Monday, January 24, 2022

India inches closer to achieving emission reduction targets

The feat is a reflection of India’s commitment in achieving its Nationally determined contributions (NDC) targets.

In a milestone leap, India has already achieved an emission reduction of 28% over 2005 levels, against the target of 35% set for 2030.

The feat is a reflection of India’s commitment in achieving its Nationally determined contributions (NDC) targets.

INDIA-ISA Energy Transition Dialogue 2021:

The India–ISA Energy Transition Dialogue 2021 was organized on 24th August by the International Solar Alliance (ISA) and the Ministry of New & Renewable Energy (MNRE) to facilitate the exchange of ideas between key RE stakeholders on core issues.

Objective:

The primary objective of the ‘India ISA Energy Transition Dialogue’ is to facilitate informed policy interventions and decision making for global energy transition through an interactive and structured dialogue to:

– Position One Sun One World One Grid initiative by GOI, ISA & World Bank as a key accelerator for the energy transition

– To enable member countries to re look at their national strategies for energy transition and to augment and strengthen the efforts being made towards high-level dialogues like UN-HLD on Energy Transition and COP-26.

About the event:

At the global dialogue, Union Minister of Power, MNRE, and the President of International Solar Alliance, R.K Singh underlined the favorable polices enacted by the govt. from time-to-time to boost the clean energy sector.

He said, “India has aggressively been pushing for improvements in energy efficiency improvements for the past two decades through a combination of innovative market mechanisms and business models, institutional strengthening and capacity building, as well as demand creation measures.

Rising demand necessitates power system flexibility & novel storage technologies:

India has already touched 200 GW of peak demand for renewables. Currently, the electricity demand of India exceeds the pre-COVID times and it is further expected to continue rising.

This gives India the space for adding more renewable capacity, however, it also calls for power system flexibility and introduction of various storage technologies.

India’s laurels in RE-sector:

India is among the few countries globally which has kept its Paris Climate Change (COP21) commitments along with an exponential increase in renewable energy capacity.

Considering the pace of development in the energy sector, India is set to over achieve its NDC commitments well within the committed time frame.

The Indian Power Sector has also achieved the coveted milestone of 100 GW of installed Renewable Energy Capacity. While 100 GW of capacity has been installed and operationalized, 50 GW of additional capacity is under installation and another 27 GW is under tendering process.

As on 31st July 2021, 38.5% of India’s installed power generation capacity is based on clean renewable energy sources and with this pace, India is expected to reach the target of 40% by 2023.

India stands at 4th position in the world in terms of installed RE capacity, 5th in Solar and 4th in Wind energy capacity.

Towards a sustainable future:

80-85% of India’s overall power capacity is anticipated to come from renewables by 2050.

Thus, India is treading on the right path to becoming energy efficient, sustainable and truly atmanirbhar.

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