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[January Free Report 2]India¡¯s Net Zero emissions by 2070

by Risav Ganguly | 13-02-2023 16:50



The international community has widely acknowledged India's deep commitment to the aspirational Climate Goals. Our ambition has been met by our accomplishments. India has the world's fastest-growing capacity for renewable energy. India has also emerged as one of the most appealing locations for renewable energy investments. Green hydrogen plays a crucial role in India's goal of becoming energy independent by 2047 and reaching net zero by 2070. India has the potential to produce Green Hydrogen for the entire world thanks to its extensive renewable energy resources. The National Green Hydrogen Mission's goal is to offer a comprehensive strategy for creating a Green Hydrogen ecosystem and triggering a systemic response to the opportunities and challenges presented by this emerging sector.

India has stated that by 2070, it will have achieved net zero emissions. India's demand for energy and resources is expected to rise as the country's growth story continues. In the past two decades, energy consumption has doubled, and it is expected to rise by at least another 25% by 20301. India currently imports more than 40% of its primary energy needs, at a cost of more than USD 90 billion annually. Imported fossil fuels are crucial to important industries like transportation and manufacturing. As a result, technologies that gradually reduce reliance on fossil fuels and increase the proportion of renewable sources in the energy mix must be adopted. Green Hydrogen, which is made from renewable energy, has the potential to be an important part of these economic pathways that are low in carbon and self-sufficient. Green Hydrogen can be used as a fuel or an industrial feedstock, allowing domestically abundant renewable energy resources to be utilized across sectors, seasons, and regions. Petroleum refining, fertilizer production, steel production, and other similar processes can all benefit from its direct replacement of fossil fuel-derived feedstocks. Long-distance automobiles and marine vessels powered by hydrogen can make mobility sector decarbonization possible. Green hydrogen has the potential to be particularly useful as a adaptable energy carrier for sustainable energy supply to remote regions, including islands. Hydrogen strategies have been declared part of broader climate and clean energy initiatives by numerous major economies. The majority of these national strategies aim to address the underlying issues of expanding green hydrogen production, expanding hydrogen use across sectors, developing technologies, and developing policies and regulations that make it possible. The government's funding and support for research and development, measures to increase demand, and financial assistance for manufacturing and infrastructure development are clearly highlighted.

Green Hydrogen and its derivatives will be in high demand as the global consensus toward Net Zero grows. Green Hydrogen and its derivatives, such as Green Methanol and Green Ammonia, are likely to be traded internationally as a result of the disparities in expected demand and production capabilities that exist in various nations and regions. The move toward green fuels and feedstock has been accelerated by fossil fuels' vulnerability to geopolitical upheavals and COVID-caused supply chain disruptions. India has a unique chance to become a major producer and exporter of green hydrogen and its derivatives by taking advantage of its abundance of renewable energy, land resources, and the rising global demand for green hydrogen.

As a result, a comprehensive and integrated approach will be used by the Government of India to carry out the Mission through a variety of Central and State Government agencies. The Mission's overall coordination will be the responsibility of the Ministry of New and Renewable Energy. In order to guarantee the achievement of the Mission's goals, the other Ministries and Departments will take specific actions.