Sustainable and Secure Future

Most high-income countries, particularly the United States, Australia, and the United Kingdom, have opposed the removal of ‘fossil fuel phase-out’ from the COP28 Global Stocktake (GST) text. In reality, these countries are opposing a ‘just and equitable phase-out’, wherein they would be required to lead the way in phasing out fossil fuels. These countries still rely on fossil fuels to meet most of their primary energy demands and continue to expand their oil and gas production.

Climate change is a universally urgent issue that impacts all nations, with interlinked consequences for economies, societies, and ecosystems. At the seat of this problem lies the unchecked, irreversible land-use change affecting about 32 per cent of the Earth’s terrestrial area. COP28 provides an opportune moment to shed some light on prioritising nature and biodiversity conservation, alongside carbon-centric strategies.

Prime Minister Narendra Modi, in his address at COP28, articulated India's steadfast commitment to environmental sustainability while maintaining a delicate balance between economic growth and ecological preservation.

As the global community once again converges at the Conference of the Parties (COP), the pivotal role of carbon markets in achieving the Paris Agreement's ambitious goal of limiting warming to 1.5 degrees Celsius takes center stage.

As the climate crisis intensifies, two terms are in sharp focus: adaptation and ‘loss and damage’ (L&D).

Adaptation is the proactive response to climate change, the art of survival using which communities and countries make deliberate choices to prepare for and cope with climate-related challenges.

As India dons the role of a solar superpower, a crucial hurdle in the country’s journey to self-reliance in this sector is the availability of the key raw material—polysilicon. It is a semiconductor that helps convert photons to electricity, thereby forming the brick of solar cells. The production of polysilicon—an energy-intensive material—requires copious amounts of high-quality silicon. While silicon is abundantly found in India and the rest of the world, competition for the mineral is extremely high.

So far in this series, we discussed different aspects of India’s solar PV sector, including taxation, policies, and the journey towards sustainability. In this concluding piece, we focus on popular technologies, innovations, challenges, and opportunities.

India’s solar photovoltaics (PV) market is rapidly growing. However, to reach the ambitious goal of 500 GW of renewable energy by 2030, there is a pressing need to increase installed capacity and generation targets. With only around 62 GW of installed solar capacity achieved by the end of 2022, India fell short of its 100 GW target for the year. Favourable policies, financial support, technological advancements, and a competitive market are essential for further advancing the growth of India’s solar PV sector.

In the previous article, we discussed the gaps in key areas that hamper the sustained growth of India’s solar PV market. In this article, we shift our focus to two critical aspects that are influencing the sector - ALMM and BCD.