Introduction: On April 3, 2024, the report titled “Synchronizing Energy Transitions Toward Possible Net Zero for India: Affordable and Clean Energy for All,” prepared by the Indian Institute of Management-Ahmedabad (IIM-A) under the sanction of the Office of the Principal Scientific Adviser to the Government of India, was launched in New Delhi by Prof. Ajay Kumar Sood, Principal Scientific Adviser to the GoI. The report was partially funded by the Nuclear Power Corporation of India Ltd (NPCIL).
Key Points:
- Objective: To analyze the energy transition necessary for achieving a net-zero energy basket for India.
- Study Period: Initiated in November 2021, focusing on minimizing power costs for consumers and determining an optimal power mix for net-zero emissions.
- Project Leadership: Led by Prof. Amit Garg, with collaboration from an expert group chaired by Dr. R. B. Grover, comprising experts from various power generation sectors.
- Critical Questions Addressed: India’s energy trajectory, energy mix projections, cost of electricity, carbon emissions, required investments, and challenges and opportunities in achieving net-zero emissions by 2070.
Conclusions:
- Nuclear and Renewable Energy: Essential for net-zero by 2070, necessitating early decarbonization of the electricity sector.
- Emissions Projections for 2070: Estimated between 0.56 billion tonnes (btCO2) and 1.0 btCO2, with the remaining gap offset through sequestration as per Nationally Determined Contributions (NDCs).
- Policy Recommendations: Active policies on critical minerals and carbon dioxide removal technologies are crucial for coal phase-down.
- Electricity Consumption: Achieving clean, affordable electricity through nuclear and renewable power, with an increased share of electricity in Total Final Electricity Consumption (TFEC) up to 47-52%, compared to 18% at present.
- Financial Requirements: Estimated at Rs 150-200 lakh crore for 2020-2070, with significant international financial flows necessary.
Significance: This report highlights the strategic approach required for India to transition towards a net-zero energy basket by 2070, emphasizing the role of nuclear and renewable energy, and the need for substantial financial investments and policy support.
About the Report:
- Prepared by: Indian Institute of Management-Ahmedabad (IIM-A)
- Funded by: Partially by Nuclear Power Corporation of India Ltd (NPCIL)
- Sanctioned by: Office of the Principal Scientific Adviser to the Government of India (GoI)
- Launched by: Prof. Ajay Kumar Sood, Principal Scientific Adviser to the GoI
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