Achieving 50% renewable energy by 2030 in India is ambitious but plausible. The nation’s growing commitment to renewables, supportive policies, and decreasing costs contribute. Shifting subsidies from fossil fuels to renewables incentivizes clean energy adoption, fostering sustainable practices and accelerating progress towards the ambitious renewable energy target.
UPSC Mains General Studies Paper – 3 Mains 2022
UPSC Mains Civil Services IAS Exam Question Paper – 2022
Approach
- Start with the brief intro of renewable energy with the reference context.
- Give the opinion that India can meet 50 percent of its energy needs from renewable energy by 2030.
- Describes Challenges for India to meet 50 percent of its energy needs from renewable energy by 2030.
- Explain how the shift of subsidies from fossil fuels to renewables help achieve the above objective.
- Conclusion to accordingly.
Introduction
- To combat climate change, India has set an ambitious target of reaching the net zero emission levels by 2070. India has also proposed a five-point strategy (Panchamrit), which includes meeting 50% of its yearly energy demand, which is 500 GW, from renewable resources by 2030. This is the world’s largest expansion plan in renewable energy.
Body
- Yes, Agree that India can meet 50 percent of its energy needs from renewable energy by 2030. Some points relate to be:-
- Renewable energy sources have a combined installed capacity of 150+ GW. As of 31st August 2022, Renewable energy sources, including large hydropower, have a combined installed capacity of 163 GW.
- 59 solar parks of aggregate capacity 40 GW have been approved in India and Introduction of Sovereign Green Bonds in public sector projects and By 2021, 165 GW of zero-carbon generation had already been installed in the country.
- The Central Electricity Authority forecasts the country’s reliance on coal to drop from 53% of installed capacity in 2021 to 33% in 2030, whereas solar and wind together make up 51% by then, up from 23% in 2021.
- Wind power generation capacity in India is the fourth largest installed wind power capacity in the world.
Challenges for India to meet 50 percent of its energy needs from renewable energy by 2030:
- Massive funding requirement: As mentioned in the report by BloombergNEF, India will require a substantial investment of $223 billion to meet its wind and solar capacity installations. Mobilising such a significant amount of funding is a major challenge, especially considering the country’s existing financial constraints.
- Project execution and financing risks: The successful implementation of renewable energy projects is crucial for meeting the targets. However, there are challenges related to project execution, including delays in land acquisition, obtaining necessary permits and clearances, and addressing infrastructure constraints. These delays can increase project costs and lead to financing risks.
- Power Purchase Agreement (PPA) renegotiation: The renegotiation of PPAs can be challenging, particularly when stakeholders have differing expectations and priorities. Ensuring a balanced approach that satisfies the concerns of both project developers and distribution companies is essential. Delays or disputes in PPA renegotiation can hinder the deployment of renewable energy projects.
- Technological advancements and skill development: India needs to continue investing in research and development to foster technological advancements in renewable energy. Promoting indigenous manufacturing and innovation can help reduce dependence on imported technologies and equipment.
Will the shift of subsidies from fossil fuels to renewables help achieve the above objective:
- Eliminating fossil fuel subsidies and implementing carbon pricing: By cutting subsidies and increasing taxes on fossil fuels, India is reducing the economic incentives for using fossil fuels and creating a price signal that reflects the environmental costs of carbon emissions. This can encourage the transition towards cleaner and more sustainable energy sources.
- Stepping up investment in energy efficiency: Increased investment in energy efficiency measures can help reduce energy consumption and lower greenhouse gas emissions. The Energy Conservation Act and the establishment of the Bureau of Energy Efficiency in India reflect the commitment to improving energy efficiency across various sectors, contributing to the objectives of emission reductions and sustainable energy use.
- Phasing out coal: Decreasing electricity generation from coal is crucial for achieving the 1.5°C target and reducing emissions. Creating conditions for phasing out coal, such as promoting renewable energy sources like wind and solar, can help transition to a cleaner energy mix and reduce carbon emissions associated with coal-fired power plants.
- Improving access to electricity and clean cooking: Enhancing access to electricity and promoting clean cooking solutions can have multiple benefits, including reducing emissions from traditional cooking fuels and improving air quality. Initiatives like the UJALA LED bulb campaign contribute to emission reductions by promoting energy-efficient lighting options.
Conclusion
- Thus, fossil fuel subsidy reform is an essential step, coupling it with a “swap” approach that redirects savings towards the clean energy transition can amplify the benefits and accelerate progress towards climate change goals. It requires a comprehensive approach that encompasses policy reforms, targeted investments, and stakeholder collaboration to drive the necessary changes in the energy landscape and promote a sustainable, low-carbon future.
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