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21st June 2024 (11 Topics)

2023 Statistical Review of World Energy

Context

The recently released Energy Institute’s Statistical Review of World Energy shows that energy emissions rose by 2% in 2023, surpassing 40 gigatonnes of CO? equivalent for the first time.

Global Energy Consumption and Emissions

  • Overall Increase: Global primary energy demand reached a record 620 Exajoules (EJ), marking a 2% increase from 2022 despite efforts to reduce fossil fuel dependency. Emissions intensified within the fossil fuels category, driven by rising oil and coal use alongside stable gas emissions.
    • 1EJ is equivalent to about 170mn barrels of oil.
  • Fossil Fuel Dominance: Fossil fuels constituted 5% of the global energy mix, despite a slight decrease from the previous year.
  • Regional Shifts: In Europe, fossil fuel use dropped below 70% for the first time since the industrial revolution.
  • Renewable Energy Growth
    • Record High: Renewable energy generation (excluding hydro) surged by 13% to a new high of 4,748 terawatt-hours (TWh).
    • Increased Share: Renewables now account for 8% of the global energy mix excluding hydro, up from 7.5% in 2022.
  • Oil Consumption and Production
    • Historic Milestone: Global oil consumption exceeded 100 million barrels per day (bpd) for the first time.
    • Supply Dynamics: Non-OPEC+ producers, notably the U.S., drove oil supply growth with a 9% increase in output.
  • Natural Gas and LNG
    • Stability in Production: Global gas production and consumption remained stable, with LNG supply rising by nearly 2%.
    • Leadership Shift: The U.S. surpassed Qatar as the leading global LNG supplier.
  • Coal Consumption
    • Continued Growth: Coal consumption hit a new high of 164 EJ, driven by increases in China and India.
    • Regional Comparison: India’s use of fossil fuels climbed 8 per cent, with its coal consumption overtaking the combined use in North America and Europe for the first time.

Fact Box: India’s Energy Demand and Infrastructure:

  • India is the world's third-largest energy consumer. Electricity accounts for 34 per cent of India’s total GHG emissions.
  • The country has achieved an installed capacity exceeding 400 GW, leveraging a mix of traditional fuels like coal, oil, and gas, alongside renewables such as solar, wind, biomass, and hydroelectric power.

  • India’s Climate Commitments
    • Net Zero by 2070
    • India aims to reduce its emission intensity by at least 45% from 2005 levels by 2030.
    • At least 50% of the country’s total electricity will come from renewable sources by 2030.
  • As of May 2024, Renewable energy sources, including large hydropower, have a combined installed capacity of 193.57 GW.
  • Installed capacity for Renewables:
    • Wind power: 46.42 GW
    • Solar Power: 84.27 GW
    • Biomass/Co-generation: 10.35 GW
    • Small Hydro Power: 5 GW
    • Waste To Energy: 0.59 GW
    • Large Hydro: 46.92 GW
  • India’s initiatives:
    • Electric Mobility and Vehicle Scrapping Policy: India has launched the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles Scheme to accelerate the transition to electric vehicles (EVs).
    • Green Hydrogen Production: India plans to establish a green hydrogen electrolyzer gigafactory in Bangalore, capable of producing 20 million tonnes (MT) of green hydrogen annually by 2030 at $1 per kilogram, valued at $20-25 billion.
    • Transportation Revolution: To achieve Net Zero Emissions by 2070, India is focusing on enhancing "walkability," public transportation, rail networks, roads, and improving vehicle efficiency.
    • Electric Vehicles (EVs): Aligned with global climate goals under the Paris Agreement, India supports the EV30@30 campaign, aiming for a 30% EV sales share by 2030.
    • Ethanol Blending in Petrol: India has advanced its target of 20% ethanol blending in petrol to 2025, aiming to reduce petroleum-related pollution.
    • 100% FDI is allowed for renewable energy generation and distribution projects subject to provisions of The Electricity Act 2003.
  • Transition to Renewable Energy: Despite fossil fuels dominating the power sector, India has set ambitious goals to increase the share of renewable and nuclear energy.

Related PYQ

Q1: The question of India’s Energy Security constitutes the most important part of India’s economic progress. Analyze India’s energy policy cooperation with West Asian Countries.  [2016]

Q2: Give an account of the current status and the targets to be achieved pertaining to renewable energy sources in the country. Discuss in brief the importance of the National Programme on Light Emitting Diodes (LEDs). (2016)

Q3: Clean energy is the order of the day.’ Describe briefly India’s changing policy towards climate change in various international for in the context of geopolitics.  [2022]

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