Nagpur: India’s installed solar power capacity needs to increase to 5,630 gigawatts (GW) to achieve net-zero targets in 2070.
Also, the transition to net-zero can cost India 4.1% of Gross Domestic Product (GDP) in the year 2070, said an independent study released on Tuesday by the Energy Council, Environment and Water (CEE).
At present, this country has 100 gigawatts (GW) of renewable energy capacity installed where the sun consists of 40 gw.
The government aims to increase net energy capacity to 450 gw in 2030.
His first study entitled ‘Implications of net-zero targets for Indian sectoral energy transitions and climate policies’ also stated that to reach zero-zero in 2070, the use of coal, Especially for power plants, it is necessary to peak in 2040 and decrease by 99% between 2040 and 2060.
“Consumption of cross-sector crude oil also needs to peak in 2050 and fall substantially 2050 between 2050 and 2070,” he added.
Further analysis found that green hydrogen can contribute 19% of the total energy sector energy requirements.
“This insight assumes that hydrogen will play an integral role in this transition, while Carbon Capture and Storage (CCS) technology will play a neglected role,” said this study.
According to experts, research findings related to recent reports by inter-governmental panels regarding climate change (IPCC) underlined the criticality of zero-zero globally to limit the increase in temperature to 1.5-2 degrees of the coming decade.
Although India has not committed the net-zero target, it is the only G20 country to fulfill the emission reduction commitment made in the Paris agreement.
Stating that at least the thirty-year gap between peaking and net-zero years will be important for developing countries such as India, Vaibhav Chaturvedi, Fellow in CEE, said, “This will ensure a smooth transition by giving sufficient policy makers and other stakeholders Time to plan and adapt to the new energy system.
Also, when we move towards a net-zero future, energy prices can increase in the short term and workers who are part of the fossil fuel economy can lose work.
Therefore, countries, countries Advanced must offer generous financial and technology support to developing people to help them set ambitious goals regarding emissions reduction while ensuring a fair transition.
“In the agreement, CEE CEO Arunabha Ghosh said,” Equity must be in the heart of the net debate zero.
advanced economy must significantly advance their targets To reach net-zero and not wait until 2050.
It will provide developing country space to pursue a fair and sustainable energy transition.
“He added that India must also concurrently and develop new green technology in partnership with other countries to create jobs and new markets.” Hydrogen green is one of the technologies that can replace coal in the industrial sector, “Ghosh said.
This study also Highlighting that passenger vehicles driven by electricity or batteries will consist of 84% of all cars sold in this country.
“79% of all trucks will run on battery-electric technology and rest on hydrogen.
Households throughout the country also have to use electricity as the main cooking fuel.
The wind and nuclear energy in a mixture of Indian electricity generations must increase to 1792 gw and 225 gw, “he added.