A country had created one hole in the atmosphere and now he’s in serious trouble: 400,000 million euros are needed. The most shocking news of the moment, together with the tree that refuels your car with energy from the atmosphere. The president COP28 has called for a global agreement to triple renewable energy capacity by 2030.
The guidelines that different countries will have to follow have not yet been established, but tripling renewable capacity should be an achievable goal for everyone. For example in the case of the India NEP14It is estimated that there will be a greater increase in renewable energy sources, according to the report of a group of experts from Ember.
If the goal is for the world to align with a net zero emissions scenario recommended by the AIEthe prognosis is that India sets higher goals than the current plan. The report notes that India will need to produce about 32% of its electricity from solar energy and 12% from wind energy by 2030.
The hole in the atmosphere will be history for India: it will need almost 400,000 million euros to make it a reality
The report finds that to achieve these levels of clean energy production, India needs to build an additional 115 GW of solar and 9 GW of wind capacity by 2030in addition to the solar and wind objectives set out in the plan NEP14. For example, India’s total renewable energy capacity will increase to 448 GW of solar energy and 122 GW of wind energy by 2030.
In this context India €394 billion in additional financing is needed to reach the net zero emissions target. The above analysis shows that the India’s 14th National Electricity Plan (NEP14) puts the country in an optimal position to triple its renewable energy capacity from now to 2030.
However, to achieve the zero net energy scenario proposed by the International Energy Agency (IEA)India needs additional financing of $101 billion. According to the study, an investment of $293 billion is needed between 2023 and 2030 so that India Stick to your current goals. According to reported estimates, the investments will be crucial in putting India on track to triple its renewable capacity by 2030.
The analysis highlights that renewable energy projects in India face investment risks, from payment delays to regulatory challenges, meaning financial barriers can mobilize investments. However, the financial requirements to achieve the goal of the PNE14 and scenario zero of the AIE They far exceed the current investment and financing capacities available in the world India.
India needs almost 400 billion to close the hole in the atmosphere
To achieve this ambition, the India’s financing capacity must triple by 2030with as a reference an investment capacity of approximately US$75 billion over the past eight years.
“Despite the investment risks, the India needs financing to build capacity in renewables, storage and transmission, including to achieve EU objectives NEP14. To further ramp up ambitions to achieve a global energy neutrality trajectory, securing significantly increased financing at competitive rates will be critical to ensure India’s viability to achieve the target. “Access to this financing is essential so that India does not have to build new coal capacity to meet growing demand this decade,” he said. Neswin Rodriguesanalyst Indian Electricity Policy by Emberinformation The Energy Newspaper.
In short, contribute to reducing hole in the atmosphere caused by pollution, India To achieve its sustainable goals, almost 400 billion euros are needed. As the funding comes in, the Asian country turns on a machine to absorb the sun.