India’s Union Minister for Power and New & Renewable Energy, Shri R. K. Singh, stressed the importance of global cooperation in solving key issues hindering the transition to clean energy. Speaking at the inaugural session of the High-level Conference on New Technologies for Clean Energy Transition, held in New Delhi on November 1, 2023, Shri Singh emphasized that the goal of achieving Net Zero emissions will remain elusive unless the world addresses challenges such as the lack of diversification in solar manufacturing capacity and supply chains.
The conference, organized in conjunction with the Sixth Session of the International Solar Alliance Assembly, brought together the Ministry of New & Renewable Energy, the Asian Development Bank, and the International Solar Energy Society to discuss critical issues in the renewable energy sector.
Shri Singh highlighted the critical role of energy storage in maximizing the use of renewable energy and the need for global collaboration in research and development to advance solar technologies. He pointed out that while India has made significant progress in transitioning to renewable energy, manufacturing capacity remains a challenge.
To address these challenges, Shri Singh called for investments and research in alternative chemistries for energy storage and the expansion of manufacturing capacities. India has already taken steps in this direction, with plans to establish significant manufacturing capacity for solar modules by 2030.
The conference also focused on the importance of improving the efficiency of solar technologies to reduce the cost of electricity, especially in developing countries. Shri Singh underlined the need for financial support from developed nations to ensure energy access and transition to cleaner energy sources for countries that lack the necessary resources.
India has set ambitious targets for renewable energy, aiming to achieve a capacity of 500 GW by 2030, with 50% of its energy coming from non-fossil fuel sources. The country is also making substantial investments in green hydrogen and green ammonia production.
The conference serves as a platform for global collaboration and knowledge sharing to accelerate the transition to clean energy and address climate change challenges. It aims to make solar energy the preferred energy source, reduce carbon emissions, expand energy access, and stimulate economic growth on a global scale. The event also featured the release of reports on technology, investments, markets, and a roadmap for developing and scaling the green hydrogen ecosystem.
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