India's Green Energy Revolution: Ambitious Targets and Initiatives
Key Ideas
  • India is shifting towards green energy to reduce emissions, improve public health, and achieve economic growth by aiming for 80% of energy production from non-fossil fuels by 2030.
  • The National Green Hydrogen Mission, with an outlay of Rs. 19,800 crores, aims to boost private sector investment, reduce production costs, and develop green hydrogen technology.
  • The government's initiatives include policy reforms, financial assistance for solar energy projects, and the promotion of green hydrogen production to make India a global hub for manufacturing hydrogen.
  • Budget 2024-2025 plans to strengthen domestic solar manufacturing, increase funding for green hydrogen, and promote the installation of rooftop solar plants in households, aiming for 1 crore installations.
India is undergoing a significant energy transformation with a focus on green energy to address climate change, reduce emissions, and foster economic growth. The country has set ambitious targets to shift towards renewable energy sources like solar and wind power. The Central Electricity Authority aims for half of the nation's electricity to come from clean energy sources by 2030. India has committed to the Paris Agreement's goals, including increasing non-fossil fuel manufacturing capacity, reducing emissions as a percentage of GDP, and creating more forests to counter CO2 emissions. The National Action Plan for Climate Change targets 80% energy production from non-fossil fuels by 2030 through missions promoting renewable energy like the National Solar Mission. The government provides financial assistance for solar projects and aims to generate 500 GW of green energy by 2030. Initiatives like waiving ISTS charges for solar and wind power projects and increasing allocation for green hydrogen demonstrate India's commitment to green energy. The launch of the National Hydrogen Mission (NHM) and the approval of the National Green Hydrogen Mission with an outlay of Rs. 19,800 crores highlight India's focus on green hydrogen production. The government aims to increase private sector investment, reduce production costs, and set up green hydrogen standards. Rules have been issued to maximize green hydrogen production through the SIGHT Programme. The 'Green Hydrogen Policy' offers incentives for green hydrogen production, such as time-bound clearances, power storage options, and production targets. The budget for 2024-2025 includes plans to boost green energy transmission, increase funding for the green hydrogen mission, install rooftop solar plants in households, and advance energy storage policies. India's efforts aim to promote green energy, stimulate economic growth, and safeguard the environment.
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