NamasteIndia find it interesting to read inputs from PwC climates Bridging the gaps: Setting the stage for an orderly energy-system transition
1.Global Ambitions: Aggressive emission reduction goals highlight gaps in technology, infrastructure, and investment needed for an orderly energy transition.
2. Targets and Urgency: Governments and institutions aim for net-zero emissions by 2050, but there’s a significant gap between current emissions and targets.
3. Energy Consumption: The world consumes a staggering amount of energy, with rising demand due to economic growth.
4. Decarbonization: Reducing greenhouse gas emissions requires decarbonizing the global energy system.
5. Molecules and Electrons: Energy systems consist of molecules (hydrocarbons) and electrons (electricity). Constructing a reliable, affordable, and cleaner system is challenging.
6. Action Needed: Leaders must identify gaps, accelerate bridge construction, and marshal execution powers to achieve energy transition goals¹.
India’s strides in bridging the gaps for an orderly energy-system transition:
1. Advanced Energy Solutions: India targets clean hydrogen, energy storage, and carbon capture. By 2030, it plans to invest over $35 billion annually in these areas.
2. Renewable Growth: Surpassing 2030 goals, India embraces renewables through policies, subsidies, and incentives.
3. Battery Storage: Aiming for 47 GW/236 GWh capacity by 2031-32—equivalent to 80 large battery facilities.
4. Clean Hydrogen**: Targeting 5 MMT production capacity by 2030, with 40 GW electrolyzer capacity.
5. Carbon Capture and Aviation Fuels: Ambitious goals for 30 MMT carbon capture and 2 MMT sustainable aviation fuels by 2030.
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Originally published on LinkedIn on 2024-08-04 03:35:07: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7225705789414342657
