Energy
Friday, November 3rd, 2023 2:25 pm EDT
Key Points
- India has set ambitious renewable energy goals, with targets of 50% of its power generation coming from renewables by 2030 and 100% by 2070, as part of its transition to a net-zero economy.
- Despite these goals, coal production continues to rise in India, and experts believe coal will remain a crucial component of the country’s energy mix for at least the next 10 to 20 years due to challenges in meeting growing electricity demand, especially for cooling and electrification.
- India faces challenges in relying on renewable energy sources like solar, wind, and hydropower due to issues related to variability, weather conditions, and underdeveloped power grids. Ramping up investments, especially in battery storage, and seeking foreign investments are crucial for India to transition away from coal and achieve its net-zero goals.
India has ambitious renewable energy goals, aiming for 50% of its power generation to come from renewables by 2030 and 100% by 2070. However, coal production in the country continues to rise, and experts believe coal will remain a vital part of India’s energy mix in the coming years. Fossil fuels, mainly coal, currently make up 75% of India’s power supply, as coal is abundant and essential to meet the growing electricity demand driven by factors like electrification of households, economic growth, and the increasing adoption of electric vehicles. While India is making strides in renewable energy, issues like variable energy sources and underdeveloped power grids hinder progress. Experts suggest that investment in battery storage and foreign investments are essential to transition away from coal and achieve India’s net-zero goals.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/03/india-push-toward-renewables-will-not-stop-coal-reliance-for-20-years.html
