Summary:

According to the Climate Risks Horizon report, India may eliminate its dependence on thermal coal imports by 2029 by generating 50 gigawatts of renewable energy annually. This shift could save over Rs. 5,61,066 crore (US$ 66 billion) in foreign exchange between 2025 and 2029, and Rs. 14,70,673 crore (US$ 173 billion) from 2025 to 2034. India’s coal imports increased by 58% between 2013 and 2023, due to price volatility.

Dependence on imported coal poses risks to India’s energy sector, including disruptions caused by political instability, natural disasters, and fluctuating energy costs. Urbanization, industrial expansion, and the adoption of electric technologies are contributing to rising electricity consumption. Per capita consumption increased from 957 kWh in 2013 to 1,331 kWh by 2022. The government aims to achieve 500 gigawatts of non-fossil fuel energy by 2030, adding 50 gigawatts of renewable energy annually until 2027-28.

Source: IBEF

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