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With <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> being the fastest-growing region for electricity consumption, it largely remains reliant on coal-based generation. Energy economists and experts believe the new draft national electricity policy (NEP) has a significant increase in installed solar power capacity plan by 2027 and 2030 and a downward revision of installed coal capacity when compared to Central Electricity Authority's Optimal Generation Capacity Mix report. The revisions seem to exceed commitments made by Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> at the COP26 climate summit in Glasgow last year. According to India's updated nationally determined contributions (NDCs), India aims to increase its total share of installed non-fossil capacity to 50 per cent by 2030. However, according to the draft electricity plan, India would have 57 per cent non-fossil capacity by 2027 and 68 per cent by 2032. Compared to the previous electricity plan of 2018, India was expected to have 150GW of installed solar capacity by 2027. The new draft electricity plan, released last week, increases this target by an additional 36GW to 186GW by 2027. According to Ember's <keyword id="14994629" type="General" weightage="50" keywordseo="electricity-data-explorer" source="Orion">Electricity Data Explorer</keyword>, India's renewable energy capacity has grown at an average growth rate of 19 per cent annually between 2016 and 2021. India increased its installed solar capacity by an average growth rate of 47 per cent annually between 2016 and 2021. Compared to double digit growth in solar power capacity expansion, wind power saw a single digit growth rate of seven per cent during this period. Although India has seen a double-digit increase in its renewable energy capacity increase in recent years, India has not been able to meet its 2022 target of 175GW of installed renewable capacity. It's current installed solar and wind capacity stands at 90GW. Responding to the new electricity draft, Shruti Sharma, Senior Policy Advisor with IISD's Energy program, said: "The NEP shows the targeted retirement of coal power plants from 2017 to 2022 has not achieved, and as a result, ambition has been slightly reduced for the next five years. This is an important challenge to resolve so that ambition can increase again. "Retiring uneconomic coal power can generate large financial benefits, while helping to meet sustainability objectives. "This year's NEP shows a slight increase in the anticipated coal capacity by 2032, alongside a very large increase in the share of renewables to ensure India meets its 500 GW clean energy target, and a battery storage target of 50 GW by 2030. This suggests India's direction of travel is still firmly towards clean energy. Energy companies can and should be exploring diversification into clean energy to help deliver on these scenarios." Saying draft electricity plan shows that India aims to bank on solar for most of its power needs, <keyword id="14994628" type="General" weightage="50" keywordseo="ieefa-energy-economist-vibhuti-garg" source="Orion">IEEFA Energy Economist Vibhuti Garg</keyword> told IANS this is a massive jump and looking at the double digit growth rate for solar in India for the last five years, India's solar industry looks set to boom. Setting a solar target of 333GW is a clear indication to India's manufacturing sector to invest in increasing domestic manufacturing capacity, <keyword id="196154" type="General" weightage="50" keywordseo="garg" source="Orion">Garg</keyword> added. <keyword id="2250603" type="General" weightage="50" keywordseo="sunil-dahiya" source="Orion">Sunil Dahiya</keyword>, an Analyst, the Centre for Research on Energy and Clean Air, said that the power requirement both in terms of peak demand and the total electrical energy has been revised down by roughly 10 per cent, following the similar trends in previous NEP versions, surprisingly the projected installed coal capacity requirement is kept nearly the same or increased to 239 GW from an earlier projection of 238 GW for 2026-27. "Such inconsistencies and a lack of comprehensive planning add to unnecessary capacity in the power generation mix and lead to surplus or stranded assets." Recommended stories <div type="Article" hostid="261" msid="94194674" title="India to assume G20 Presidency for one year from December 2022; host over 200 meetings and MEA lists priorities" mstype="2" mssubtype="0"><payload><![CDATA[alsosee]]></payload></div> <div type="Article" hostid="261" msid="94221107" title="NASA faces orbital debris threat, greatest challenge of our era" mstype="2" mssubtype="0"><payload><![CDATA[alsosee]]></payload></div>

