New Delhi [संजीव गुप्ता]। India is facing a different set of challenges in terms of meeting the targets and commitments expressed at the recently concluded COP26 in Glasgow. Surat looks different for India due to market forces that are in the way of phasing out coal, tough financial conditions and many other factors. Climate Trends took to COP26 findings to understand and explore them Organized a webinar.

During this, its effects after COP and how India can adopt a low carbon future, its measures were discussed. Ulka Kelkar, Director of Climate Program at WRI India, said India’s development challenges and climate strategies cannot be confined to coal alone. Although coal is certainly a major focus of discussion. Renewable energy is now more competitive and economical than coal-fired power, but market forces are not moving towards 500 GW of installed renewable energy capacity, he said.

By 2030, 57 percent of our total energy generation capacity will be from non-fossil fuel sources, but if we look at the expenditure on coal imports by India, it is currently slightly below one lakh crore per annum, which is three lakh crore by 2030. can reach. Sunil Dahiya, an analyst at the Center for Research on Energy and Clean Air, said that if one considers how easy or difficult it is for India to phase out coal-based energy capacity, it has to be seen that especially by the year 2030, 500 Going by the target of installing gigawatts of renewable energy capacity, in 2030, we will be generating the same amount of electricity from coal as we are making today.

This means that we cannot meet 100% of the electricity demand from renewable energy sources. In the coming four-five years, the consumption of coal will also increase. Similarly, some of the coal-fired power stations which are under construction, when they become operational, the installed capacity of electricity will also increase. Referring to the reality of climate finance, Vibhuti Garg, an economist at the Institute for Energy Economics and Financial Analysis, said that developed countries are talking about $100 billion in this matter, while the need is about six times that.

He said that in terms of financial implications, if we look at the Sustainable Development Scenario in India’s case, India is currently attracting investments of about $ 40 billion, which includes renewable energy as well as transmission and distribution. In Asia Amber Aditya Lola, Senior Electricity Policy Analyst, said that human activities have led to an average increase of 1.1 degrees Celsius in global temperature so far. There was talk of increasing coal-based energy only a few years ago, but it is encouraging that India is trying to phase out its coal power stations.

COP26 also discussed how we should gradually stop the use of coal. Akhilesh Magal, head of the renewable energy advisory group of Gujarat Energy Research and Management Institute, said that from an economic perspective, investing in coal-based power plants is not a wise move.

Edited By: Kamal Verma