Transition to Renewable Energy
#GS 03 Infrastructure, Renewable Energy
G-20 Energy Transition Working Group (ETWG)
- The first G20 Energy Transitions Working Group (ETWG) Meeting under India’s Presidency began in Bengaluru on 05-02-23.
- It will have over 150 participants including G20 member countries, nine special invitee guest countries viz, Bangladesh, Egypt, Mauritius, Netherlands, Nigeria, Oman, Singapore, UAE and Spain.
The priority areas of ETWG meeting include;
- Energy Transition through Addressing Technology Gaps;
- Low-cost Financing for Energy Transition;
- Energy Security and Diversified Supply Chains;
- Energy Efficiency, Industrial Low Carbon Transitions and Responsible Consumption;
- Fuels for Future (3F) and
- Universal Access to Clean Energy and Just, Affordable, and Inclusive Energy Transition Pathways.
Problems with Energy transition
- A major concern is the supply chain issues of lithium which are required for energy storage batteries.
- This is highly critical since the key challenges around battery storage were high cost and limitation of lithium supply.
- Thus it needs to be sorted out first since a complete transition to renewable energy from fossil fuel sources cannot happen until the cost of energy storage was reduced.
India and Renewable Energy
- India is one of the top five nations in the Global Climate Change Performance Index and has a per capita emission which is one-third of the global average.
- We have also reached the 2030 target of ensuring 40% installed capacity in non-fossil sources by 2021 itself and the current capacity of non-fossil sources is 42%.
- India has declared that it will achieve net-zero emissions by 2070, reach 500 GW of power capacity from non-fossil fuel by 2030, and get 50% of its energy requirements from renewable energy by 2030.
Source “World talks about energy transition, but nations yet to invest”
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