Spike in solar, decline in coal, India witness transition in renewable energy

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> has an opportunity to establish itself as a climate leader by excluding gas and nuclear as part of its green taxonomy on the lines of the Europe, experts said on Thursday. Their reaction came a day later after the <keyword id="76115" type="General" weightage="80" keywordseo="european-parliament" source="Orion">European Parliament</keyword> after months of intense debate came out in favour of labelling investments in gas and nuclear power plants as climate-friendly. Out of 639 lawmakers, 328 opposed a motion that sought to block the EU gas and nuclear proposals. The <keyword id="59149" type="General" weightage="80" keywordseo="european-commission" source="Orion">European Commission</keyword>'s proposal to include gas in what was to be the "gold standard" of sustainable finance has been widely criticised by scientists, experts and academia, civil society and EU policy-makers, as well as voices from Ukraine. Strong opposition to the proposal came from members of the European Parliament (MEPs) from almost all political groups, who came together to vote to veto the European Commission's proposal. Lawmakers and member states are already preparing to continue their opposition. A group of MEPs is readying to continue the fight against the inclusion of gas in the EU taxonomy in court, on the grounds that the decision "is against primary legislation". Austria and Luxembourg have also previously announced their intention to take the decision to court. Civil society is also moving in this direction, with Greenpeace announcing a legal challenge, Client Earth exploring legal pathways and WWF looking into different types of action. Responding to the EU lawmakers backing gas and nuclear energy as sustainable, <keyword id="4412277" type="General" weightage="80" keywordseo="vibhuti-garg" source="Orion">Vibhuti Garg</keyword>, Energy Economist and India Lead, Institute for Energy Economics and Financial Analysis (IEEFA), told IANS: "India has an opportunity to establish itself as a climate leader by excluding gas and nuclear as part of its green taxonomy. "The green taxonomy won't prevent investment in gas if the projects themselves can establish their commercial viability but classifying them as green is not the right approach. Taxonomy should be robust and promote cleaner technologies. "There should be clarity to investors and developers what would be classified as green and there shouldn't be any dilution. India should be on the right side of climate change and lead other countries to invest in the right direction." <keyword id="14396772" type="General" weightage="80" keywordseo="dhruba-purkayastha" source="Orion">Dhruba Purkayastha</keyword>, Director, Climate Policy Initiative, said: "Getting gas included in sustainable finance with the caveat of shifting away from gas in the long term is in alignment with meeting the UN's 'sustainability' definition. "However, gas cannot be justified for climate finance as it isn't climate-friendly or green and may not help the EU in attaining its legal obligations to reduce GHG emission by 55 per cent by 2030, compared with 1990 levels." Critics are calling the EU decision "greenwashing" and say it could threaten the bloc's bid to become climate-neutral by 2050. ALSO SEE <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/european-parliament-backs-green-label-for-gas-and-nuclear-power/articleshow/92717509.cms">European Parliament backs green label for gas and nuclear power</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/towards-zero-hunger-odisha-tops-state-ranking-index-first-under-under-national-food-security-act-up-andhra-and-gujarat-also-score-high/articleshow/92705907.cms">Towards 'zero hunger': Odisha tops 'State Ranking Index' first under National Food Security Act; UP, Andhra, and Gujarat also score high</a>

'India can become climate leader by excluding gas, nuclear from green taxonomy'

