Challenges in Renewable Energy

Why in news?

International Energy Agency (IEA) has called for government to commit to tripling global renewable capacity by 2030 ahead of COP 28, but some key players have not signed the pledge.

What are the challenges of increasing renewables energy?

• Hydroelectric power- Large dams are difficult to construct due to environmental and regulatory issues.
• Unrealistic goal-Around 57% of hydroelectric power is of renewable energy, but tripling its capacity by 2030 is unlikely.
• Solar power- It is limited by daylight hours, land availability, environmental impacts, and import dependence.
• High cost-Solar panels also need efficient and costly storage solutions to match peak demand and overcome intermittency.
• Import dependency- Amy countries depend on China for solar panels or raw materials, it increases the import costs.
• Wind energy -It is affected by weather conditions, site availability, and material emissions.
• Structural issues- Wind turbines also face the problem of intermittency and require backup or storage solutions to provide stable power.
• To triple renewable energy by 2030 the solar and wind output must increase by at least 5 times.
• Issues with fossil fuel- The COP 28 pledge does not specify reducing fossil fuels, which cause over 80% of greenhouse emissions. The US and other countries still subsidize and use fossil fuels extensively.
• Fund deficit- The transition to renewables requires massive investments, which can burden poorer countries and affect their budgets for essential services.

Despite the challenges, renewable energy capacity has more than doubled globally in the past decade, with costs declining significantly. By 2035, renewable electricity generation is expected to surpass fossil fuel production.

To know more about the challenges in tripling global renewable energy capacity, click here

What is India’s stand with respect renewable energy?

• India’s status- India is the 3rd largest energy consuming country in the world.
• As per Renewables 2022 Global Status Report, India stands
  • 4th globally in renewable energy installed capacity
  • 4th in wind power capacity
  • 4th in solar power capacity
• India has already achieved its target of 40% installed electric capacity from non-fossil fuels.
• Renewable energy target- India has set an enhanced target of 500 GW of non-fossil fuel-based energy by 2030, which is the world’s largest expansion plan in renewable energy.
• Carbon neutrality-India has also pledged to achieve net-zero emissions by 2070.
• Tripling renewables proposal- India didn’t sign the pledge as a report has found that India would need an investment of about 293 billion dollars to triple its renewable energy installed capacity by 2030.
• Reliance on coal- India is not comfortable with the coal phase out target as it need to focus on poverty reduction and economic growth, hence it did not sign the pledge.

References

1. Business Line- Limits to push renewables
2. World Economic Forum- Triple Renewables energy story