In sync with India’s journey to adopt cleaner mobility solutions and reduce oil imports by 10% by 2022, CII is working with stakeholders to effectively manage energy use with growth; develop high grade energy infrastructure, and promote of clean air and EVs.
While countries are tapping renewable and natural resources for energy, not all that looks sustainable stays that way at the end of its life-cycle. A look at the urgent need to develop a circular economy for clean power systems.
Amidst the growing international carbon footprint menace, India’s emerging leadership in renewable energy has received global recognition.
Between 2010-11 and 2016-17, almost a quarter of the $70 billion-odd in external assistance received by India from foreign governments and multilateral agencies, came from Japan. This amount ($16.59 billion), is far ahead of what the World Bank and ADB committed in that time.
In India, solar is firing on all cylinders or – one might say – making hay while the sun shines. The near future is expected to witness even greater growth as solar moves from vanilla grid-connected projects to newer and more innovative forms of use.
Rapidly evolving technology, conducive policy environment and increasing cost efficiency has transitioned renewables from alternative to mainstream source of energy. The wind industry is supporting the Government’s ‘Make in India’ initiative with over 75% localisation.
The target of 175GW of renewable energy by 2022 and the formation of the International Solar Alliance with India in the lead are examples of our commitment towards clean energy. With both solar and wind power established as being cheaper than coal-based power, going by economic logic alone, majority of India’s future capacity additions should be through renewables.