Modi’s initiative can make India self-sufficient in energy sector by 2047: Report

India, the world’s fifth largest economy, can achieve self-sufficiency in the energy sector by 2047 through clean energy due to Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat’ initiative. A top research institute of America has claimed this in its report. The report says a massive expansion in renewable energy capacity would save billions of dollars in imports. Government-funded research and development center Lawrence Berkeley National Laboratory, in collaboration with ‘The India Energy and Climate Center (IECC)’, has published a report titled ‘The Way to Self-reliant India’, highlighting the steps taken by India towards adopting clean energy. The steps taken are highlighted.

India meets 80 to 85 percent of its crude oil and coal needs through imports. Fluctuating prices and supplies in global energy markets have put pressure on India’s foreign exchange reserves. According to the report, however, the recent dramatic reduction in clean energy prices presents an opportunity for India to reduce energy imports through investments in renewable energy, battery storage and green hydrogen.

Prime Minister Modi has already set a target of setting up 500 GW of renewable energy capacity by 2030. The government wants a 30 per cent share of electric vehicles in private cars by 2030. The target is 70 per cent for commercial vehicles and 80 per cent for two-wheelers. Due to this, the government is trying to increase the sales of electric vehicles in the country. Along with this, India is aiming to produce 5 million tonnes of green hydrogen using electricity from renewable sources.

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