The role of renewable energy in achieving India’s net zero targets – pv India magazine

May 29, 2024 Naresh Mansukhani, CEO of Juniper Green Energy

Climate change is a fact. We have been observing this for generations, unfortunately without taking appropriate action. Think about examples from last year. The year 2023 was the hottest day in world history, as confirmed by continued warming. On the other hand, there have been record floods in Asia, such as the one we witnessed in Himachal Pradesh.

According to reports, Asia remains the most disaster-affected region due to weather, climate and water hazards. Storms and floods were the hardest hit.

Celeste Saulo, Secretary-General of the World Metrological Organization, recently said that “the climate crisis is the greatest challenge of our generation” and that “the cost of climate action may seem high, but the cost of inaction is much higher.” If we think about it, we find that this has been the root of all causes so far.

However, there now appears to be global awareness of the need to achieve net zero targets. During COP26, India set a timeline for installing 500 GW of non-fossil fuel plants by 2030. Apart from this target, India has set four other targets:

a) India will meet 50% of its energy needs from renewable sources by 2030
b) India will reduce total projected carbon dioxide emissions by one billion tonnes between 2021 and 2030
c) India will reduce the carbon intensity of its economy by more than 45% by 2030
d) India will achieve net zero emissions target by 2070

A shift towards a renewable future

India is one of the world’s largest energy consumers, and much of the country’s energy mix, which is still dominated by fossil fuels, especially coal, contributes to high greenhouse gas emissions, challenging the country’s climate goals. However, over the last few years, India has made significant progress in this regard, increasing its renewable energy capabilities, especially solar and wind energy.

According to the latest data from the Ministry of New and Renewable Energy, India added a record 18.48 GW of renewable capacity in 2023-24, up over 21 percent from 15.27 GW a year ago.

The Government of India has implemented several policies and initiatives to promote the development of renewable energy. For example, the National Solar Mission aimed to make India a world leader in solar power by installing 100 GW of solar power by 2022. While the goal was ambitious, it spurred significant investment and technological advancements in the sector.

Additionally, the government has introduced various incentives such as subsidies, tax breaks and low-interest loans to encourage the use of renewable energy. The recent National Green Hydrogen Mission and the push for electric vehicles are also key elements of India’s strategy to reduce dependence on fossil fuels and reduce greenhouse gas emissions.

Going forward, an increase in public-private partnerships in the energy sector will help provide the necessary energy resources and infrastructure to create an enabling environment for newer projects. Together with private companies, the government can invest in workforce development programs to provide a skilled workforce for the renewable energy sector. This will create a readily available pool of trained labor needed to successfully implement these projects.

In addition, collaboration with foreign companies will facilitate the transfer of technology and knowledge in advanced solar panel manufacturing, efficient wind turbine design, etc., and help India move faster to cleaner technologies.

Furthermore, to reduce the likelihood of failure, the planning and implementation of renewable energy projects must be critically assessed. As with other large government programs, projects require a well-defined purpose, a reasonable time frame, adequate resources and a regulatory structure that facilitates and encourages them. However, the required workforce skills and supply chain performance are crucial for successful implementation.

Industry and other relevant stakeholders need to be engaged to identify any other major dependencies and factors blocking change. To put things into perspective, a “holistic approach” is needed, based on cooperation between the government and various sectors.

Technological progress and socio-economic benefits

Technological innovation is driving the growth of renewable energy in India. Advances in photovoltaic (PV) technology, such as more efficient solar cells and cost-effective manufacturing processes, have made solar energy increasingly competitive with traditional energy sources. Similarly, improvements in wind turbine design and offshore wind technology are increasing the potential of wind energy. Energy storage technologies, including batteries and pumped storage, are also key to addressing the instability of renewable energy sources, ensuring a stable and reliable energy supply. Moreover, the development of smart grids and digital technologies increases the efficiency and integration of renewable energy into the national grid.

India’s path to net zero emissions does not require Herculean efforts. We can achieve this by wholeheartedly adopting renewable energy sources, investing in innovation and technology, and promoting public-private partnerships to build a better, cleaner and more sustainable India for future generations. This will require a multi-pronged strategy that takes into account not only generation, but also its storage, transmission and seamless integration with the conventional grid.

Project efficiencies, a culture of continuous innovation and a talented workforce will surely ensure India’s renewable energy program reaches its true potential and position the country as a global leader in this exciting new phase of the clean energy transition.