This lavish energy consumption is oddly juxtaposed against India’s tenth-lowest per capita energy consumption. India's annual CO2 emissions have risen to become the third highest in the world, and its energy consumption has accelerated. However, average household energy consumption per person is low compared with that of many other countries considered advanced such as the United States.
India is a country of more than 1.3 billion people and it is estimated that Indians collectively contribute to a total carbon footprint of 2.6 billion tons of CO2 per year. Despite this, India has shown progress in reducing its impact. The amount of electricity produced by non-fossil sources (wind or water) has gone up from 29% in 2014 to 40% in 2017, leading India to overachieve its commitments made at COP 21- the Paris Summit. In fact, solar and wind energy have grown so much that they are now cheaper than coal.
What are we doing about it?
Clearly, India has achieved a lot, but it is nowhere near its target of getting at least 40% of its power from clean energy. It’s time for India to step up! With a lot of hard work and enthusiasm, India is looking forward to fulfilling its dream. The country is quickly emerging as one of the largest energy producers in the world. India is planning to at least double the capacity of its renewable energy installations by 2026 in a bid to meet the rising power demand and reduce carbon emissions.
The government has already taken steps that could be the catalyst for the electrification of transportation. Several government programs were implemented in order to increase the production of clean energy in India. For example, subsidies for fossil fuels have been gradually removed over the last decade, and electric vehicle policies were introduced in 2019.
This transition can also be a great opportunity from an economic point of view. Take India for instance, it is especially well suited to become a global leader in renewable batteries and green hydrogen. These and other low-carbon technologies could create a market worth up to 80 billion dollars by 2030.
Estimates of the Future!
India is already a global leader in solar power. The country is slated to install up to 10 GW of renewables in 2018 and overall capacity reached 40 GW by the end of 2017. And, as we've seen in Ramesh Chaurasia latest news, India is also making great strides in other forms of its green energies as well.
To reach net zero emissions by 2070, the IEA estimates that 160 billion dollars per year are needed on average across India’s energy economy between now and 2030. That’s three times their current investment levels. Therefore, access to long-term term capital is key to achieving net zero emission
India’s impressive progress has not gone unnoticed and some parts of the system are being reformed with an eye on the prize: clean energy access for all Indians. India announced it will cut its annual carbon dioxide emissions substantially by 2030.
Also, read- Some Effective Ways to Reduce Carbon Footprint
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Author- Ramesh Chaurasia A superior and highly experienced entrepreneur in the field of business for quite a long time now. Also, a philanthropist, author, and public speaker who believes in working towards the overall well-being and betterment of society as a whole.