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Source-This post on Nuclear power is key to development-IIM Ahmedabad Study is based on the article “Nuclear power is key to development, says study” published in “The Hindu” on 4th April 2024.
Why in the News?
A recent study by academics at IIM Ahmedabad stated that India must prioritize investment in the energy sector and expand related infrastructure if it aims to become a developed nation by 2047 and achieve net zero emissions by 2070.
About the IIM Ahmedabad Study
1. Funded by– Office of the Principal Scientific Adviser and the Nuclear Power Corporation of India.
2. Methodology applied:
a. The authors used mathematical models to figure out how much energy from different sources would be needed by 2030 and 2050 to achieve net zero emissions by 2070.
b. They also considered scenarios where India’s population reaches a human development index similar to Western European countries and the cost of energy access decreases.
What are the key findings of the Study?
1. Their calculations revealed that in the best-case scenario, emissions in 2070 would decrease to 0.55 billion tonnes of carbon dioxide, achieving a ‘net zero’ outcome.
2. This would require nuclear power to increase five times from current levels to 30 gigawatts (GW) by 2030 and 265 GW by 2050.
3. Between 2020 and 2070, India would require approximately Rs.150-200 lakh crore to fund these transformations.
Note– Currently, according to the Central Electricity Authority, solar energy constitutes 16% of India’s installed generation capacity, while coal accounts for 49%. Meanwhile, nuclear energy only makes up 1.6%.
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