| Introduction: Give a brief contextual introduction Body: Highlight challenges and measures in the transition from a fossil fuel-based energy policy to a green energy framework. Conclusion: Way forward |
India faces several key challenges in transitioning from a fossil fuel-based energy policy to a green energy framework.
Challenges
- Heavy Reliance on Fossil Fuels: Coal still dominates India’s energy mix, crucial for powering industries and homes. Shifting away from this established infrastructure requires significant investment.
- Storage Solutions: Unlike coal-fired plants, solar and wind power are intermittent. Efficient and cost-effective energy storage solutions like advanced batteries are needed to ensure consistent power supply.
- Grid Integration: Integrating large-scale renewable energy sources into the existing grid infrastructure poses technical challenges.
- Financing the Shift: Building new renewable energy plants and upgrading the grid requires substantial funds. Attracting private and international investment is crucial.
- Job Market Disruption: Transitioning from fossil fuels may lead to job losses in coal mining and related sectors. Reskilling and creating new opportunities in green industries are essential.
Balancing Energy Needs with Sustainability
- Diversifying Renewable Energy: India is well-positioned in the solar energy sector. Yet, investigating additional choices like biomass, hydropower, and wind can result in a more stable and dependable blend of renewable energy.
- Policy and Incentives: Feed-in tariffs and tax rebates are examples of government policies that encourage the generation of renewable energy and can serve as incentives for investment. Eg, the PLI scheme incentivizes domestic manufacturers.
- Technological Innovation: Long-term success depends on funding research and development of energy storage and renewable energy technologies.
- Public-Private Partnerships: Working together, the public and private sectors can draw funding and expedite the building of infrastructure.
- Just Transition: To facilitate the shift and open up new prospects in the green economy, support and skill-development initiatives for employees in the fossil fuel industry can be provided.
Conclusion
By addressing these challenges India can achieve long-term commitment to achieve net zero carbon emissions by 2070 to the shorter/medium term objectives of reducing carbon intensity of GDP and creating 500 GW of electricity generation capacity from non-fossil fuels by 2030.
