International
pti-PTI
India
can
achieve
energy
independence
by
2047,
when
it
celebrates
100
years
of
independence,
according
to
a
study
by
the
US
Department
of
Energy’s
Lawrence
Berkeley
National
Laboratory.
The
study
titled
“Pathways
to
Atmanirbhar
Bharat”
also
notes
India’s
energy
infrastructure
needs
an
investment
of
USD3
trillion
in
the
coming
decades.
It
determined
that
achieving
energy
independence
will
generate
significant
economic,
environmental,
and
energy
benefits
for
India
which
include
USD2.5
trillion
in
consumer
savings
through
2047,
reducing
fossil
fuel
import
expenditure
by
90
per
cent
or
USD240
billion
per
year,
enhancing
India’s
industrial
competitiveness
globally,
and
enabling
its
net-zero
commitment
ahead
of
schedule.
“India’s
energy
infrastructure
requires
a
USD3
trillion
investment
in
the
coming
decades,
and
our
study
finds
that
prioritizing
new
energy
assets
that
are
cost-effective
and
clean
is
crucial
for
long-term
financial
sustainability,”
said
Berkeley
Lab
staff
scientist
and
co-author
Amol
Phadke
in
a
statement
issued
by
the
Department
of
Energy.
Amrit
Kaal
Budget
will
establish
India
as
lead
player
in
global
green
energy
market:
PM
Modi
The
study
shows
that
India’s
energy
independence
pathway
would
involve
the
power
sector
installing
more
than
500
GW
of
non-fossil
electricity
generation
capacity
by
2030,
a
goal
already
announced
by
the
government,
followed
by
an
80
percent
clean
grid
by
2040
and
90
percent
by
2047.
It
says
that
nearly
100
percent
of
new
vehicle
sales
could
be
electric
by
2035.
Heavy
industrial
production
could
shift
primarily
to
green
hydrogen
and
electrification,
it
said.
Most
of
the
lithium
needed
(estimated
2
million
tons
by
2040)
for
manufacturing
new
electric
vehicles
and
grid-scale
battery
storage
systems
could
be
produced
domestically
using
newly
discovered
reserves,
it
said.
In
addition,
the
Indian
industry
must
transition
to
clean
technologies
such
as
EV
and
green
steel
manufacturing.
India
is
one
of
the
world’s
largest
auto
and
steel
exporters,
with
their
largest
markets
in
EU
countries
committed
to
carbon
neutrality
and
a
potential
carbon
border
adjustment
tariff,
it
said.
Phadke
said,
“India
can
leverage
the
existing
policy
framework
it
has
laid
out
to
expand
the
clean
energy
deployment.”
India,
the
third
largest
energy
consumer
in
the
world,
currently
imports
90
percent
of
the
oil
it
needs,
80
percent
of
the
industrial
coal,
and
40
percent
of
the
natural
gas.
Price
and
supply
volatility
in
the
global
energy
markets,
as
witnessed
in
recent
years,
strain
India’s
foreign
exchange
reserves,
resulting
in
economy-wide
inflation,
it
said.
“The
case
for
clean
energy
has
never
been
stronger.
India
has
achieved
the
world’s
lowest
renewable
energy
prices
and
has
found
some
of
the
world’s
largest
lithium
reserves,”
said
Nikit
Abhyankar,
Berkeley
Lab
scientist
and
the
lead
author
of
the
study.
US
supports
Modi’s
goal
of
having
500
GW
from
renewable
energy
sources
by
2030
“This
can
propel
India
towards
cost-effective
energy
independence
in
a
way
that
is
economically
and
environmentally
advantageous,”
he
added.
According
to
the
press
release,
the
study
also
finds
that
India
has
a
unique
advantage
to
leapfrog
to
a
clean
energy
future
since
the
bulk
of
its
energy
infrastructure
is
yet
to
be
built.
“We
find
that
India
will
embark
on
an
ambitious
energy
transition
in
the
coming
decades,”
said
Priyanka
Mohanty,
a
co-author
and
researcher
at
Berkeley
Lab.
“However,
the
transition
runway
provides
time
to
strategically
deploy
clean
technologies
at
scale
and
plan
for
a
just
transition.”