Daily Current Affairs – 2020Topic: For Prelims and Mains
Green energy initiatives are one of the most focused sectors in Budget 2021. India is already the 4th largest country in terms of total Renewable Energy installed capacity in the world.
With the help of budgetary allocation and private participation, India has all the chances to be a global leader in green energy. But it is not an easy task as India is also facing many challenges in the implementation of its green energy initiatives.
What is Green Energy?
Present installed capacity of India:
First, the economic survey mentions solar energy of cumulative capacity of 36.9 GW has commissioned till November 2020. Around 36 GW solar energy capacity is under installation, and an additional 19 GW capacity has been tendered.
Second, the Ministry of New and Renewable Energy (MNRE) mentions 38.6GW of Wind energy power plants has commissioned till December 2020.
The MNRE also mentions around 10 GW of Biomass-based power plants has commissioned.
On an average, the renewable energy installed capacity till December 2020 stands above 91GW.
Need to focus on Green Energy:
First, green energy will reduce India’s oil import bill. India currently imports 84% of its oil needs.
If India enhances its green energy capacity then the oil import bill of India will come down drastically.
Second, green energy being clean and eco-friendly will reduce the level of Pollution in India. Air pollution is the third-highest cause of death if we consider all health risks. Apart from that, India recorded the world’s highest annual average concentration of PM 2.5 exposure in its air in 2019
Third, India’s international commitments. India being a party to Paris Climate Agreement 2015, submitted its Nationally Determined Contributions (NDC). In this India promised to increase the share of non-fossil fuels-based electricity to 40 per cent by 2030. So the focus on green energy is much needed.
Fourth, the failure of global commitments. The year 2020 was supposed to be the year by which developed countries of Paris Agreement were about to fulfil the goal of jointly mobilizing US$ 100 billion a year for climate finance. But it has not materialized. So India has to invest on its own and not rely on the global community as India is one of the most vulnerable countries to Climate Change.