INDIA ENERGY WEEK: 2024
Context: At the opening of the second India Energy Week 2024 on the grounds of the IPSHEM ONGC Training Institute, the Prime Minister declared that India’s energy consumption would double by 2045 and outlined plans to keep up with the increasing demand.
INDIA ENERGY WEEK 2024:
India Energy Week 2024 is set to occur in Goa from the 6th to the 9th of February. This event is pivotal for advancing India's ambitions towards an energy transition, representing the nation's most significant and all-encompassing energy expo and symposium. It aims to unite the entire spectrum of the energy sector.
The 2024 edition of IEW is dedicated to supporting and incorporating entrepreneurs into the energy ecosystem as a primary goal.
It was highlighted at IEW that India stands as the third-largest user of energy, oil, and liquefied petroleum gas (LPG), in addition to being the fourth-largest importer and processor of LNG.
The focus on fostering collaboration and exchanging knowledge on sustainable energy practices underscores India's dedication to global energy cooperation.
The establishment of the ONGC Sea Survival Center as an Integrated Sea Survival Training Center aims to elevate sea survival training in India to world-class standards. The center intends to train 10,000 to 15,000 employees annually through intensive simulation-based exercises.
Current energy scenario:
India has reduced petrol prices and achieved 100% electricity coverage despite global challenges.
A significant part of the Rs 11 lakh crore from the Union Budget for infrastructure will boost the energy sector, including homes and transportation infrastructure, encouraging higher energy production.
Government initiatives have increased the domestic gas output by aiming to raise its share in the energy mix from 6% to 15%, with a $67 billion investment planned over the next 5-6 years.
Ethanol blending in petrol has risen from 1.5% in 2014 to 12% in 2023, reducing carbon emissions by 42 million metric tons, aiming for 20% blending by 2025.
The government plans to establish 5,000 compressed biogas plants to support rural economies.
India, home to 17% of the global population, contributes only 4% to global carbon emissions and aims for "Net Zero Emission" by 2070.
Solar energy capacity has increased more than twentyfold.
Significant advancements in the green hydrogen sector are being made under the National Green Hydrogen Mission, setting India on the path to becoming a leader in hydrogen production and export.
Ethanol Blending Initiative:
The ethanol blending program stands as a critical initiative by the government towards achieving self-sufficiency in energy (Atma Nirbharta)
E20, a fuel mixture with 20% ethanol, is targeted for nationwide adoption by 2025, aiming to incorporate 20% ethanol across all fuel varieties.
Progress Achieved:
Since the 2013-2014 period, ethanol production capacity has expanded sixfold, a testament to the government's dedicated efforts.
The Ethanol Blending Program and Biofuels Program have not only bolstered India's energy independence but have also yielded additional benefits, including a reduction of 318 lakh metric tons in CO2 emissions and foreign exchange savings of around Rs 54,000 crore.
Green Mobility Rally Objectives:
Green mobility refers to the adoption of sustainable and environmentally friendly transportation methods to reduce carbon emissions and safeguard the environment.
The Green Mobility Rally aimed to enhance awareness about renewable fuels among the public. It featured 57 vehicles powered by renewable energy sources such as E20, E85, Flex Fuel, Hydrogen, and Electric vehicles.
National Green Hydrogen Mission:
The mission seeks to promote the commercial development and international exportation of green hydrogen, positioning India as a global leader in the green hydrogen sector.
Key Features of the Mission:
Facilitation of demand creation, production, utilization, and exportation of green hydrogen.
Financial support for domestic production of green hydrogen and electrolyzers through the Strategic Interventions for Green Hydrogen Transition Program (SIGHT).
Development of designated states and regions as Green Hydrogen Hubs, supporting large-scale hydrogen production and usage.
Objectives:
By 2030, India's goal is to establish a green hydrogen production capacity of at least 5 million metric tons per year, alongside augmenting its renewable energy capacity by approximately 125 gigawatts.
The mission is expected to generate six lakh jobs, attract investments exceeding Rs 8 lakh crore, and significantly contribute to environmental sustainability by cutting nearly 50 MT of annual greenhouse gas emissions.
Furthermore, it aims to achieve a substantial reduction in fossil fuel imports, amounting to a savings of over Rs 1 lakh crore.
India’s Initiatives for Power Generation from RE Sources:
1.National Solar Mission (NSM)
The four components of the 100GW solar power capacity are as follows:
a) 40 GW of solar energy generated on rooftops.
b) 60 GW of large and medium-sized grid-connected solar installations.
c) To reach 20 million solar thermal collector square meters by 2022, up from 15 million by 2017.
d) By 2022, install 20 million solar-powered lighting systems in rural regions.
2. PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan)
Scheme is to meet India’s commitment to raising the share of electricity produced from non- fossil fuel sources while simultaneously offering farmers in the nation energy security.
In line with India’s Intended Nationally Determined Contributions (INDCs) to mitigate climate change, the initiative seeks to attain a 40% share of installed capacity from renewable energy sources by 2030.
By encouraging the installation of solar pumps, grid-connected power plants, and solarization of already-existing agricultural pumps, this project helps farmers become less dependent on non- renewable energy sources and improves their standard of living.
3. Atal Jyoti Yojana (AJAY) Phase-II
In September 2016, the AJAY program was introduced to build solar street lighting (SSL) systems in states where, according to the 2011 Census, less than 50% of houses were connected to the grid.
4. Solar Parks Scheme
Across multiple states, the Solar Park Scheme aims to construct several solar parks, each with a capacity of approximately 500 MW.
India’s move from coal to clean energy is a positive development that will help the nation achieve its goal of net zero emissions by 2070.In order to create creative approaches and tactics that can aid in overcoming these challenges, governments and businesses in the private sector must cooperate. Because of its immense size and tremendous growth and development potential, India’s energy demand is predicted to rise more than any other nation’s in the ensuing decades.
