The World Could Learn Vital Lessons from India’s Green Energy Push
India’s efforts to incorporate green energy into its energy mix hold several vital lessons for the rest of the world. Despite its reliance on fossil fuels, the Asian nation has taken several notable steps to increase its capacity for green energy, provide affordable green energy, and ensure energy equity.
The Global South particularly stands to benefit the most from copying key aspects of India’s green energy strategy as most of the 675 million people who don’t have access to basic electricity live in these nations. Emerging economies typically have the least access to green energy financing, preventing them from developing renewable energy infrastructure and upgrading their grids.
India electrified all of its villages in 2018 and three years later pledged to deploy 500 gigawatts (GW) of green energy capacity by the end of the decade. It has already deployed 200 GW of this capacity while making notable achievements in the battery energy storage systems (BESS) segment, enabling the country to essentially overcome the intermittency associated with renewable energy.
Pairing energy storage facilities with green energy sources like solar and wind will be key to ensuring renewable energy is available 24/7, but the high costs involved in launching such projects have prevented the Global South from keeping pace. India addressed this issue by launching targeted policies to deploy public investment and mobilize international partnerships.
For instance, the Global Energy Alliance for People and Planet (GEAPP) teamed up with IndiGrid and BSES Rajdhani Power Limited (BRPL) to launch the biggest energy storage system in the country. The project is expected to serve 12,000 low-income people in Delhi. Additionally, GEAPP has also supported 600,000 employment opportunities and issued new electricity connections to a million businesses and individuals.
Low-income countries could also implement public-private-philanthropic partnerships to ensure projects that serve the most in-need people receive the funding they need. Investing in battery energy storage systems should also be a key part of their strategies as it will ensure a constant supply of green energy.
Furthermore, modernizing utilities and boosting the management and planning capacity of distribution firms will allow them to serve as many customers as possible, effectively. Finally, implementing renewable energy solutions at the lowest level, such as installing rooftop solar panels, will ensure communities still have energy when there are grid infrastructure issues.
Ultimately, the most significant challenge the Global South and the rest of the world will face will be securing the funding required to support the green transition. As India has proven, strategic partnerships coupled with key investments in energy storage, grid modernization, and local-level solutions are a particularly effective strategy.
Private sector actors, such as Energy and Water Development Corp. (OTCQB: EAWD), can also come up with innovations that authorities can use in the push to drive the energy transition faster.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
India’s efforts to incorporate green energy into its energy mix hold several vital lessons for the rest of the world. Despite its reliance on fossil fuels, the Asian nation has taken several notable steps to increase its capacity for green energy, provide affordable green energy, and ensure energy equity.
The Global South particularly stands to benefit the most from copying key aspects of India’s green energy strategy as most of the 675 million people who don’t have access to basic electricity live in these nations. Emerging economies typically have the least access to green energy financing, preventing them from developing renewable energy infrastructure and upgrading their grids.
India electrified all of its villages in 2018 and three years later pledged to deploy 500 gigawatts (GW) of green energy capacity by the end of the decade. It has already deployed 200 GW of this capacity while making notable achievements in the battery energy storage systems (BESS) segment, enabling the country to essentially overcome the intermittency associated with renewable energy.
Pairing energy storage facilities with green energy sources like solar and wind will be key to ensuring renewable energy is available 24/7, but the high costs involved in launching such projects have prevented the Global South from keeping pace. India addressed this issue by launching targeted policies to deploy public investment and mobilize international partnerships.
For instance, the Global Energy Alliance for People and Planet (GEAPP) teamed up with IndiGrid and BSES Rajdhani Power Limited (BRPL) to launch the biggest energy storage system in the country. The project is expected to serve 12,000 low-income people in Delhi. Additionally, GEAPP has also supported 600,000 employment opportunities and issued new electricity connections to a million businesses and individuals.
Low-income countries could also implement public-private-philanthropic partnerships to ensure projects that serve the most in-need people receive the funding they need. Investing in battery energy storage systems should also be a key part of their strategies as it will ensure a constant supply of green energy.
Furthermore, modernizing utilities and boosting the management and planning capacity of distribution firms will allow them to serve as many customers as possible, effectively. Finally, implementing renewable energy solutions at the lowest level, such as installing rooftop solar panels, will ensure communities still have energy when there are grid infrastructure issues.
Ultimately, the most significant challenge the Global South and the rest of the world will face will be securing the funding required to support the green transition. As India has proven, strategic partnerships coupled with key investments in energy storage, grid modernization, and local-level solutions are a particularly effective strategy.
Private sector actors, such as Energy and Water Development Corp. (OTCQB: EAWD), can also come up with innovations that authorities can use in the push to drive the energy transition faster.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
