Energy for Sustainable Growth

'Energy for Sustainable Growth', it is also inspired by our ancient traditions and is also the way to fulfill the needs and aspirations of the future. India has a clear vision that Sustainable Growth is possible only through Sustainable Energy Sources. In Glasgow we have pledged to reach net-zero levels by 2070.

In Cop-26, to promote Sustainable Lifestyle, the LIFE mission was also talked about, that is, the vision of Lifestyle For Environment was put forward. We are also leading global collaborations like the International Solar Alliance. Our target for ourselves in Non-Fossil Energy Capacity is 500 GW. By 2030, we have to get 50 percent of our installed energy capacity from non-fossil energy. Whatever targets India has set for itself, I do not see them as challenges but as opportunities. India has been running on this vision for the past years and in this budget it has been taken further at the policy level.

In this budget, 19.5 thousand crore rupees have been announced for High-Efficiency Solar Module Manufacturing in the direction of solar energy. This will help in making India a global hub in Manufacturing and R&D of Solar Modules and related products. We have also announced the National Hydrogen Mission. India has an Inherent Advantage in the form of abundantly available Renewable Energy Power. With this, India can become the hub of Green Hydrogen in the world. Hydrogen Eco-System is Inter-Connected with Fertilizer, Refineries and Transportation Sector. This is an area in which innovations should be promoted by the private sector, so that India's full potential can be utilised.

Along with renewable energy, there is also a big challenge regarding energy storage. For this too, in order to find solutions, great priority has been given in the budget to maintain the growth in storage capacity. Provision has also been made regarding Battery Swapping Policy and Inter Operability Standards in this year's budget. With these, the problems faced in the use of electric vehicles in India will be reduced. Plug-in charging takes longer and costs more. Since 40-50% of the cost of an electric vehicle is the cost of the battery, swapping will reduce the upfront cost of the electric vehicle. Similarly, whether it is mobile battery or solar power storage, there are many possibilities in this field as well. I think we can all work together on these too. Along with energy production, energy saving is equally important for sustainability. I feel the need to do a lot about how to become more Energy Efficient A/C, and how to become more Energy Efficient Heater, Geyser, Oven in our country. Wherever the consumption of electricity is high, manufacturing of Energy Efficient Products should be the priority of all of us.

Let me give you an example. When our government came in 2014, the cost of LED bulb used to be Rs.300-400 in the country. Our government increased the production of LED bulbs and after the increase in production, it was natural that its price came down to Rs 70-80. Under the Ujala scheme, we have distributed around 37 crore LED bulbs in the country. About Forty Eight Thousand Million Kilo Watt Hour electricity is saved from this. Annual electricity bill of about 20 thousand crore rupees is also saved for our poor and middle class. And about 40 million tonnes of carbon emissions have been reduced every year. We have also replaced the traditional street lights with 1.25 crore smart LED bulbs, and our local bodies, municipalities, metropolitan municipalities, where panchayats have this type of street lights, the amount of work that has been done so far is 6 thousand rupees in a year. The municipalities have got savings in the electricity bill of crores of rupees. Electricity has also been saved from this, and about 50 lakh tonnes of carbon emissions have also been reduced. You can imagine how much this one scheme has saved the environment. We can think of Coal Gasification as an alternative to coal and there is a need for innovations in this.

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