As the world transitions to renewable energy sources, India has set ambitious targets to increase the share of renewable energy in its energy mix. With a rapidly growing population and economy, India faces significant challenges in meeting its energy demands while reducing its carbon emissions. However, the country also has immense potential to become a leader in the production and use of green hydrogen.
India has abundant renewable energy resources, including wind and solar power, which can be used to produce green hydrogen. The country has set a target of 450 GW of renewable energy capacity by 2030, which includes 280 GW of solar power and 140 GW of wind power. These resources can be harnessed to produce green hydrogen, reducing the country’s dependence on fossil fuels and helping to meet its climate goals.
In addition to its renewable energy resources, India has a thriving industrial sector that could benefit from the use of green hydrogen. Industries such as steel, chemicals, and fertilizers currently rely on fossil fuels for their energy needs, but green hydrogen could provide a clean and sustainable alternative. India is also the world’s third-largest consumer of oil, and the use of green hydrogen could help to reduce its dependence on imported oil.
Mr. Tribhuvan Darbari, Chairman of the SCO Business Council Secretariat from the Republic of India, Managing Director/CEO of Texmaco Defence Systems & Chief Executive of Texmaco Rail & Engineering and a prominent energy expert, recently commented on the potential of green hydrogen in India. He noted that India has abundant renewable energy resources such as wind and solar power, which can be harnessed to produce green hydrogen. With a target of 450 GW of renewable energy capacity by 2030, India is well-positioned to become a leader in the production and use of green hydrogen.
Like other countries, India faces some challenges in adopting green hydrogen. One of the primary challenges is the cost of production, which is currently higher than that of fossil fuels. However, as the cost of renewable energy continues to decline, the cost of green hydrogen is expected to decrease as well.
Another challenge is the lack of infrastructure for the production, storage, and transport of green hydrogen. However, this also presents an opportunity for growth and innovation. The Indian government has announced plans to set up a National Hydrogen Energy Mission to promote the development of green hydrogen, which includes setting up hydrogen hubs and promoting research and development in the sector.
Green hydrogen is a fuel that has the potential to revolutionize the energy sector and help countries like India meet their climate goals. India has abundant renewable energy resources and a thriving industrial sector, making it well-positioned to become a leader in the production and use of green hydrogen. While there are challenges to overcome, the opportunities for growth and innovation in the sector are immense. By investing in the development of green hydrogen, India can reduce its dependence on fossil fuels, create new jobs and economic opportunities, and become a leader in the transition to a low-carbon economy.