Date : 22/06/2023

Relevance – GS Paper 3 – Environment and Ecology – Clean Energy

Keywords: Coal dependence, renewable energy, climate change, greenhouse gas emissions

Context:

India's decision to halt the construction of new coal-fired power plants, except those already in progress, demonstrates its commitment to combat climate change and reduce greenhouse gas emissions. This move aligns with global trends of phasing out coal, improving air quality, reducing pollution, and enhancing energy security. India's heavy reliance on coal for electricity generation necessitates a transition to cleaner sources of energy.

What is India’s commitment toward Clean Energy?

By shifting away from coal and embracing renewable energy, India aims to achieve a target of 500 GW of installed renewable energy capacity by 2030 and attain net zero carbon neutrality by 2070.

Key points:

Significance of India's move:

• Highlights India's commitment to fighting climate change and reducing greenhouse gas emissions.
• Supports global efforts to transition away from coal and promote cleaner energy sources.
• Encourages the development of renewable energy and energy efficiency.
• Improves air quality and public health by reducing pollution from coal combustion.
• Reduces India's dependence on coal imports and enhances energy security.
• Aligns with India's renewable energy targets and the goal of net zero carbon neutrality.

Challenges in reducing coal dependence:

• Financial challenges faced by power distribution companies (DISCOMs) affecting the viability of renewable energy projects.
• Insufficient grid infrastructure and storage capacity for integrating variable renewable energy sources.
• Limited availability of domestic financing options for renewable energy projects.
• Lack of awareness and understanding among investors, small businesses, households, and rural communities regarding the benefits of renewable energy.

Way forward:

• Reforms in DISCOMs to enhance operational efficiency, revenue collection, and timely payments to generators.
• Strengthening grid infrastructure and storage capacity through investments in transmission and distribution networks, and deployment of battery storage and pumped hydro storage systems.
• Mobilizing domestic capital for renewable energy projects by developing financial intermediaries and instruments such as green bonds and green banks.
• Increasing information dissemination, capacity building, and technical assistance to promote the adoption of renewable energy solutions.
• Encouraging consumer engagement and awareness regarding the advantages of renewable energy.

Conclusion:

India's decision to halt the construction of new coal-fired power plants marks a significant step towards combating climate change, reducing pollution, and transitioning to cleaner energy sources. By embracing renewable energy and implementing necessary reforms and investments, India can achieve its renewable energy targets, improve energy efficiency, and contribute to global sustainability goals while ensuring a cleaner and more sustainable future.

Source – Down to Earth