TAG: GS 3: ECONOMY
THE CONTEXT: Recently, India surpassed Japan to become third largest solar power generator in 2023.
EXPLANATION:
- India’s journey in solar energy deployment has been remarkable, starting from the ninth position in 2015 to becoming the world’s third-largest solar power generator in 2023.
- This shift underscores India’s commitment to renewable energy and its significant strides in the solar sector over the past few years.
Global Solar Generation Trends:
- The Ember report highlights the global trend of exponential growth in solar generation, with 2023 witnessing solar production accounting for a record 5.5% of global electricity.
- Solar energy has maintained its position as the fastest-growing electricity source for the 19th consecutive year, outpacing coal in new electricity additions.
- India’s surge in solar energy deployment is notable, contributing significantly to global solar generation growth.
- In 2023, India witnessed the fourth-largest increase in solar generation worldwide, trailing behind only China, the United States, and Brazil.
- India’s per capita emissions from the power sector are just over half the global average and even further below the average in Asia.
- From representing merely 0.5% of India’s electricity generation in 2015, solar energy’s contribution surged to 5.8% in 2023.
- This substantial increase reflects India’s proactive measures to diversify its energy mix and reduce dependence on fossil fuels, aligning with its sustainable development and climate change mitigation goals.
- This growth underscores India’s pivotal role in driving the global transition towards renewable energy sources.
Policy and Climate Commitments:
- India’s accelerated transition to cleaner energy sources is bolstered by national policies and international climate commitments.
- The country aims to achieve 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, signaling a strong commitment to renewable energy adoption.
Global Climate Agenda and India’s Role:
- The United Nations’ COP28 conference witnessed a historic agreement to triple global renewable energy capacity by 2030.
- India’s commitment to tripling its renewable capacity aligns with this global agenda.
- The International Energy Agency emphasizes the crucial role of renewable energy expansion and energy efficiency improvements in limiting global temperature rise to 1.5 degrees Celsius.
Challenges and Future Outlook:
- Despite significant progress, meeting India’s ambitious renewable energy targets requires substantial capacity additions.
- Ember’s analysis underscores the need for accelerated efforts to ramp up annual capacity additions to meet the country’s renewable energy goals.
Global energy think tank Ember:
- Ember, formerly known as Sandbag, is an independent global energy think tank that uses data and policy to accelerate the clean energy transition.
- Headquartered in the UK, the organization was launched in 2008 by Bryony Worthington.
- Ember’s current focus is on producing research on global electricity trends and coal mine methane emissions, including analysis on the EU, India, Indonesia, Australia etc.
- They aim to shift the world from coal to clean electricity through data-driven insights and policy advocacy.
- In 2023, Ember reported that renewable energy sources accounted for a record-breaking 30.3% share of global electricity production, bringing the global target of tripling renewable capacity by 2030 within reach.
- The think tank’s analysis shows that continued growth in renewable energy is projected to result in a 2% decline in fossil fuel power production in 20245.
- Ember collaborates with various organizations and provides insights to policymakers and advocates to promote data-driven policies that accelerate the clean energy transition.
- The think tank’s work has been recognized for its impact in advancing policies that shift the world to a clean, electrified energy future
India’s targets to decarbonise Power generation
- To reduce the carbon intensity of the nation’s economy by less than 45% by 2030.
- Achieve 50 percent cumulative electric power installed by 2030 from renewables.
- Achieve net-zero carbon emissions by 2070.
- Aims for 500 GW of renewable energy installed capacity by 2030.