Committing to a ‘net-zero’ ambition at Glasgow COP26, India targets to achieve it by 2070. This will involve reducing the total carbon emissions by 1 billion tonnes by 2030 and continued focus on non-fossil fuel energy generation. India will achieve the goal by transitioning to non-fossil power sources, new mobility solutions, and industrial green hydrogen.
Building a non-fossil fuel energy generation capacity of 500 gigawatts (GW) by 2030 will bring down the carbon intensity of the economy by 45%, and prove critical to establish a green hydrogen economy.
An estimated green industrial hydrogen production of 7 million metric tonnes per annum (MMTPA) by 2040 and 114 MMTPA by 2070 will put India on track to reach the ‘net-zero’ target. To accelerate its energy transition efforts, India has set an ambitious target of green hydrogen production of 5 MMTPA by 2030. Achieving this target can displace around 11 MMTPA of natural gas or 25 MMTPA of coal, thereby avoiding carbon emissions of 34 to 57 MMTCO2/year by 2030.
Green hydrogen can help tackle the climate change issue by bringing down energy dependence on fossil fuels while unleashing long-term economic gains for India.
India's approximate demand for hydrogen is expected by 2030 (1)
India is commitment to reduce the carbon intensity of the economy by 2030 (2)
India's minimum requirement electrolyzers along with 100 GW of renewable generation capacity to achieve the production target of 5 MMTPA by 2030 (3)
Steps towards India’s energy-efficient future
Technology deployment, along with policy and economic support from the government, can aid in achieving expected sustainability outcomes. Public and private sector enterprises can realize the full potential of their efforts by:
Defining energy transition roadmap to facilitate achievement of organizational goals and aligning efforts with business growth
Companies must track their expenses in electrolyzers and analyze the performance of renewable projects to optimally utilize resources
Devising an ‘internal carbon price’ strategy and using technology for evaluating investments
Building a profitable renewable energy portfolio with tailored digital solutions for strategizing green hydrogen distribution and establishing digital operations excellence centers to monitor demand
Production, distribution, and storage of green hydrogen can be optimized through a technology-based approach. This report aims to help companies comprehend the huge opportunity associated with green hydrogen and assess the scope for technology implementation.