WORLD ENERGY TRANSITIONS OUTLOOK 2022

Recently, the International Renewable Energy Agency (IRENA) launched the World Energy Transitions Outlook 2022 at the Berlin Energy Transition Dialogue.
The Berlin Energy Transition Dialogue (BETD) has become a leading international forum for key stakeholders of the energy sector.
Energy transition refers to the global energy sector’s shift from fossil-based systems of energy production and consumption — including oil, natural gas and coal — to renewable energy sources like wind and solar, as well as lithium-ion batteries.
The Outlook sets out priority areas and actions based on available technologies that must be realised by 2030 to achieve net zero emissions by mid-century.
It also takes stock of progress across all energy uses to date, which shows that the current pace and scale of the renewables-based transition is inadequate.
It provides in-depth analysis of two areas particularly relevant for the decarbonisation of end-use sectors: electrification and bioenergy.
It also explores the socio-economic impacts of the 1.5°C pathway (under Paris Agreement)and suggests ways to speed progress towards universal access to clean energy (renewable energy).

Findings of the Outlook

Global annual additions of renewable power will triple by 2030 as recommended by the Intergovernmental Panel on Climate Change.
At the same time, coal power will have to resolutely be replaced, fossil fuel assets phased out and infrastructure upgraded.
The Outlook sees electrification and efficiency as key drivers of the energy transition, enabled by renewables, hydrogen, and sustainable biomass.
End-use decarbonisation will take centre-stage with many solutions available through electrification, green hydrogen, and the direct use of renewables.
High fossil fuel prices, energy security concerns and the urgency of climate change underscore the pressing need to move faster to a clean energy system.

The Recommendations

Short-term interventions addressing the current energy crisis must be accompanied by a steadfast focus on mid- and long-term goals of the energy transition.
Renewables will have to scale-up massively across all sectors from 14% of total energy today to around 40% in 2030.
The largest energy consumers and carbon emitters will have to implement the most ambitious plans and investments by 2030.
Countries need to set more ambitious targets and implement measures to ramp up energy efficiency and deployment of renewables.
To fulfill the 1.5°C Scenario, the electricity sector will have to be thoroughly decarbonised by mid-century, with solar and wind leading the transformation.

International Renewable Energy Agency (IRENA)

It is an intergovernmental organisation, it was officially founded in Bonn, Germany, in January 2009.
It has 167 members and India is the 77th Founding Member of IRENA.
It has its headquarters in Abu Dhabi, United Arab Emirates.
The country’s installed Renewable Energy (RE) capacity stands at 150.54 GW (solar: 48.55 GW, wind: 40.03 GW, Small hydro Power: 4.83, Bio-power: 10.62, Large Hydro: 46.51 GW) as on 30th Nov. 2021 while its nuclear energy based installed electricity capacity stands at 6.78 GW.
India has the 4th largest wind power capacity in the world.
This brings the total non-fossil based installed energy capacity to 157.32 GW which is 40.1% of the total installed electricity capacity of 392.01 GW.
At COP26, India announced that it will reach carbon neutrality by 2070 as part of a five-point action plan that included reducing emissions to 50% by 2030.

Rank of India in the Energy Transition Index:

India ranked 87 out of 110 countries in the Global Energy Transition Index (ETI) 2021, a benchmark by the World Economic Forum.

SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT

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