Context

• India is undergoing a significant energy transition, balancing between fossil fuel dependency and accelerating the shift to renewable energy to achieve net-zero carbon emissions by 2070.
• The current compartmentalized decision-making structure in energy policy needs integration to address international geopolitical tensions and technological advancements effectively.

Details

Key Points

• Dual-Pronged Energy Policy:
  • Fossil Fuels: Managing import dependency, diversifying import sources, strategic reserves, domestic exploration, demand conservation, efficiency, and environmental protection.
  • Renewable Energy: Commitment to net-zero carbon emissions by 2070, reducing carbon intensity, and achieving 500 GW of non-fossil fuel electricity generation by 2030.
• Ministry Roles and Integration:
  • Fossil Fuels: Handled by the Ministry of Petroleum and the Ministry of Coal.
  • Renewables: Managed by the Ministries of Renewables, Power, Heavy Industry, Mines and Minerals, IT, and Environment.
  • Need for Integrated Policy: Address the compartmentalized structure for cohesive energy policy formulation and implementation.
• Geopolitical Context and Supply Chain Resilience:
  • Global Competition:US, its allies vs. China and Russia, impacting green transition.
  • China’s Monopoly: Dominance in materials essential for green energy and low-cost technology.
  • Strategic Measures: Duties on Chinese imports, PLI scheme, and potential development of a strategic frame similar to the US Chips and Science Act.
• Strategic Framework for Convergence and Sustainability:
  • Hydrocarbon PSEs and Energy Companies: Prevent duplicity of effort and resources.
  • Supply Chain Volatility: Addressing future requirements of copper, lithium, nickel, and cobalt as warned by IEA.
  • National Security and Green Technology: Balancing competitiveness of clean energy and mitigating security risks.
  • Private Capital and Green Investment: Incentivizing private investment, stepping up public investment, and creating a roadmap for the transition.
• Policy Recommendations:
  • Energy Strategy Document: Prepare a document titled “Energy strategy: Towards convergence, security, and sustainability” addressing the above issues.
  • Public and Private Sector Synergy: Identify sectors for special incentives and increase public investment to attract private capital.
• Addressing Global and Domestic Challenges:
  • International Forces: Impact of geopolitical tensions on energy policy.
  • Technological Innovation: Adapting to exponential technological advancements in the energy sector.
  • Polarized Context: Navigating through a polarized international geopolitical landscape for sustainable energy transition.

Renewable Energy in India

Ambitious Targets:

• India has set a target to achieve 175 GW of renewable energy capacity by 2022 and 450 GW by 2030. The focus is on solar, wind, biomass, and small hydro power.

Policy Support:

• Government initiatives such as the National Solar Mission, incentives for solar rooftop installations, and wind power auctions have significantly boosted renewable energy capacity.

Net Zero Carbon Emissions

Long-term Commitment:

• India has committed to achieving net zero carbon emissions by 2070, aligning with global efforts to limit global warming to below 2°C and pursue efforts to limit the increase to 1.5°C.

Sources:

IndianExpress

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