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is projected to fall "well short" of its target for 2022 of having 100 gigawatts (GW) of installed solar capacity, largely due to slow uptake of rooftop solar, a new report by JMK Research and the Institute for Energy Economics and Financial Analysis (IEEFA) said on Tuesday. As of December 2021, India's cumulative installed solar capacity was 55GW, with grid-connected utility-scale projects contributing 77 per cent and the balance coming from grid-connected rooftop solar (20 per cent) and mini or micro off-grid projects (three per cent). With just eight months of 2022 remaining, only about 50 per cent of the 100GW target, consisting of 60GW of utility-scale and 40GW of rooftop solar capacity, has been met. Approximately 19GW of solar capacity is expected to be added in 2022 -- 15.8GW from utility-scale and 3.5GW from rooftop solar. "Even with this capacity addition, about 27 per cent of India's 100GW solar target would be unmet," says report co-author <keyword id="5005000" type="General" weightage="50" keywordseo="jyoti-gulia" source="Orion">Jyoti Gulia</keyword>, Founder, JMK Research. The report projects that by December 2022 there will be a 25GW shortfall in the 40GW rooftop solar target, compared to just 1.8GW in the utility-scale solar target. "Utility-scale solar capacity addition is on track. India is set to achieve nearly 97 per cent of its 60GW target," says <keyword id="13598083" type="General" weightage="80" keywordseo="gulia" source="Orion">Gulia</keyword>. "This makes it imperative to have a more concerted effort towards expanding rooftop solar." Headwinds ranging from pandemic-induced supply chain disruption to deeply rooted policy restrictions have impeded the growth of India's rooftop solar (onsite solar power) and open access solar (offsite solar) installations. "The anticipated 27GW shortfall from the 2022 solar target can be attributed to a string of challenges which are slowing overall progress on renewable energy targets," says co-author <keyword id="4412277" type="General" weightage="50" keywordseo="vibhuti-garg" source="Orion">Vibhuti Garg</keyword>, Energy Economist and Lead India, IEEFA. On the current trajectory, the report finds India's solar target of 300GW by 2030 will be off the mark by about 86GW. These challenges include: regulatory roadblocks; net metering limits; the twin burdens of basic customs duty (BCD) on imported cells and modules and issues with the Approved List of Models and Manufacturers (ALMM); unsigned power supply agreements and banking restrictions; financing issues plus delays in or rejection of open access approval grants; and the unpredictability of future open access charges. "Central and state government policies and regulations must be aligned to support the solar sector overall, and especially the ailing rooftop and open access segments of the market," says co-author Akhil Thayillam, Senior Research Associate, JMK Research. The report proposes short- and long-term measures to get India back on track to meet solar targets. The short-term measures include uniform policies to apply nationally for at least the next five years and consistent regulations for net metering and banking facilities, also to apply nationally. In the long-term, stricter enforcement of the renewable purchase obligation and improved financial health, and potentially privatisation, of distribution companies (discoms). In rooftop solar, state-level efforts such as Gujarat's Surya Scheme need to be replicated by other states in the short-term to help in boosting capacity, says Gulia. "It is also likely that the government, in the short-term, will push aggressively for expediting solar capacity addition to achieve the 100GW target by 2022 by re-allocating some of the unmet rooftop target to utility-scale generation." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/koo-founder-invites-elon-musk-after-he-turns-down-twitter-board-seat/articleshow/90780040.cms">Koo cofounder urges Elon Musk to work with Twitter’s rival in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/netflix-introduces-two-thumbs-up-for-shows-and-movies-you-really-really-like-and-want-to-see-more-of/articleshow/90783309.cms">Netflix introduces Two Thumbs Up for shows and movies you really, really like and want to see more of</a>

