The India Energy Hour Presented by 101Reporters Get Ready for India's Clean Energy Boom: Hitting the 2030 Target | ft. Vibhuti Garg
Feb 26, 2024
Vibhuti Garg, energy expert, discusses India's goal of 500GW renewable energy by 2030, highlighting finance, policies, and challenges. Topics include policy stability, critical minerals, carbon pricing, EV investments, and geopolitical challenges in energy transition.
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Finance Is The Key Bottleneck
- India shifted from fossil-led growth to ambitious renewable targets after 2015 and faces financing as the main bottleneck.
- Policy reforms alone won't suffice; unlocking finance is central to scaling renewables.
Carbon Markets And Global Rules Matter
- India needs both carbon pricing and market instruments like a carbon market to incentivize emission reductions.
- Global measures like CBAM will also affect Indian industry and require support mechanisms.
Make Storage And Markets The Priority
- Prioritize large-scale energy storage deployment to make solar and wind reliably dispatchable across the day.
- Accelerate market reforms, time-of-day pricing, grid expansion, and supply-chain security to enable higher RE penetration.