India's Green Energy Transition

With vehicle electrification picking up pace, the winds of change are sweeping the automotive industry. Electric vehicles (EVs) have become the buzzword in the climate space today, playing an important role in emission reduction and in achieving net-zero targets worldwide. Although EVs may seem to be a new-age technology, they indeed have a long-standing history. Here, we take a closer look at the historical twists and turns that shaped the electric mobility sector.

The state of Kerala is committed to sustainability, with aims to attain net-zero emissions by 2050 and meet 100% of its energy requirements though renewable energy (RE) sources by 2040. However, currently the state’s internal power generation meets only 30-35% of its energy requirements, while the rest is supplied by imports, predominantly sourced from coal-based resources. This scenario emphasises the need for understanding the state's energy dynamics and developing an actionable plan to reduce the dependence on thermal imports and enable a smooth RE transition.

The narrative on agrivoltaics (agriPV) primarily revolves around farmers, recognising their central role in integrating solar energy with agriculture. Increasing farmer incomes and other co-benefits is a critical component in any government plan for agriPV across the globe. However, in a country as diverse as India, it is crucial to explore innovative strategies for agriPV that go beyond the farmer-centric business model. In this context, engaging companies working in the agricultural space can be instrumental for the advancement of agriPV.

By 2030, India aims to source 50% of electric power from non-fossil fuels and reduce carbon emissions by 45% from 2005 levels. To achieve this target, the 2023 National Electricity Plan by the Central Electricity Authority (CEA) has estimated the need for 486 GW of variable renewables (solar and wind).

On August 25, 2023, Karnataka clocked the highest-ever peak demand for energy at 16,950 MW. This unusual surge (the state normally experiences peak demand in the summer months) was driven by factors such as escalated energy consumption due to the provision of free power up to 200 units/month to domestic consumers, poor rainfall leading to increased energy consumption by farmers, and heightened commercial and industrial activities within the state.

Public health is a fundamental pillar of society, with inextricable links to a country’s economic growth. For a service-, agriculture-, and manufacturing-driven economy like India with a population of over 140 crore, citizen welfare directly influences labour force participation and productivity.

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The Indian automobile industry is currently valued at USD 108 billion. The Government of India has undertaken considerable strides (through purchase subsidies and auto production-linked incentive scheme, among others) to facilitate the green transition of the well-established domestic automotive industry and promote EV uptake. As a result of such initiatives, more than 28 lakh EVs are plying on road as of July 2023.

As the global community once again converges at the Conference of the Parties (COP), the pivotal role of carbon markets in achieving the Paris Agreement's ambitious goal of limiting warming to 1.5 degrees Celsius takes center stage.

Decarbonisation of the transportation sector—the world’s second highest contributor to greenhouse gas (GHG) emissions—is critical to mitigate climate change. Most European and North American nations and China have settled on vehicle electrification as the best GHG reduction strategy.

The Government of India, too, has provided subsidies for electric cars (e-cars), but whether their adoption is the best way to decarbonise the transport sector requires further exploration.