“We feel that we need to bring the price of storage down and once the price of storage comes down, then pure economics of scale will edge out fossil fuel form of energy,” Singh told the global virtual conference attended by dozens of countries including world’s biggest energy consumers – including China, US and also EU countries.
International Energy Agency’s first Clean Energy Transitions Summit discussed how to bring about a sustainable and resilient recovery from the Covid-19 crisis and achieve a definitive peak in global carbon emissions.
“Our country has made a pledge that by 2030, 40 percent of our energy will come from fossil fuel. We are almost close to that at 38.5 percent.”
“This Summit proves that international dialogue and collaboration can bring great value. It was an opportunity to inform, support and inspire each other. Now, it is time for all of us to get to work – building back our economies, bringing our citizens back to work, ensuring that 2019 was the definitive peak in emissions and building towards the resilient and sustainable energy systems of the future,” said Fatih Birol, the IEA’s Executive Director who chaired the meeting.
Edited excerpts of Power Minister RK Singh’s comments:
“We are living through extraordinary times as mankind is facing its biggest challenges. We are looking at ahead recovery beyond this challenge although I don’t see clearly as to when we will overcome this challenge until unless a vaccine is successful and made available.
This story is from the July 2020 edition of Coal Insights.
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This story is from the July 2020 edition of Coal Insights.
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