The power ministry has begun to now address the challenges of building adequate balancing power and the grid strength required to support such supply and demand character. The government will internationally require to look for lowered costs for this – storage being an expensive option.
The power ministry estimated that with the energy mix it plans and the energy efficiency mission operating well it could do much better than the international commitment given of reducing the energy intensity of its GDP by 30-35% by 2030 below 2005 levels. It estimated that at optimum the energy intensity could go down by as much as 50% from the existing 0.049 kilogram of carbon dioxide equivalent per rupee of GDP to 0.024 by 2030. At this rate India’s per capita emissions of greenhouse gas would still remain below the existing global average, the energy and climate experts of the government estimated at 4.14 tonnes of carbon per capita. The non-fossil fuel capacity too, the government estimated could reach a much higher target than that internationally committed and hit past the 50% mark by 2030.
But the challenge, the internal assessment by the government noted, was the availability of international finance and reduced prices of technology – both of which currently seem difficult to come by. The last international meeting on climate finance under the UN negotiations showed that developed countries were ‘green-washing’ the existing finance instead of providing additional funds, say negotiators.
The international negotiations over next four years are also going to be strongly focused on building a transparency and disclosure regime that can help countries such as India keep track of what are the real new funding routes opening for the climate or green energy sector and where it would have to deploy its own resources. At the same time it would have to set its own house in order and set up a regulator to pull in standardised emission data from industry and different sectors of the economy to provide the inventory to the Paris Agreement on a regular basis. The negotiations over next four years will also set the terms for how deep the scrutiny of this data would be at the international level.
The international negotiations starting November 8 in Morocco are, in the least expected to set out deadlines for these rules to be put in place and how the manner in which they will be devised.