Net Zero Emissions
- October 14, 2021
- Posted by: OptimizeIAS Team
- Category: DPN Topics
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Net Zero Emissions
Subject – Environment
Context – India needs 5,630 GW solar capacity by 2070 for net zero emissions: study
Concept –
- India’s total installed solar power capacity will need to increase to 5630 gigawatt (GW) by 2070 in order to achieve net zero emissions, according to a new report by independent think tank Council on Energy, Environment and Water (CEEW).
- Consequently, the total corresponding land requirement for India’s power generation assets, especially solar, would be approximately 4.6 percent, says the report – titled ‘Implications of a Net-zero Target for India’s Sectoral Energy Transitions and Climate Policy’.
- At present, India has 100 GW of installed renewable energy capacity, of which solar comprises 40 GW, and it aims to enhance the RE capacity to 450 GW by 2030.
- The report further highlighted that in order to achieve net-zero by 2070, usage of coal, especially for power generation, would need to peak by 2040 and drop by 99 percent between 2040 and 2060.
- Further, consumption of crude oil, across sectors, would need to peak by 2050 and fall substantially by 90 percent between 2050 and 2070.
- Green hydrogen could contribute 19 percent of the total energy needs of the industrial sector.
- These insights assume that hydrogen will play an integral part in this transition, while Carbon Capture and Storage (CCS) technology would play a negligible role.
- The recent IPCC report released earlier this year has underscored the importance of achieving net-zero globally to limit the total rise in temperatures to 1.5-2 degrees in the coming decades.
- Further, if India were to attain net-zero emissions by 2070, then the economic cost of the transition could be around 4.1% of the GDP in the net-zero year. But, if India were to prepone the timeline to 2050, the economic cost would be much higher, around 7% in that particular year.
- More than 125 countries have expressed their willingness to achieve a net-zero future.
- Even though India is yet to commit to a net-zero target, it is the only G20 country to meet its emission reduction commitments made in the Paris Agreement.
- It is also a leading partner in the International Solar Alliance and has recently announced the National Hydrogen Mission to push the innovation, production, storage, and usage of green hydrogen.
To know more about Net-Zero Emissions, please click here.