GREEN HYDROGEN: A CATALYST FOR INDIA’S ENERGY TRANSITION

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TAG: GS 3: ECOLOGY AND ENVIRONMENT

THE CONTEXT: In a recent report, the World Economic Forum (WEF) underscores the pivotal role of green hydrogen in India’s ambitious journey towards net-zero emissions by 2070.

EXPLANATION:

• The report highlights that green hydrogen not only caters to the burgeoning energy demands of key sectors but also emerges as a cleaner alternative, mitigating carbon emissions compared to traditional fossil fuels.
• It is produced through water electrolysis powered by renewable energy.

Green Hydrogen’s Potential Contributions to India’s Energy Mix

• The WEF analysis identifies sectors such as fertilizers, chemicals, refining, and iron as beneficiaries of green hydrogen.
• It offers a cleaner and more sustainable energy source.
• The versatility and flexibility of green hydrogen position it as a key player in India’s transition to cleaner energy sources.
• As the third-largest global economy in terms of energy needs, India faces a soaring demand for energy.
• It is projected to increase by 35% by 2030.
• The energy import bill, which stood at USD 185 billion in 2022, is poised to escalate if traditional methods continue to dominate energy supply.
• Green hydrogen emerges as a strategic solution to address this energy demand while adhering to the commitment made at COP26 to achieve net-zero emissions by 2070.

Challenges and Opportunities: National Green Hydrogen Mission

• Recognizing the critical role of green hydrogen, the Indian government launched the National Green Hydrogen Mission in early 2022.
• It has an ambitious target of producing 5 million metric tonnes per annum (MMTPA) of green hydrogen by 2030.
• The mission is backed by an incentive funding of approximately USD 2.3 billion distributed between 2022 and 2030.
• This initiative aims not only to accelerate green hydrogen production but also to transition from the prevalent use of grey hydrogen, produced with fossil fuels and associated CO2 emissions.

Environmental and Economic Benefits of Green Hydrogen

• The report emphasizes the environmental advantages of green hydrogen, stressing its capacity to reduce emissions in hard-to-abate sectors.
• By aligning with net-zero goals, green hydrogen becomes a critical component of India’s energy security framework.
• Additionally, the economic benefits of transitioning to green hydrogen include potential cost savings in sectors such as crude oil refineries and fertilizer production.

Renewable Energy Nexus: A Prerequisite for Green Hydrogen Production

• Crucial to the success of green hydrogen production is a robust supply of renewable energy for the electrolysis process.
• The report underscores the need for continued investment in renewable energy infrastructure to sustain the green hydrogen momentum and ensure its viability as a clean energy carrier.

Conclusion: Green Hydrogen – A Transformative Energy Solution for India

• As India grapples with surging energy demands and commits to net-zero emissions, green hydrogen emerges as a transformative solution.
• The WEF report signals the urgency of integrating green hydrogen into India’s energy mix.
• It underlines its potential to reshape the nation’s energy landscape, foster sustainability, and contribute significantly to global climate goals.
• The National Green Hydrogen Mission becomes a cornerstone in realizing this vision.
• It emphasizes the pivotal role of collaboration between government, industry, and international stakeholders in driving India’s green hydrogen transition.

FOR FURTHER INFORMATION, KINDLY REFER TO THE 4^TH JANUARY 2024 DNA ARTICLE.

SOURCE: https://economictimes.indiatimes.com/industry/renewables/green-hydrogen-can-enable-energy-transition-in-indias-net-zero-journey-wef-report/articleshow/106704024.cms?from=mdr