
NEW DELHI: India’s energy transition requires a comprehensive approach and can’t solely focus on renewable energy, said Chief Economic Advisor V Anantha Nageswaran on Friday. Nageswaran, speaking to the press, emphasised that coal will remain a key component of the country’s energy mix.
He said the expansion of renewable energy must incorporate transition fuels such as natural gas, and more importantly, nuclear power. Meanwhile, the survey, released on Friday, calls for a major rise in investments in research and development focused on battery storage technologies.
It stresses the importance of improving recycling and sustainable disposal of waste from renewable energy systems. These steps are vital for ensuring a reliable and energy supply from renewable sources while safeguarding the long-term sustainability of the energy transition.
The survey said innovation in energy storage, grid infrastructure and securing critical minerals should be prioritised in short-to-medium term. Addressing these challenges will be crucial for supporting India’s renewable energy ambitions and enhancing efficiency of its power systems.
“India must leverage its best resources, advanced technologies and expertise to accelerate its journey toward becoming a developed nation by 2047 while ensuring a low-carbon pathway. Following this milestone, the country must pursue its goal of achieving net zero emissions by 2070,” reads the survey.
The survey notes India’s progress in new energy generation. As of November 30, 2024, the country has established an installed power generation capacity of 213,701 MW from non-fossil fuel sources, accounting for 46.8% of total capacity.