Towards Zero

The year 2047 is a key milestone in India’s target to reach net-zero emissions by 2070. The country needs to mobilise the financial resources to improve renewable energy generation and foray into nuclear power and green hydrogen

- RICHA SHARMA

TRY IMAGINING THIS. The year is 2047. Some of the top conglomerates and public sector firms are carbon neutral. India has a green power grid fed by renewable energy, unlike now when coal dominates. A majority of two- and four-wheelers running on Indian roads are electric powered. And Indians can breathe clean air throughout the year.

That’s not a stretch if India sticks to the road map for achieving net-zero emissions by 2070. That plan is premised on six elements—expanding renewable energy capacity; improving access to alternative clean energy sources such as nuclear energy, green hydrogen, fuel cells, and biofuels; increasing energy efficiency; rational utilisation of fossil fuel resources; industrial decarbonisation; and an optimum energy mix complementing national development scenarios.

But getting there requires a vast improvement in the infrastructure. This will require heavy investment not just from the government but from the private sector as well.

CAPACITY BUILDING

To ensure steady progress towards net zero, the country needs to take it one step at a time. In a recent report, Climake, an organisation working in the climate finance space, noted that adoption of renewable energy needs to accelerate. The year 2024 will mark the largest addition yet of non-fossil fuel energy capacity in India. “The 14.2 GW added in the first six months exceeds the 13.5 GW installed in 2023. But more is needed; annual installed capacity additions have to average 60GW by 2030,” the report said.

Besides, another problem that needs immediate attention is storage. That’s because the increase in green energy capacity does not automatically translate to a commensurate increase in green energy generation. In 2023, non-fossil fuel energy accounted for 45% of electricity capacity but only 24% of generation. India needs to upgrade its grid to balance renewable energy’s variability.