Introduction:
The International Energy Agency (IEA) has recently released its World Energy Outlook 2022 report which stated that global emissions will peak in 2025. This report explores key questions about the crisis, including setbacks for clean energy transitions, government responses on energy markets and possible risks ahead on the path to net zero emissions. Talking specifically about India, the 524-page report says that the primary challenge for the country is going to be about meeting its rising electricity demand. Citing government programmes such as Gati Shakti National Master Plan and the Atmanirbhar Bhart scheme along with strong economics it says that India will see a robust growth in renewables and electric mobility, notably for two/three‐wheelers. The World Energy Outlook report also states that the global energy crisis sparked by the Ukraine conflict is having far-reaching implications for entire economies, prompting short-term responses from governments as well as a deeper debate about the ways to promote energy security.
Russia’s invasion of Ukraine has sparked a global energy crisis:
Policy responses are fast-tracking:
Clean electricity are poised for a faster transformation:
Challenges:
Way Forward:
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