Continuous innovation and robust R&D essential for achieving energy transition goals

Technological advancements are necessary to address challenges in grid management, energy storage, renewable energy generation and industrial electrification.

- Shirish Garud

The global energy landscape is transforming, with energy transition emerging as a central theme in mitigating climate change. As carbon emissions significantly threaten humanity and the environment, countries worldwide commit to reducing their greenhouse gas (GHG) emissions. The Paris Agreement 2015 marked a turning point, with nations setting ambitious goals through Nationally Determined Contributions (NDCs). As one of the fastest-growing economies, India holds a crucial role in this global movement.

While historically, developed nations have contributed the most to cumulative carbon emissions, India is now among the top emitters due to its rapid economic growth. With a GDP growth rate of around 6-7 percent annually, the country’s energy consumption is escalating. Peak electricity demand has increased from 200 GW a few years ago to over 250 GW in 2023, with expectations to exceed 275 GW soon. India has committed to achieving 500 GW of renewable energy capacity by 2030 to address this rising demand sustainably.