Balancing Energy and commercial interest
India must harness its best resources, advanced technologies, and expertise to become a developed nation by 2047 while ensuring a low-carbon pathway.
Shutting down coal plants without adequate alternatives is not advisable, as energy security and commercial interests are key factors in energy transitions.
Global examples
Past energy transitions in advanced economies were driven by commercial interests, not emission goals, and they continue to rely on fossil fuels.
France expanded nuclear power in the 1970s due to oil embargoes, and the EU's REPowerEU plan invested €10 billion to reduce dependence on Russian gas.
The U.S. approved its largest oil drilling project in Alaska in 2023, showing continued reliance on fossil fuels by developed nations.
India’s transition
India's coal plants, expanded in the 2010s, should not be shut without a dependable alternative, as this would lead to wasted investments.
India must focus on achieving net-zero emissions by 2070, prioritizing renewable energy innovations like battery storage and grid infrastructure.
Energy transition and energy security pose challenges, as seen in developed countries’ reliance on both fossil fuels and renewables.
Transitioning to renewables has raised electricity prices and led to congestion costs in managing a mixed energy system.
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