India likely to miss 2022 solar target by 27%, says report

The share of <keyword id="19922493" type="General" weightage="20" keywordseo="coal" source="keywords">coal</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s total <keyword id="19951338" type="General" weightage="20" keywordseo="power-generation-capacity" source="keywords">power generation capacity</keyword> dipped below 50 percent in the first quarter of 2024, the first time since the 1960s. The latest POWERup quarterly report from the Institute for Energy Economics and Financial Analysis (IEEFA) showed that <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> accounted for 71.5 percent of the record 13,669 megawatts (MW) power generation capacity added by India in the first quarter (January-March) of this year. Coal's share, including lignite, in India's total power generation capacity dropped below 50 percent for the first time since the 1960s. The report noted that the renewable energy trend is well ahead of India's target of achieving 50 percent cumulative power generation capacity from non-fossil fuel-based sources by 2030. The decline in coal's share of power generation capacity mirrors a global trend, with demand for coal in <keyword id="21487941" type="General" weightage="20" keywordseo="G7-countries" source="keywords">G7 countries</keyword> hitting record lows in 2023, levels not seen since 1900. To accelerate the transition, G7 countries pledged last month to phase out all unabated coal power generation by 2035, building on their commitment to halt all construction of new coal-fired power plants. The term "unabated" generally refers to the continued use of coal, oil, and gas without efforts to curtail emissions. At the United Nations' COP28 climate change conference in December last year, world leaders reached a historic agreement to transition away from planet-warming fossil fuels and triple the global renewable energy capacity by 2030. According to the report, a record 69 gigawatts (GW) of renewable energy tenders were issued in India in the fiscal year (FY) 2023-24, surpassing the central government's target of 50 GW per year. "After a downturn from 2019 to 2022 due to supply-chain issues and global price spikes brought on by the COVID-19 pandemic and Russia's invasion of Ukraine, the market has rebounded and gone from strength to strength," Vibhuti Garg, Director - South Asia, IEEFA, said. India has risen to third place in the world's solar power generation rankings, trailing only China and the US, according to Ember's fifth annual Global Electricity Review of 80 countries. Ranked ninth in 2015, India has now overtaken Japan, which, along with fellow G7 member Germany, has a persistently high demand for coal. Solar power generated a record 5.5 percent of global electricity in 2023, with India generating 5.8 percent of its electricity from solar last year. Solar remained the world's fastest-growing electricity source for the 19th consecutive year in 2023, adding more than twice as much new electricity worldwide as coal. India witnessed the world's fourth-largest increase in solar generation in 2023 (+18 terawatt hour or TWh), behind China (+156 TWh), the United States (+33 TWh), and Brazil (+22 TWh). Together, the top four solar growth countries accounted for 75 percent of growth in 2023. Solar's contribution to electricity generation in India surged from 0.5 percent in 2015 to 5.8 percent in 2023. According to the International Energy Agency's (IEA) "Net Zero Emissions" scenario, solar would make up 22 percent of global electricity generation by 2030. Given that electricity generation accounts for nearly half of India's annual carbon dioxide emissions (1.18 gigatonnes in 2023), accelerating the transition to cleaner generation sources is crucial for the country to meet both its developmental and climate goals. The IEA says tripling global renewable energy capacity and doubling energy efficiency are essential to limit the average temperature rise to 1.5 degrees Celsius, a political target set in 2015 to prevent further worsening of climate impacts. India is among the few countries aiming to triple renewable capacity by 2030. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tvs-iqube-gets-a-new-variant-priced-under-1-lakh-st-variant-gets-a-bigger-battery/articleshow/110121391.cms" target="_blank">TVS iQube gets a new variant priced under ₹1 lakh, ST variant gets a bigger battery</a><a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/qualcomm-snapdragon-8s-gen-3-chipset-to-debut-in-india-with-the-poco-f6/articleshow/110115537.cms" target="_blank">Qualcomm Snapdragon 8s Gen 3 chipset to debut in India with the Poco F6</a><a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/chatgpt-maker-openai-has-launched-gpt-4o-a-new-ai-voice-assistant/articleshow/110112039.cms" target="_blank">ChatGPT maker OpenAI has launched GPT-4o, a new AI voice assistant</a>

Coal's share in India's power generation capacity drops below 50% for 1st time since 1960s

