Mumbai, March 20 (IANS). According to a study by the Reserve Bank’s research team, India’s energy efficiency has improved by 1.9 percent between 2000 and 2023, which is more than a global average of more than 1.4 percent.
The report also states that India is far ahead of other BRICS countries, which is an average of 1.62 percent. However, India’s energy efficiency lags behind developed markets like the US and Germany, where more than 2 percent increase was seen during this period.
During 2012-22, India’s energy-related carbon dioxide emissions increased by 706 million tonnes. The main contribution to this was given by economic development.
According to the study, improving power emission intensity due to profit, structural change and increasing use of renewable energy helped reduce emissions by about 450 million tonnes.
RBI researchers said, “Later, emission factor effects are expected to play a more major role as renewable energy is rapidly replacing fossil fuels and the use of green hydrogen in industries is increasing.”
The report stated that in the last decade renewable energy has a small but significant impact on the reduction in emissions, with solar and wind energy 2.1 percent of the total primary energy in 2022–23.
The study found that despite the improvement in separating emissions from development, India needs to make more changes to achieve a pure zero target.
India should focus on the expansion of renewable energy.
The report published in the RBI’s monthly bulletin states that the solar and wind power fees are now less than the new coal power plant, which removes concerns about the high cost of renewable energy.
It has been observed in this report why carbon dioxide emissions in India increased from 2012 to 2022. For this, the Logurithmic Meen Divisional Index (LMDI) Deaksitation method was used.
It states that it divides the total emissions into some main factors, including the impact of GDP growth, improvement in energy efficiency, change in economic structure, changes in fuel structure and increasing stake of renewable energy in power generation, which reduces the carbon intensity of electrical carbon.
-IANS
SKT/AS
