The world’s 5th largest economy, India, can achieve energy independence through clean technology by 2047. India has set a significant target for itself – to attain complete energy independence by 2047, as the world faces the difficulties of climate change and the exhaustion of non-renewable energy sources. This ambitious goal aims to take the nation towards a sustainable and self-sufficient energy future.
India has consistently progressed towards this transformative objective with a well-planned roadmap. India can realise its goal of energy independence by 2047, according to recent research by the Lawrence Berkeley National Laboratory of the US Department of Energy. It will save consumers $2.5 trillion and cut the cost of importing fossil fuels by 90%, or $240 billion annually.
India’s Roadmap to Energy Independence
According to the analysis, India must build more than 500 GW of non-fossil electricity generation capacity by 2030, followed by an 80% clean grid by 2040 and a 90% clean grid by 2047, to attain energy independence. By 2035, electric vehicles may account for almost all new car sales. 90% of iron and steel, 90% of cement, and 100% of fertiliser production might switch to green hydrogen and electricity by 2047.
Fueling the Future
To achieve energy independence by 2047, significant investment and strong policy support are necessary. The Indian government has actively encouraged investments in the renewable energy industry by offering incentives, tax exemptions, and simplified regulations. A stable and coherent policy structure is crucial to create a favourable atmosphere for developing clean energy and technological advancement.
India has set a strong foundation for its energy transformation. The combined efforts of the government, private industry, and citizens will play a crucial role in shaping the country’s energy landscape and steering it towards a more self-sufficient and environmentally friendly future. Although there may be obstacles to overcome, India’s commitment to a sustainable energy transition makes its journey towards energy independence an encouraging and optimistic one.
It concluded that achieving energy independence would significantly impact India’s economy, environment, and energy use. For instance, consumers would save USD 2.5 trillion through 2047, and the nation’s annual spending on fossil fuel imports would drop by 90%, or USD 240 billion. This increases India’s industrial competitiveness on a worldwide level and gives it the ability to meet its net-zero promise earlier than expected.