<keyword id="6354780" type="General" weightage="100" keywordseo="karnataka" source="Orion">Karnataka</keyword> and <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> are the Indian states making the most progress in overall preparedness and commitment in the transition to clean electricity, a new joint report from the Institute for Energy Economics and Financial Analysis (<keyword id="1712672" type="General" weightage="20" keywordseo="ieefa" source="Orion">IEEFA</keyword>) and Ember showed on Monday. The report analyses 16 Indian states, which together account for 90 per cent of the country's annual power requirement, across four dimensions. The dimensions track a state's preparedness to shift away from fossil fuel-based power, its ability to incentivise greener market participation, its power system's reliability and policies pushing for power sector decarbonisation. Based on this analysis, the report authors devised the states' electricity transition (SET) scoring system, which measures the performance of the different states in the transition to clean electricity. India's revised Nationally Determined Contribution (<keyword id="66873" type="General" weightage="20" keywordseo="ndc" source="Orion">NDC</keyword>) targets have put the country on the right path for transitioning its electricity sector. To achieve those targets, the Centre now needs the cooperation of the states to move faster in their clean electricity transitions. This means states redoubling their efforts to walk the electricity transition pathway, and both Central and state governments tracking progress and taking corrective measures as required, says the report's co-author Vibhuti Garg, Director, South Asia, IEEFA. The report outlines focus areas for states to improve their preparedness for transition, such as exploiting wind and solar generation potential and deploying more energy storage solutions, such as batteries and pumped hydro, for better renewable energy integration. "Bihar, Uttar Pradesh and West Bengal have work to do to strengthen their clean electricity transition performances. These three states should maximise their renewable energy generation potential, and at the same time increase their commitment to moving away from fossil-fuels-based electricity," says co-author Saloni Sachdeva Michael, Energy Analyst, IEEFA. Apart from ramping up renewable energy capacity and storage, the report recommends that states take a multi-dimensional approach towards the clean electricity transition, which includes efforts on the demand side. With more renewable energy coming online, the report also recommends states focus more on strengthening their power systems. "Even the long-considered front-runners of adding renewable energy capacity, Rajasthan and Tamil Nadu, have to improve the readiness of their power ecosystems for a clean electricity transition," says co-author Aditya Lolla, Senior Electricity Policy Analyst, Ember. "State energy departments also need to strengthen electricity infrastructure for better integration of renewables. In addition to managing the demand and supply of electricity, ensuring effective utilisation, monitoring, and tracking of electrons is also very important," he adds. Further, according to Lolla, introducing private sector participation and competition would bring more capital and management expertise into the electricity sector. This will help enhance operational efficiency and increase accessibility and affordability. The report highlights increasing states' participation in green market mechanisms as a key element to the clean electricity transition. "We found limited participation of states in green market mechanisms like the Green Day Ahead Market (GDAM), Green Term Ahead Market (GTAM) and more," says Sachdeva Michael. "Developing a more robust market is an opportunity to support states with low renewable energy potential. To achieve this, states need to take urgent actions like removing banking restrictions and allowing banking of renewable energy not just monthly but also quarterly and yearly, especially for wind generation," she adds. The report also highlights that innovative bilateral financial markets mechanisms like Virtual Power Purchase Agreements (VPPA) and Contracts for Difference (CfD) have huge potential to open up the market and give buyers and regulators the required assurance on handling intermittent renewable energy generation. Another key aspect where states can do better is data availability and transparency. To monitor progress effectively and course-correct when necessary, the report calls for data availability and transparency improvement. Also, the report finds that the states need to develop a more holistic and circular approach towards handling solar panel, battery and electric vehicle waste. This will become even more crucial as India sets up new manufacturing units under the 'Atmanirbhar Bharat' (self-reliant India) scheme. Finally, the report highlights that several states must also bridge the gap between the intent of their electricity transition policies and their implementation. <h2>Recommended stories:</h2> <div type="Article" hostid="261" msid="98228328" title="Are the next-gen Hydrogen buses introduced by Olectric and Reliance already better than current BMTC e-buses?" mstype="2" mssubtype="0"></div>

Karnataka, Gujarat ranked best performing Indian states in clean energy transition efforts: IEEFA

<keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> saved USD 4.2 billion in fuel costs through solar generation in the first half of 2022 and 19.4 million tonnes of coal which would have further stressed an already strained domestic supply, according to a new report released on Thursday. The report by energy think tank Ember, the Centre for Research on Energy and Clean Air and the Institute for Energy Economics and Financial Analysis also analysed the growth of solar power over the last decade and found that five of the top 10 economies with solar capacity are now within <keyword id="21718" type="General" weightage="50" keywordseo="asia" source="Orion">Asia</keyword>, including India, China, Japan, <keyword id="5565" type="General" weightage="50" keywordseo="south-korea" source="Orion">South Korea</keyword> and Vietnam. The contribution of solar generation in seven key Asian countries -- India, China, Japan, South Korea, Vietnam, the Philippines and Thailand -- avoided potential fossil fuel costs of around USD 34 billion from January to June 2022, the report said. This is equivalent to 9 per cent of total fossil fuel costs during this period, it added. "In India, solar generation avoided USD 4.2 billion in fuel costs in the first half of the year. It also avoided the need for 19.4 million tonnes of coal that would have further stressed an already strained domestic supply," the report stated. The report finds that the majority of the estimated USD 34 billion savings are in China, where solar met 5 per cent of the total electricity demand and avoided around USD 21 billion in additional coal and gas imports during the period. Japan saw the second-highest impact, with USD 5.6 billion in avoided fuel costs thanks to solar power generation alone. Vietnam's solar power avoided USD 1.7 billion in additional fossil fuel costs, a sizable growth from nearly zero terawatt hours of solar generation in 2018. In 2022, solar accounted for 11 per cent (14 TWh) of the electricity demand from January to June. The report said that in Thailand and the Philippines, where the growth in solar has been slower, the avoided fuel cost is still notable. While solar only accounted for 2 per cent of Thailand's electricity in the first six months of 2022, an estimated USD 209 million of potential fossil fuel costs were avoided, it added. The Philippines avoided USD 78 million in fossil fuel spending, despite solar accounting for only 1 per cent of generation. In South Korea, solar power generated 5 per cent of the country's electricity in the first half of the year, avoiding potential fossil fuel use costing USD 1.5 billion, as per the report. CREA's <keyword id="53564" type="General" weightage="50" keywordseo="southeast-asia" source="Orion">Southeast Asia</keyword> Analyst <keyword id="15477249" type="General" weightage="50" keywordseo="isabella-suarez" source="Orion">Isabella Suarez</keyword> said Asian countries need to tap into their massive solar potential to rapidly transition away from costly and highly-polluting fossil fuels. The potential savings from existing solar alone are enormous, and expediting their deployment alongside other clean energy sources such as wind, will be crucial for energy security in the region. While ambitious targets are important, follow through will be the key thing to watch moving forward, she said. Vibhuti Garg, Director of South Asia at the Institute for Energy Economics and Financial Analysis said reliance on imports of coal and gas in the last few months has proven to be expensive and unreliable. "Transition to renewable energy such as solar can help reduce the overall system costs and also reduce the burden to consumers by lowering tariffs. For energy security and economic reasons, it makes sense for India and the rest of Asia to redirect investments towards building the renewable energy ecosystem," she said. Aditya Lolla, the Senior Electricity Policy Analyst at EMBER, said India's solar power push in recent years has not only improved its energy security but also positioned its power sector well to embark on a solar revolution. "India seems to be very bullish on solar power growth in the next 10 years too, as evident from the new draft National Electricity Plan. So, it's looking very likely that the 2020s is when solar power is going to finally ramp up in India and begin India's coal phasedown journey," he said. 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India saved over USD 4 bn in fuel costs through solar power from Jan to June: Report

