scorecardresearch

TERI’s Vibha Dhawan says switch to renewables gives India environment and economic advantage

Speaking the FE Electric Mobility Summit, TERI Director General Dr Vibha Dhawan highlighted the challenges with respect to faster EV adoption in the country and how alternative tech can make a difference.

TERI’s Vibha Dhawan says switch to renewables gives India environment and economic advantage
Most studies indicate that road transport accounts for the highest share of greenhouse gas (GHG) emissions.

India has committed to taking its non-fossil energy capacity to 500 gigawatts by 2030 at last year’s UN Climate Change Conference- COP 26 and aims to meet 50 percent of its energy requirement from renewable energy by 2030. Close on the heels of the forthcoming declaration from COP27, underway in Egypt, Dr Vibha Dhawan, Director General, The Energy and Resources Institute (TERI) says “solar power is India’s top bet amongst renewable energy.”

Speaking at the FE Electric Mobility Summit 2022 Dhawan highlighted that “To achieve our 2030 target, there’s a need to switch to renewable sources of energy rather than relying solely on coal-based electricity.” This is particularly relevant given that India plans to bring the economy’s carbon intensity down to 45 percent by 2030 and also cut down emissions by 1 billion tonne by 2030 from the total projections.

Most studies indicate that road transport accounts for the highest share of greenhouse gas (GHG) emissions. That is where Dhawan believes that lowering dependence on fossil fuel is good news not just for the environment but from the economic aspect too, “With declining petrol and diesel demand, this also helps the foreign exchange as its primarily imported.”

Given that 85 percent of transport fossil fuel is met by crude imports, it goes without saying that there is huge potential in India to increase the EV market share through government subsidies and incentives for adopting EV technology. However, the “EV technology has to be made suitable for our conditions. This is the reason many interested buyers are delaying their purchase decision. As technology is evolving, there is hesitancy and range anxiety,” pointed out Dhawan.

However a faster EV adoption in the country is a function of many factors. Outlining the key challenges she said that, “ lack of EV chargers, standard charging sockets, range anxiety, reliability of the EV and its life cycle,” do pose a roadblock. More over in the Indian context “grid emission” is a key spect to the overall decarbonisation mission “as power grids are mostly thermal powered,” she elaborated.

She added that there is need to look at alternative technology too, “Hydrogen-powered vehicles might soon become an addition to green mobility segment.”

She signed off outlining that the “demand of electric vehicles require massive infrastructure development” and the focus need to be more on localisation, “we have to make them in India instead of importing from China and other countries.”

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.