Renewable Energy can propel the nation to net zero

Earth's temperature has risen by approximately 1.1°C since the late 1800s.

Progress towards net zero could potentially avoid 2.7°C of global temperature increase.

Net Zero refers to eliminating or balancing Greenhouse Gas emissions and other environmentally damaging human activities through carbon storage and sequestration.

Let us investigate the details of the net zero emissions target

To mitigate severe climate impacts and preserve our planet, we must limit global warming to 1.5°C above pre-industrial levels. Currently, Earth's temperature has risen by approximately 1.1°C since the late 1800s. Under the Paris Agreement, the goal is a 45% reduction in emissions by 2030 and achieving net zero by 2050. The Paris Agreement is a legally binding international treaty on climate change. It was adopted by 196 Parties at the UN Climate Change Conference (COP21) in Paris, France, on December 12, 2015.

Despite commitments from over 140 countries and thousands of institutions within the Race to Zero initiative, existing climate plans are insufficient, projecting a near 9% rise in emissions by 2030 from 2010 levels (UN).

Nationally Determined Contributions (NDCs):

Achieving net zero necessitates profound transformations in our energy, industrial, and transportation sectors, urging top emitters to intensify their Nationally Determined Contributions (NDCs) and enact immediate emission reductions. The Nationally Determined Contributions (NDCs) are commitments made by countries to reduce their greenhouse gas emissions to mitigate climate change. These commitments outline the necessary policies and measures to achieve the global targets established in the Paris Agreement. NDCs play a crucial role in international climate efforts, as they specify each country's plans and actions to contribute to the collective goal of limiting global warming to well below 2°C, with efforts to limit it to 1.5°C. By implementing these contributions, countries aim to foster sustainable development while addressing the urgent need for climate action.

Progress towards net zero could potentially avoid 2.7°C of global temperature increase and avoid 24 gigatons of additional carbon dioxide emissions by 2050 (International Energy Agency)

The graph illustrates the urgency of addressing climate change to prevent exceeding critical temperature thresholds.  

A growing coalition of countries, cities, businesses, and other institutions is pledging to achieve net-zero emissions. Over 140 countries, including major polluters like China, the United States, India, and the European Union, have set a net-zero target, encompassing about 88% of global emissions. More than 9,000 companies, over 1,000 cities, over 1,000 educational institutions, and over 600 financial institutions have joined the Race to Zero, committing to take rigorous, immediate action to halve global emissions by 2030 (UN)

(Numerical data source: UN)

At the 26th session of the United Nations Framework Convention on Climate Change (COP 26) in November 2021, India announced its ambitious target to achieve net zero emissions by 2070, joining numerous other countries in committing to similar goals for a sustainable future.

Renewable Energy Projects in India, 2024

India is making significant strides towards achieving net-zero carbon emissions by 2070, with a focus on scaling up renewable energy projects.

Here's an overview of some recent initiatives and plans:

To initiate projects in renewable energy, the government has set an ambitious goal of achieving 500 GW of installed renewable energy capacity by 2030 (times of India).

(Numerical data source: MNRE, PIB)

India has recently made substantial progress in the development of renewable energy. The country's cumulative renewable capacity reached 191.65 GW by March 2024, with solar energy leading at 43% of the mix. The National Green Hydrogen Mission, with a ₹19,744 crore investment, aims to produce 5 MMT of green hydrogen annually by 2030. Wind energy capacity is set to reach 140 GW, and new projects like floating solar plants on dams are underway.

(Numerical Data source:  Ministry of Power)

The government’s initiatives also include promoting electric vehicles, enhancing grid modernization, and encouraging private sector investment, positioning India as a leader in the global renewable energy landscape. The recent developments related to renewable energy are listed below:

(Numerical data source: MNRE, PIB)

India's approach targets the expansion of renewable energy capacity while addressing the integration and efficiency of renewable sources within the national grid. The strategic emphasis on reducing dependency on fossil fuels and fostering technological innovation positions India as a leader in the global renewable energy landscape, driving towards the goal of net-zero emissions by 2070. Furthermore, the initiatives outlined provide a replicable model for other nations aiming to achieve similar environmental and economic benefits through renewable energy adoption.