Soaring requirement for electric vehicles as well as energy storage applications in India are necessary drivers for the government of India to commit to serious investment in lithium-ion battery manufacturing in Budget 2022-23, finds a new report from JMK Research and the Institute for Energy Economics and Financial Analysis (IEEFA). India's transition to a future powered by clean, affordable, and reliable <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> is underway, yet critical battery storage is still an expensive imported technology. Report co-author Vibhuti Garg told IANS battery storage can help India transition by storing excess renewable energy when it is not needed and then discharging it when it is. "In addition, batteries can also provide essential grid services," says Vibhuti. "In Budget 2022-23, the government must offer essential funding for domestic manufacturing of lithium-ion batteries (LiB) as well as, for instance, offering duty rebates in sourcing the raw materials for LiB manufacturing." India is expected to be the world's largest automotive market by 2026. The report finds automotive applications will account for 90 per cent of LiB demand, with annual capacity growing nearly 50-fold -- from 2.3 gigawatt hours (GWh) in financial year (FY) 2021 to 104GWh by FY 2030. The growth for non-automotive applications is almost as spectacular, from 0.3GWh to 12GWh in the same period, applied to telecom towers, data centres, grid-scale renewable energy integration, and rooftop solar, as well as newer areas, including material handling and power tools. The second phase of the Faster Adoption and Manufacturing of Hybrid and EV scheme (FAME-II), which aims to increase adoption of EVs and specifically electric two- and three-wheelers, is driving battery localization requirements and the setting up of battery assembly plants in India. The PLI Advanced Chemistry Cell (ACC) scheme is a step towards local cell manufacturing. Furthermore, the government's renewable energy targets will make stationary storage a significant contributor to this growth, says co-author of the report, Jyoti Gulia. "Adding 450 gigawatts of renewables by 2030 will need 136 gigawatt hours of battery storage. India is poised to become a key LiB consumer," she says. The report also highlights the challenges for battery pack and cell manufacturing in India, primarily the reliance on imports for key raw materials, the lack of safety standards in place, and the dearth of local technological know-how. "End-use customers are wary of the quality of local assemblers' packs, battery management systems (BMS), and the associated safety issues. There are lucrative opportunities, but current and potential players must be prepared for massive investments and low profit margins," says co-author, Neha Gupta. LiB technology has superseded lead-acid batteries in mobile and stationary applications alike, its growth encouraged in part by government of India support allowing 100 per cent foreign direct investment (FDI) and mandating domestic manufacture of battery packs. The government further boosted manufacturing via the Production-Linked Incentive (PLI) scheme, as part of which, investments of over Rs 450,000 m ($6,120 m) for 50GWh of capacity is planned. India has huge cost opportunities in terms of cheap labour and power. Cell manufacturing costs in India, as of 2020, were the lowest ($92.8/kWh) when compared with the US, European nations, and even China ($98.2/kWh) and South Korea ($98.1/kWh). Because of the lack of availability of key minerals and metals in India, the report also suggests battery recycling as a solution to meet surging LiB demand, recovering 80-90 per cent of lithium, cobalt, nickel, manganese and graphite and putting India on the path to a circular economy. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/railways-stocks-rally-on-expectation-of-strong-budget-allocation-to-the-sector/articleshow/89173796.cms">Railway stocks have been buzzing for the last one month on expectation of significant budget allocation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/the-indian-government-has-spent-less-than-half-the-money-it-had-budgeted-for-capital-investments-so-far/articleshow/88852518.cms">The Indian government has spent less than half the money it had budgeted for capital investments, so far</a>

