India can achieve energy independence by 2047 and save USD2.5 trillion in consumer savings through 2047, reduce fossil fuel import expenditure by 90%, and enhance India’s industrial competitiveness globally, according to a study by the US Department of Energy’s Lawrence Berkeley National Laboratory. The study indicates that India’s energy independence pathway involves the installation of more than 500 GW of non-fossil electricity generation capacity by 2030, followed by an 80% clean grid by 2040 and 90% by 2047. The Indian industry must transition to clean technologies such as EV and green steel manufacturing. India has a unique advantage to leapfrog to a clean energy future since the bulk of its energy infrastructure is yet to be built, as per the study.
India’s Pathway to Energy Independence by 2047: A US Department of Energy’s Lawrence Berkeley National Laboratory Study
A recent study by the US Department of Energy’s Lawrence Berkeley National Laboratory titled ”Pathways to Atmanirbhar Bharat” suggests that India can achieve energy independence by 2047, which coincides with the 100th anniversary of India’s independence. The study also highlights that India’s energy infrastructure requires an investment of USD3 trillion in the coming decades.
According to the study, achieving energy independence can bring substantial economic, environmental, and energy benefits to India, including consumer savings of USD2.5 trillion through 2047, reducing fossil fuel import expenditure by 90%, or USD240 billion per year. It can also enhance India’s industrial competitiveness globally and enable its net-zero commitment ahead of schedule.
The study indicates that India’s energy independence pathway would involve installing more than 500 GW of non-fossil electricity generation capacity by 2030, followed by an 80% clean grid by 2040 and 90% by 2047. It also suggests that nearly 100% of new vehicle sales could be electric by 2035, and heavy industrial production could shift primarily to green hydrogen and electrification.
The study further reveals that India can domestically produce most of the lithium needed for manufacturing new electric vehicles and grid-scale battery storage systems, estimated to be around 2 million tons by 2040. Additionally, the Indian industry must transition to clean technologies such as EV and green steel manufacturing, as India is one of the world’s largest auto and steel exporters, with their largest markets in EU countries committed to carbon neutrality and a potential carbon border adjustment tariff.
Berkeley Lab staff scientist and co-author Amol Phadke noted that India can leverage the existing policy framework it has laid out to expand the clean energy deployment, and India, as the third-largest energy consumer in the world, currently imports 90% of the oil it needs, 80% of the industrial coal, and 40% of the natural gas.
The study stresses that prioritizing cost-effective and clean new energy assets is crucial for India’s long-term financial sustainability. The price and supply volatility in the global energy markets, as witnessed in recent years, strain India’s foreign exchange reserves, resulting in economy-wide inflation.
In conclusion, India’s energy independence pathway will require a massive investment in the coming decades. However, achieving energy independence can bring significant economic, environmental, and energy benefits to India, making it an essential goal for India to strive towards.
India’s Advantage to Leapfrog to a Clean Energy Future: US Department of Energy’s Lawrence Berkeley National Laboratory Study
India has a unique advantage to leapfrog to a clean energy future, given the bulk of its energy infrastructure is yet to be built, according to a study by the US Department of Energy’s Lawrence Berkeley National Laboratory. The study finds that India can achieve cost-effective energy independence in a way that is economically and environmentally advantageous. India has achieved the world’s lowest renewable energy prices and has some of the world’s largest lithium reserves. The study indicates that India will embark on an ambitious energy transition in the coming decades, and the transition runway provides time to strategically deploy clean technologies at scale and plan for a just transition.
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