The mainstreaming of renewable energy, the growing popularity of EVs, and the setting up of energy-efficient infrastructure necessitate building grid resilience with innovation and digitisation as drivers
As India completes 75 years of independence, the next big milestones are achieving energy independence by 2047 and net-zero emissions by 2070.
Since industrialisation and manufacturing will continue to remain fundamental pillars of India's growing economy, the demand for energy, even in a decarbonised scenario, is expected to double by 2047, with manufacturing accounting for a significant portion of electricity consumption. Thus, making industrialisation sustainable with a focus on smart manufacturing will be crucial for a net zero future. Even, usage of green hydrogen is set to play a pivotal role owing to its ability to decarbonise hard-to-abate sectors like cement, steel, refineries, etc.
Undoubtedly, green hydrogen is shaping the energy policy with India targeting development of at least 5 MMT green hydrogen per annum until 2030. Industries must strive to reduce emissions and demonstrate environmental stewardship by prioritising energy efficiency, integrating renewable energy sources, implementing advanced digital monitoring systems, and adopting cleaner technologies. By taking these measures, industries can optimise their operations, minimise waste, and drive positive environmental transformations.
Furthermore, as India’s population and its affluence continue to grow, it will witness a rise in residential stock and subsequent energy demand. It is expected that the final energy demand from the residential sector may double during this period. This emphasises the importance of effective building management, utilising smart technology to monitor and control systems like heating, ventilation, air conditioning, and lighting.
Smart building management will be pivotal in optimising energy use, reducing costs, and enhancing occupant comfort by integrating renewable energy sources and energy storage systems into buildings, their carbon footprint can be further reduced, therefore, contributing to the net zero emissions objective.
Lastly, the most drastic change during this period could be observed in India’s evolving energy mix. As per the climate goals, the country is headed towards achieving 50 per cent of installed electric power supply through non-fossil energy sources by 2030. Currently, non-fossil sources already account for 43 per cent of the cumulative installed capacity in the country.
Owing to its consistent efforts towards phasing out fossil fuels, India now ranks fourth globally in terms of installed renewable energy capacity. As India strives to achieve energy independence by 2047, there will be a substantial increase in the proportion of wind and solar power In fact, wind and solar are expected to represent 75 per cent of the total increase, with 50 per cent coming from solar alone.
The mainstreaming of renewable energy, the growing popularity of EVs, and the setting up of energy-efficient infrastructure necessitate building grid resilience. Thus, in order to meet the future generations' evolving demands, the need for embracing innovation and digitisation throughout the grid infrastructure is crucial.
Further, The International Energy Agency predicts renewables to end coal’s dominance in the global power mix by becoming the largest source of electricity generation by 2025. So, greening grids are vital for achieving a net-zero economy, which involves the expansion of renewable energy sources, emission reduction, promotion of electrification, improvement in efficiency, grid flexibility which is necessary in fostering economic growth.
The looming climate crisis and the heightened focus on decarbonisation are set to shift the world’s focus on two technological revolutions – digitisation and electricity. The advances witnessed in digital technologies have transformed the way humans and machines interact with each other and technologies made it possible to use energy only when and where it is needed.
Additionally, electricity only can be decarbonised. Therefore, it is crucial to lay the groundwork for a world that is both fully electric and digitally integrated. Leveraging electrification and digital technology would be key in establishing a sustainable and resilient energy system along with electric mobility, smart building management, and smart manufacturing acting as key catalysts for achieving these goals timely.
(Venkat Garimella, VP – Sustainability, Greater India Zone, Schneider Electric.)