Budget 2022 needs to maximise on lithium-ion battery manufacturing for rising EV demand

The <keyword id="6355512" type="General" weightage="50" keywordseo="union-cabinet" source="Orion">Union Cabinet</keyword> on Wednesday approved <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s updated Nationally Determined Contribution (<keyword id="66873" type="General" weightage="100" keywordseo="ndc" source="Orion">NDC</keyword>) under the Paris Climate Agreement. According to the updated NDC, India now stands committed to reducing the emissions intensity of its GDP by 45 per cent by 2030, from the 2005 level, to achieve about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 and to put forward and further propagate a healthy and sustainable way of living based on traditions and values of conservation and moderation. At the 26th session of the Conference of the Parties (COP26) to the United Nations Framework Convention on Climate Change (UNFCCC), held in Glasgow last November, Prime Minister <keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword> proposed a five-fold strategy for India to play its part in helping the world get closer to 1.5 degrees Celsius. On October 2, 2015, India submitted its NDC to the UNFCCC. The 2015 NDC had eight goals; three out of eight have quantitative targets up to 2030. These were: cumulative electric power installed capacity from non-fossil sources to reach 40 per cent, reduction of the emissions intensity of GDP by 33 to 35 per cent compared to 2005 levels, and create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through other forest and tree cover. Responding to the updated NDC, R.R. Rashmi, Distinguished Fellow, TERI, said: "The decision by India to update its NDCs in full line with the PM's Glasgow announcements. "It reaffirms the ambition and puts sustainable development at the centre of the debate. India does not envisage sectoral emission reduction obligations as part of its NDC until 2030. The NDC does not bind it to any sector-specific mitigation obligation or action. "On the other hand, it rightly emphasises the value of a sustainable way of living as an effective and just solution to the problem of climate change. It has also removed a lingering doubt by clarifying that 50 per cent of energy by 2030 is to be counted in non-fossil fuel-based electricity production." Aarti Khosla, Director of Climate Trends, told IANS, "Only a part of what was announced in Glasgow now gets enshrined in India's NDC. The target of having 50 per cent installed capacity of non-fossil fuel-based targets by 2030, compared with the 40 per cent non-fossil fuel-based targets we have today, shows that while the direction of travel is good, the pace could have been faster. "The formal submission also doesn't include the target of 500GW of non-fossil based and 450GW of renewables-based energy, which has often been discussed as the country's stated ambition on climate targets." Madhura Joshi, Senior Associate, India Energy Transition Lead, E3G, said: "At COP26, Prime Minister <keyword id="6354642" type="General" weightage="50" keywordseo="modi" source="Orion">Modi</keyword> announced ambitious Panchamrits focussing on actions required this decade to meet India's development needs and secure a low carbon future. "These included 500GW of non-fossil fuel capacity, 50 per cent of installed renewables capacity, reducing one bn tonnes of CO2 emissions, 45 per cent emissions intensity reduction over 2005 levels by 2030, and achieving net-zero emissions by 2070. "India's updated NDC targets are a welcome move and include 50 per cent of non-fossil fuel capacity and 45 per cent emissions intensity reduction by 2030. These targets, while lower than the panchamrits, are actionable. A reiteration of the renewables focus would have provided a fresh impetus for the renewables sector." For Vibhuti Garg, Energy Economist and India Lead, Institute for Energy Economics and Financial Analysis, "India's updated NDC does not include all the 'panchamrita' promises made at COP26 in Glasgow. India needs more demand side and supply side push."

