PM recently addressed a post-budget webinar on 'Energy for Sustainable Growth’.
About the webinar:
PM addressed a webinar on 'Energy for Sustainable Growth' for 2022.
This is ninth webinar in the series of post-budget webinars addressed by the Prime Minister.
It was attended by the ministries of external affairs, coal, power, petroleum and natural gas, environment, and new and renewable energy.
Key takeaways from webinar:
'Energy for Sustainable Growth' is inspired by our ancient traditions and is also the means to fulfil the needs and aspirations of the future.
India has a clear vision that sustainable growth is possible only through sustainable energy sources.
In Glasgow, India committed to reach net-zero (emissions) by 2070.
In COP26, India focussed on ‘LIFE Mission’ to promote a sustainable lifestyle by putting forward the vision of Lifestyle for Environment.
India is also leading global collaborations such as the International Solar Alliance.
India has a target for non-fossil energy capacity is 500 GW.
By 2030, India will achieve 50 percent of our installed energy capacity from non-fossil energy.
In budget 2022-23, 19,500 crore rupees have been announced for high-efficiency solar module manufacturing in the direction of solar energy.
This will help in making India a global hub in the manufacturing and R&D of solar modules and related products.
National Hydrogen Mission: India has an inherent advantage in the form of abundant renewable energy power.
India can become the hub of Green Hydrogen in the world.
The hydrogen ecosystem is interconnected with the fertilizer, refinery and transportation sectors.
This is an area in which the private sector should promote innovations so that India's full potential can be utilized.
Battery swapping policy and interoperability standards: Energy storage is a big challenge with renewable energy.
In order to find solutions, priority has been given to this year’s budget to maintain growth in the storage capacity.
Provisions have also been made in this year's budget regarding battery swapping policy and interoperability standards.
This will reduce the problems faced by electric vehicles in India.
Plug-in charging takes more time and is costly also.
Since a battery costs 40-50% of the total value of an electric vehicle, swapping will reduce the upfront cost of an electric vehicle.
Coal gasification is a clean alternative to coal. In budget 2022-23, for coal gasification, 4 pilot projects have been announced which will help in firming up technical and financial viability of these projects.