Sustainable growth is possible only through sustainable energy sources, says Modi

Prime Minister addressing a webinar on "Energy for Sustainable Growth", in New Delhi on March 4, 2022.

Sustainable growth is possible only through sustainable energy sources, says Modi

New Delhi, March 4, 2022

Prime Minister Narendra Modi today said sustainable growth was possible only through sustainable energy sources.

Addressing a webinar on "Energy for Sustainable Growth", Modi said this theme not only resonates with the Indian tradition but was also a pathway to fulfilling future needs and aspirations.

He reiterated his commitment made in Glasgow to reach Net Zero by 2070. He also mentioned his vision of an environmentally sustainable lifestyle. India was providing leadership in global collaborations like International Solar Alliance, he said.

He also talked of the target of achieving 500-gigawatt non-fossil energy capacity and achieving 50% of installed energy capacity through non-fossil energy by 2030. “Whatever targets India has set for itself, I do not see them as challenges but as opportunities. India is moving with this vision in the last few years and it has been taken forward at policy level in this year’s budget,” he said.

Modi said this year's Budget had announced Rs 19,500 crore for high-efficiency solar module manufacturing which will help in making India a global hub for manufacturing and R&D of solar modules and related products.

Referring to the recently announced National Hydrogen Mission, he said India can become a hub of green hydrogen given its inherent advantage in the form of abundant renewable energy power. He asked for private sector efforts in the area.

Modi also pointed towards the challenge of energy storage which has received significant attention in the budget. “Provision has been made in this year's budget regarding battery swapping policy and interoperability standards. These will reduce the problems faced in the use of electric vehicles in India,” he said.

Along with energy production, energy-saving was equally important for sustainability. “You should work on how to make more energy-efficient air-conditioners, heaters, geysers and ovens,” he added.

Stressing the need to prioritize energy-efficient products, the Prime Minister gave the example of the promotion of LED bulbs on a large scale. At first, the government brought down the cost of LED bulbs by promoting production and then 37 crores LED bulbs were distributed under the Ujala scheme. This has led to a saving of 48,000 million kilo watt hour electricity, saving of about Rs 20,000 crore in the electricity bills of the poor and middle-class families.

The annual carbon emission saw a decline of 4 crore tonnes. Local bodies were saving Rs 6,000 crore every year due to the adoption of LED bulbs in street lights, he added.

Coal gasification was a clean alternative to coal. in this year's budget, for coal gasification, four pilot projects have been announced which will help in firming up the technical and financial viability of these projects. Similarly, the government is also continuously promoting ethanol blending.

Unblended fuel will attract extra differential excise duty. Referring to the recent inauguration of the Gobardhan Plant in Indore, he said the private sector could establish 500 or 1000 such plants in the country over the next two years.

About the future upsurge in the energy demand in India, he underlined the criticality of the transition towards renewable energy. He listed a series of steps in this direction such as clean-cooking in 24-25 crore households; solar panels over canals, solar trees in gardens or balconies to possibly get 15% energy for the household.

He also suggested exploring micro hydel projects to enhance electricity production. “The world is witnessing depletion of all types of natural resources. In such a scenario circular economy is the demand of the hour and we have to make it a mandatory part of our lives,” he added.

NNN

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