India's Green Hydrogen Economy: Accelerating Towards Net-Zero Emissions
Key Ideas
  • India's net-zero emission target of 2030 necessitates rapid growth in the green hydrogen sector to avoid substantial delays.
  • The government is focusing on key investment themes like energy efficiency, renewable energy, low-emission fuels, and sustainable mobility to drive the energy transition.
  • Challenges include disparity in returns between traditional fossil fuel companies and green energy enterprises, as well as the need to secure critical minerals for energy transition.
  • Recommendations include prioritizing power sector reforms, promoting energy-intensive industries, expanding energy-efficient solutions, and fostering green bond issuances for clean energy investments.
A report by S&P Global highlights the critical role of India's green hydrogen economy in achieving its net-zero emission target of 2030. The report emphasizes the urgent need for accelerated investments and policy support in the green sector to avoid significant delays in meeting emission goals. India's energy transition focuses on key investment themes like energy efficiency, renewable energy, low-emission fuels, and sustainable mobility. While the government has implemented a policy framework combining subsidies, mandates, taxes, and incentives to stimulate these sectors, challenges like the disparity in returns between traditional fossil fuel companies and green energy enterprises persist. India also aims to increase the share of gas in its energy mix to transition away from coal, recognizing the importance of 30 critical minerals for its energy transition and the need for power sector reforms. Recommendations include prioritizing reforms in the power sector, promoting energy-intensive industries, and expanding energy-efficient solutions. Developing robust manufacturing ecosystems for clean energy technologies and fostering green bond issuances are key to scaling up clean energy investments. Additionally, promoting decentralised renewable energy solutions and supporting research in off-grid technologies can address energy access challenges, especially in rural areas, through public-private partnerships.
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