India’s Energy Transition Towards A Green Hydrogen Economy
June 09, 2021
India’s Energy Transition Towards A Green Hydrogen EconomyDownload Report
India is motivated towards stronger energy transition actions beyond its current climate change initiatives, aggressive renewable energy, electric vehicle (EV) Infrastructure build-out; and energy diplomacy initiatives. The imperative to de-carbonise the Indian economy is drawn from the poor air quality in Indian cities, high fossil fuel import bill and concerns about India’s energy security.
Despite national efforts with climate change actions, India’s fossil fuel consumption, of both oil and gas, as well as that of coal, is expected to continue to rise to meet the economy’s voracious appetite for energy in any form. Electric vehicles, battery technology and renewable energy growth seemed to offer the only hope to de-carbonise the economy with unanswered questions of energy storage and critical supplies of battery components, including rare earths and metals, creating only a tentative path for energy transition and a zero-carbon future.
The growth of green hydrogen production technologies (hydrogen produced by splitting water molecules with electrolysis using renewable energy sources), falling costs of electrolysers and fuel-cell stacks, and increasingly concerted policy actions to encourage green hydrogen projects in different parts of the world, are coming together to create a paradigm shift for energy transition.
With blue or grey hydrogen technologies (produced using natural gas, with or without Carbon Capture Sequestration) as an interim step, stakeholders see green hydrogen become economically viable within a decade in some parts of the world, working closely with battery-tech, EVs and a higher renewable energy generation scenarios, offering scalable zero-carbon scenarios.