Climate change: Cabinet approves India's updated NDC under the Paris Climate Agreement

New Delhi, Feb 1 (PTI) The proposal to issue green bonds in the Union Budget 2022-23 announced on Tuesday to mobilise resources for green infrastructure and the stress on energy transition to combat climate change, have won the government praises from environmental experts who said the initiatives will help reduce the carbon footprint of India. Experts hailed the budget for its focus on sustainable urban planning and mass transport saying the high-level committee of urban planners, economists and setting up institutions for capacity building is a welcome step. Union Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 on Tuesday while announcing several climate action initiatives like energy transition, issuing of green bonds, sustainable urban planning and others. Dr Anjal Prakash, Research Director and adjunct Associate Professor at the Bharti Institute of Public Policy, Indian School of Business, said that for climate action, "this budget fairs quite well." "The focus on sustainable urban planning and mass transport is a welcome step. It is estimated that half of Indians will be living in urban areas by 2050. The high-level committee of urban planners, economists and setting up institutions for capacity building is a welcome step. I hope that the planners will recommend urban infrastructure to be climate-resilient as many Indian cities are prone to climate-related risks and disasters," he said. Prakash, who is also the lead author of the chapter on cities, settlements, and critical infrastructure and a cross-chapter paper on mountains as part of IPCC's 6th Assessment cycle, also said that the green bonds will help reduce India's carbon intensity. "Announcing a climate action fund is a welcome step where the government's share is a maximum of 20 per cent and the rest is by the private parties. The Green Bonds for mobilising green infrastructure will be used for projects that will help reduce India's carbon intensity. The allocation for renewable energy and energy storage technologies such as solar modules are another area that needs applause," he said. Sharing a similar view, Chirag Gajjar, Head of Subnational Climate Action, Climate Program, World Resources Institute India (WRI India), said that access to green bonds will enable local governments to cost-effectively finance basic public infrastructure projects that will lead to climate co-benefits. Focus must be on building capacity of local governments to access such finance avenues, he said. Another expert said that India will now join a select group of countries, primarily European, which have issued Green Bonds. "The budget proposal to issue sovereign green bonds has several benefits, principal among which is signalling the country's seriousness in pursuing climate action. "India will now join a select group of countries, primarily European, which have issued such bonds. We can also expect this move to catalyse the development of the domestic corporate green bond market," said Gagan Sidhu, Director, Council on Energy, Environment and Water-Centre for Energy Finance (CEEW-CEF). In her budget speech, the finance minister announced that as a part of the government's overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilizing resources for green infrastructure. "The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy," Sitharaman said. Lauding the move, Aarti Khosla, Director, Climate Trends, said that the mention of green bonds as part of overall market borrowings is a good step to raise funds for projects ear- marked as green infrastructure. Khosla also said that the budget strongly acknowledged climate change and clean energy transition, adding that it all needs to be placed properly in policy and regulation. "It was perhaps the first Union Budget to acknowledge climate action in it's opening statement. The budget seemed to acknowledge clean energy transition as a fundamental principle- there was mention of clean tech solutions, battery swapping policies, improving EV efficiency, finalising the Rs 19500 cr PLI scheme for solar as a way to move ahead on low carbon strategy," Khosla said. Ulka Kelkar, Director, Climate, World Resources Institute India (WRI India), said that by referring to climate action as a sunrise sector and employment generator, the Budget has sent an important signal to markets, financial institutions and the workforce. "Biomass pellets, energy efficient buildings, coal gasification and agroforestry are just the start of the transition to a carbon-neutral economy. The upcoming green hydrogen mission and circular economy action plans can initiate a deep shift towards industrial decarbonization," Kelkar said. S N Tripathi, Steering Committee Member, National Clean Air Programme (NCAP), said that by fundamentally focusing on clean and sustainable development, the budget has focused on three major sectors: transport, energy and agriculture with an aim to reduce both- carbon dioxide and air pollution emissions - which augur well for clean air programs in the short term and achieving carbon neutrality in the long term. However, Vibhuti Garg, Energy Economist, Lead India, Institute for Energy Economics and Financial Analysis, said the announcements seem to have fallen short of promoting clean energy in an accelerated manner. PTI AG RCJ RCJ

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