In an article for the Times of India, Guidehouse discusses India's future climate goals, including ways to get some energy targets back on track
At the recent COP24 climate meeting, India was lauded for its ambitious renewable energy targets and being on track for achieving its climate goals, however, recent data reveals some of these claims may be unsubstantiated.
In an article for the Times of India, Guidehouse’s Yvonne Deng, managing consultant, and Yannick Monschauer, senior consultant, discuss how India aims to reach their climate targets, including how these plans can be improved to increase the likelihood of success.
According to the Times of India, analysis of the government data and policies reveal the country’s progress for installing renewable energy is not keeping pace with their energy target. At the same time the country’s power minister has recently announced plans to increase the goal, by end of November the country had installed renewable energy to only complete 32% of the new increased goal.
However, the data also revealed an increased capacity between 2014 and present day giving hope to the achieving these goals, “Given that renewable capacity more than doubled, achieving 175GW in the next four years seems to be within reach,” said Monschauer.
Additionally, a report released at COP warned that building new coal-fired plants may pose a threat to India’s progress on clean energy, with the CAT analysis showing that coal consumption increased by 4.8% or 27 million tons last year. “The latest electricity plan still forecasts new coal capacity additions of 46GW. Abandoning those plans can bring India close to being compatible with the 1.5⁰C ambition of the Paris Agreement on climate change and provide health benefits to people,” said Monschauer.
The country continues to face several climate challenges, however, Deng said, “Although ambitious when compared to other major economies, India’s [National Development Council] is ripe for ratcheting. The country is on track in achieving its 40% capacity target more than a decade [early] and is currently on track to halving emissions intensity by 2030. It is now time to increase the targets.”