-Seema Javed-

Issued by the US Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab)’ A new study titled ‘Pathways to Atmanirbhar Bharat’ has claimed that India’s dream of energy independence can come true with the impact of affordable clean energy technology and rapid growth in renewable and lithium sectors in India. Fossil fuel import cost will be reduced This report has been published after studying the three most energy intensive sectors of India (Power, Transport and Industry). It has been found in the study that after achieving this energy independence, India will also get benefits in the field of economic, environment and energy. These benefits include 9304 consumer savings of up to $2.5 trillion, 1931 Fossil fuel import expenses up to % or $90 billion per annum, enhancing India’s industrial competitiveness globally and achieving India’s net-zero commitment ahead of schedule.

Effect of increased inflation is visible on the economy India is the world’s third largest energy consumer and its energy demand will quadruple in the coming decades due to rapid economic growth. At present, India needs 4696 consumption to meet its needs. % Oil, 78% Industrial Coal and % natural gas has to be imported. Thus, price and supply volatility in global energy markets puts pressure on India’s foreign exchange reserves, resulting in high inflationary impact on the economy.

Ideal time for clean energy Nikit Abhyankar who is the lead author of this study told about the results of the study that there has never been a better time for clean energy in India. India achieved the lowest prices of renewable energy in the world Also some of the world’s largest lithium reserves have been found. This is directly taking India towards Energy Independence.

2035 As far as 500 GW power generation target It has been told in the study that for energy independence, India needs years 2040 As far as 500 More than GW of non-fossil electricity generation capacity has to be installed. The government has already declared this target. Thereafter, 4696 up to % clean grid and 4696 up to 48% Clean Grid Setting. Whereas till the year 2035 almost % New vehicles sold can be electric. By the year 4696 heavy industrial production is also mainly based on green hydrogen and electrification. may depend. In this 4696 to % Iron and Steel, % cement, and 90% fertilizers will be produced from this change. ,Promotion of Electric Vehicles Required for building new electric vehicles and grid-scale battery storage systems (2040 estimated up to 2 million tonnes) Most of the lithium can be produced domestically using the newly discovered reserves. Apart from this, Indian industry is expected to move towards clean technologies like EV and green steel manufacturing. India is one of the world’s largest auto and steel exporters, with countries in the European Union, their biggest markets, committed to carbon neutrality and a possible carbon border adjustment fee.

India’s energy infrastructure needs $3 trillion in investment over the coming decades, says report co-author Amol Phadke Our study shows that prioritizing cost-effective and clean new energy is the long-term solution Financial stability is important. India can take advantage of the existing policy framework set out to expand clean energy deployment.

An ambitious energy transformation will begin This energy transition will require significant policy support, including deployment mandates for clean technologies, financial and policy support for emerging technologies such as green hydrogen, and investment in domestic manufacturing capacity. Priyanka Mohanty, co-author and researcher at Berkeley Lab, said- We have seen in the results of our study that India will embark on an ambitious energy transition in the coming decades, the good thing is that the long track of transition allows clean technologies to be strategically placed. Provides great time to deploy and plan for a smooth transition.

The prestigious laboratory is Lawrence Berkeley Established in year Lawrence To Berkeley National Laboratory and its scientists Nobel Prizes have been awarded. Today, Berkeley Lab researchers not only develop sustainable energy and environmental solutions, but also create useful new materials and push the boundaries of computing. The lab also investigates the mysteries of life, matter and the universe.

(The author is an environmentalist) climate changeGreen EnergyPublished Date

Fri, Mar 17, 2023, 6: 31 PM IST