Thread by @Insights_ias

India leads the charge in global energy transition, harnessing new sources of power with a determined spirit of 'VIKSIT BHARAT'.

Here are a few important snippets from the PM’s speech at the India Energy Week. Save them to your 📝

A 🧵:
#UPSC

• @IMFNews growth projections for 2023 for #India

-Going to be the fastest growing major economy

-A global bright spot in 2022 despite the pandemic & war

• @IEA The International Energy Agency:

-India’s energy demand will be the highest in the world in this decade⬇️

INDIA’s DEMAND REQUIREMENTS

•Today India's share in global oil demand is around 5% but it is expected to reach 11%.

•India's gas demand is expected to increase by 500%.

India’s ECONOMIC RESILIENCE is based on the following factors:

•A stable decisive government
•Sustained reforms
•Socio-economic empowerment at the grassroots

4 MAJOR VERTICALS of India's energy sector strategy

1.Increasing domestic exploration & production

2.Diversification of supplies

3.Expansion of alternative energy sources:biofuels,ethanol, compressed biogas& solar

4.De-carbonization through use of electric vehicles & hydrogen

DOMESTIC E&P:

•India has the 4th largest refining capacity in the world

•Current capacity:250 MMTPA, which is being increased to 450 MMTPA

•E&P sector has shown interest in areas which were considered inaccessible

•Govt has reduced ‘No-Go’ areas-10lakh sqkm area exempted

NATURAL GAS CONSUMPTION:

•TARGET:Increase natural gas consumption from 6% to 15%.

•Vision:One Nation,One Grid

•The length of the gas pipeline
-In 2014:14,000 km
-2022:over 22,000 km
-In the next 4-5 years:35,000 km

•CNG stations
-in 2014:900
-Set to reach 5,000 soon

BIO-ENERGY

•India established Asia's first 2-G Ethanol Bio-Refinery in August 2022.

•TARGET:12 such commercial 2-G ethanol plants.

•Build 500 new 'waste to wealth' plants under the Gobar-Dhan Yojana in #budget

GREEN HYDROGEN

•The National Green Hydrogen Mission will give a new direction to 21st century India.

•AIM:produce 5 MMTPA of green hydrogen by the end of this decade.

•India will increase the share of green hydrogen to 25% in the next 5 years by replacing GREY-hydrogen

ETHANOL BLENDING & BIO-FUELS

•AIM:To have 50% non-fossil fuel capacity by the end of this decade.

•Ethanol blending in petrol increased from 1.5% to 10% in the last 9 years.

•E-20: 20% ethanol blending launched. It will be expanded across the country in the next 2 years.

EVs:

•ISSUE:battery cost of EVs. Cost of batteries in an electric vehicle ranges from 40-50%.

•SOLUTION: PLI scheme worth more than 18,000 crore rupees to make advanced chemistry cells of 50 GigaWatt hours

SURGE IN RE CAPACITY OF INDIA:

•The renewable energy capacity in India has increased from 70 GW to about 170 GW in the last 9 years.

•The solar power capacity has also increased more than 20 times.

•India ranks 4th in the world in terms of wind power capacity.

MASS MOVEMENT in India regarding energy transition is happening in 2 ways:

1.Rapid adoption of renewable sources of energy

2.Adoption of effective methods of energy conservation
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1.Rapid adoption of renewable sources of energy

-Houses,villages,airports are running on solar power & farming with solar pumps

-Over 19 crore families have been connected with clean cooking fuel in the last 9 years

-Solar cook-top: promotes green & clean cooking in India

2.Adoption of effective methods of energy conservation:

•LED bulbs used in homes & streetlights

•Smart meters are being installed in homes

•CNG & LNG are being adopted on a large scale

•Electric vehicles are increasing in popularity

VALUES of India are reflected in our push towards GREEN GROWTH & ENERGY TRANSITION:

•Circular economy
•Reduce,Reuse,Recycle
•LiFE : Lifestyle for Environment •Net-Zero target by 2070