Energy Transition in India

Abstract

Energy transition is a strategic necessity for countries that are dependent on fossil fuel sources. Several factors demand this shift. First, the over-dependence on fossil fuels is one of the major reasons for the increasing energy-related emissions. Second, for the countries that are relying on overseas supply of fossil fuels, increasing import bill is a major economic burden. Third, the conventional hydrocarbon fuels, especially oil and gas resources, have been facing the various geopolitical vulnerabilities. The challenges that affect its production, transportation and supply lead to price volatility in the market, which directly affect the import-dependent economies. Transitioning to a mix of cleaner sources is critically important not only to reduce overseas dependency but also to curb energy-related emissions and vulnerability to price fluctuations. While geopolitical, economic and security reasons often termed as the major factors that catalyse the energy transition, concerns about climate change remain to be the cardinal element that drive the process in today’s world. This article examines the role of India’s climate change agenda as it takes the central stage in the energy transition process.