India's economy is among the fastest growing in the world, and as a result, its need for energy has increased significantly. Achieving complete energy independence for the nation is now necessary. For this, multifaceted efforts are needed in a number of areas, including energy production, energy efficiency, and carefully thought-out legislative changes.
About 55% of India's energy demands are currently satisfied by coal. This resource is non-renewable. From 249 million tonnes in 2019-20 to around 218 million tonnes in 2022-2023, coal imports have drastically declined. A boost in domestic production, which was predicted to have reached 893 million tonnes in 2022–2023, made this possible. The government plans to increase this by 1.3 billion tonnes by the year 25 or 26.
Transportation Sector-
One of India's key energy sources is crude oil, which is primarily used in non-renewable energy sources. Due to the rapidly growing local demand for gasoline, imports will make up an all-time high 87% of domestic consumption in 2022–2023 at that point. Increased adoption of electric vehicles (EV) may be one strategy to reduce the country's reliance on oil. To encourage the use of electric vehicles more, the Indian government has already started to expand its policy. The government is funding the construction of infrastructure for charging stations, battery manufacturing, and exchange facilities. Together with the promotion of engaging advertisements for electric vehicles, this will aid in the nation's sustainable development and get it closer to energy independence.
Broad ethanol blending also provides India with a triple win by generating jobs in agriculture, drastically reducing foreign exchange expenditures, and decreasing expenses.
Using the Renewable Energy Sources-
Renewable energy sources like solar, wind, water, etc., will be profitable in the long run. Our country receives roughly 300 days (or 10 months) of sunshine annually due to its proximity to the equator. Due to its huge undeveloped landmass, India is a suitable location to produce solar electricity. A number of attractive offshore wind options are available along the nations approximately 7500 km (about 4660.28 mi) of coastline, while hydropower has a capacity of about 145,000 MW. Furthering the development of these sources will assist in the achievement of energy independence by reducing the reliance on nonrenewable energy sources.
The Important Milestones and the Future Journey-
India is currently the fourth-largest wind power generator and the fifth-largest solar electricity generator in the world, with new technology and capacity being added every single day. Additionally, nuclear power plants with a 6.78 GW capacity have been developed. Green energy accounts for producing about 42% of the nation's electricity. This has flourished thanks to investments and government incentives.
Enhancing the Regulatory Framework-
The Indian government supports initiatives and new businesses involved in both sustainable energy production and storage. In the end, this will help India establish itself as a major player in the world market for clean energy and power. The programmers will contribute to greater energy independence for India. As a result, the country's GDP will increase, we'll gain international prominence, and we'll achieve energy independence.
Ratul Puri, the Chairman of Hindustan Power Projects Private Limited (HPPPL).