India’s Net Zero Strategy for 2070

COP27-27th Conference of Parties to the Framework Convention on Climate Change fixed further development of climate policies worldwide. India submitted an updated Nationally Determined Contribution along with the enlarged national climate goals, the most significant of which is that the non-solar renewable power generation capacity is planned to be increased to five times by 2030. Such commitments demonstrate that India is assuming a more active leadership role in combating climate change.

COP27 and The Path to Net Zero Strategic Plan

Net zero means to meet the net zero emission target. It simply means a level where there are emissions of greenhouse gasses in the atmosphere, which are being offset by the amount that is being sequestered. This may also be understood as the state wherein the greenhouse gasses being produced are taken out of the atmosphere. Accordingly, the strategic plan focuses on the following:

Net zero means walking the net zero emissions path. It signifies a state where greenhouse gas emissions are balanced by removals, achieving a net zero impact on the climate. This may also be understood as the state wherein the greenhouse gasses being produced is taken out of the atmosphere. Accordingly, the strategic plan focuses on the following:

• Renewable Energy Expansion: India has made rapid progress in both solar and wind, with a cumulative installed solar capacity of 87.2 GW and a wind power capacity of 46.65 GW. It stands 4th globally in Renewable Energy Installed Capacity (including Large Hydro), 4th in Wind Power capacity & 5th in Solar Power capacity.
• Energy Efficiency: Reducing energy use across sectors has an extremely critical role to play in reaching net zero. It aims to reduce its GDP emission intensity by 45% by 2030. Energy efficiency can help lower costs and increase competitiveness.
• Hydrogen Economy: India has visualized hydrogen as a clean energy carrier. An economy that can run on hydrogen will unleash new business opportunities and help bring down carbon emissions. It is expected to grow significantly in the coming decades, with the green hydrogen market projected to reach $8 billion by 2030 and $340 billion by 2050.
• Carbon Capture and Storage (CCS): Renewable energy has a central role in net zero; however, CCS will play a role in abating hard-to-abate sectors’ emissions.
• Sustainable Mobility: The enormous slash in emissions reductions in the transportation sector can be realized in two ways; market shift to electric cars and utilization of public transport. 

Implications for the Future

The government’s target covers all major economic sectors, and the country will need to take a number of steps in the future to achieve it, including:

• Switching to Low-carbon Technologies: India will need to move away from current production methods and build infrastructure to support green hydrogen production. 
• Increasing Renewable Energy: India aims to install 500 GW of renewable energy capacity by 2030, and its solar power capacity will need to increase to over 5,600 gigawatts by 2070. 
• Reducing Coal and Crude Oil Use: India will need to reduce its use of coal by 99% by 2060, and crude oil consumption will need to peak by 2050 and fall by 90% between 2050 and 2070. 

India will also need to mobilize over US $200 billion annually for the next 50 years to achieve its goal. The magnitude of the asset buildup and managing the transition’s human aspects will be the biggest challenge and opportunity for India’s economy in the coming decades.

Why Sunsure Energy?

Sunsure Energy is committed towards decarbonization and moving its clients towards the low carbon economy, to make them net zero emitters. This means that we are able to meet all service needs to accommodate renewable energy and we are able to connect all these services and create polymorphic or individually matching services for the customers. 

By partnering with us, Sunsure Energy, you can get:

• Efficiency and reduction of expenses related to the use of energy.
• Improved brand image and long-lasting investors.

Our specialists employ effective approaches in developing the project, securing the funding, installing the equipment, and maintaining the installment – all in one package to transition to clean energy.

Conclusion

India’s vision of achieving net zero is an exemplary pointer that calls for collective participation of every citizen. Businesses have a chance to enhance the standard of the environment because a low-carbon future implies choices that make sustainable the provision of goods and services, support clean technologies, and foster innovation for the development of a sound economy. Sunsure Energy has been privileged to be part of this process, to support organizations in their quest to reach net zero.