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Synopsis: India can achieve renewable energy targets efficiently by strengthening its partnership with US. The problems and challenges associated are discussed.
India’s front-line position as third highest emitter of greenhouse gases has sharpened focus on its future policy course to mitigate carbon emissions under the Paris Agreement.
There is escalating pressure for India to commit itself to a date when it can achieve net zero on the lines of the goal set by the U.S. and the European Union for mid-century, and 2060 by China.
US offer of assistance to help India meet its renewable energy-related targets is a significant step towards defining the contours of this partnership.
How Indo-US partnership can help India achieve its renewable energy goals?
The Partnership to Advance Clean Energy inked by the Barack Obama Administration and India in 2009 mobilised more than Rs 18,000 crore for clean energy initiatives in India.
In 2018, the two countries had launched an energy partnership that emphasised renewables and sustainable growth.
The Climate Action and Finance Mobilisation Dialogue (CAFMD) was recently launched by the US Special Envoy and Union environment minister. CAFMD departs from the earlier initiatives in its link with timebound climate-related goals. The US will give financial and technological assistance to India to achieve its target of deploying 450 GW of renewable energy by 2030.
The US Special Envoy has, in the past, indicated his country’s inclination to mobilise a consortium of international investors to fund India’s ambitious renewable energy transition.
What are the challenges associated with achieving renewable energy targets?
Adaptation framework: The immediate challenge lies in coming up with an adaptation framework to help the millions living in the path of annual cyclones, including residents of populous coastal cities.
Raising the ability of city administrations to handle tens of millions of litres of water regularly dumped in just a few days requires planning, funding and political commitment.
Making low-cost insurance available for houses against climate related losses will raise resilience, and lead to audits, encouraging governments to reduce risks.
These are growing problems, but they also represent an opportunity to steer post-COVID-19 policies towards benign, green development. For a low-emissions future, policies must put nature at the centre.
What India needs to do to achieve renewable energy targets?
Declaring a net zero plan under the Paris pact would impose expensive choices, particularly in energy production.
Specific areas of cooperation to bring down emissions — in the expansion of transport, buildings and industry — and facilitating funding for 450 GW of renewable energy by 2030 can advance the India-U.S. Climate and Clean Energy Agenda 2030 Partnership.
India needs to get all States to mitigate emissions and help them adapt to climate-linked extreme weather and atmospheric pollution caused by fossil fuels. For that, the US will give financial and technological assistance to India to achieve its target of deploying 450 GW of renewable energy by 2030.
Source: This post is based on the article ” Partnership with US could help India meet renewable energy targets ” published in The Indian Express on 15th September 2021 and “Positive Climate” published in The Hindu on 15th September 2021.