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India’s wind capacity increases more than 5 times as auto industry transitions to clean energy

India has increased its wind energy capacity by more than five times, and nearly doubled its solar capacity, between 2016 and 2022, a testament to the fact that the country’s increase in renewable capacity has outpaced the growth of coal energy. Has been left behind. India has set ambitious targets for clean energy transition and the automotive industry will play a key role in this journey, according to a report by Zero Carbon Analytics, an international research group that provides insights and analysis about climate change and energy transition.

Sales of electric motorbikes and scooters to increase by more than 3,000 percent from 2015 to 2022.

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India’s journey towards clean energy transition

India plans to ensure a clean energy transition by reducing carbon dioxide emissions. The country has committed to reducing its cumulative emissions by one billion tonnes by 2030, increasing renewable capacity by 500 GW by 2030, reducing emissions intensity of GDP by 45 per cent by 2030 and meeting 50 per cent of energy needs from renewable energy. Have promised. According to the Union Ministry of New and Renewable Energy. Emission intensity refers to the amount of emissions per unit of GDP. Therefore, it is important to reduce emission intensity to ensure that less pollution is produced per unit of GDP.

The renewable energies from which India aims to meet 50 percent of its energy needs are solar and wind energy.

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India has made significant investments in energy transition to achieve its green goals. In 2021, India ranked seventh among countries making the largest investments in energy transition.

That year, India invested approximately US$11 billion in renewable energy and US$1.6 billion in electrified transportation. In 2022, India plans to double investments in electrified transportation to about US$3.5 billion.

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Such investments are important because they ensure economic growth, and create employment opportunities in the energy and transportation sectors. By investing in renewable energy and electrified transportation, India can curb carbon emissions and enhance the country’s air quality, especially in densely populated cities.

India has increased its wind capacity by 22 percent and solar capacity by 18 percent every year from 2000 to 2022.

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According to the report, after the Paris Agreement, India increased its wind capacity by 533.7 percent and its solar capacity by 46.2 percent from 2016 to 2022.

The contribution of India’s wind and solar power to electricity in 2022 was nine percent. Overall, renewable energy sources were responsible for 20.5 percent of electricity production. India’s coal capacity declined from 19 GW in 2015 to 4 GW in 2021.

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Favorable government policies and technological advancements have ensured rapid growth in renewable energy.

The Government of India has stated that the automotive industry is not only key to India’s clean energy transition, but also an important driver of economic growth. It is estimated that India’s electric vehicle market will grow by 49 percent from 2022 to 2030.

About 10 million units of electric vehicles are sold annually. This has made India one of the fastest growing EV markets in the world. By 2030, the industry is expected to create 50 million direct and indirect jobs in the country.

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Asia’s investment in renewable energy

Other Asian countries that have made significant progress in energy transition are China and Vietnam. Since 2004, Asia’s investment in renewable energy has grown rapidly. The average annual growth rate has been 23 percent.

In 2022, Asia’s investment in renewable energy was US$345 billion.

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Asia’s share in global wind and solar energy capacity in 2022 was 52.5 percent.

Between 2000 and 2022, China had the fastest growing deployment of wind and solar power in the world.

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China is a leading buyer and manufacturer of solar and wind technologies and electric vehicles.

Between 2018 and 2022, Vietnam plans to increase its solar capacity by 18,380 percent.

Vietnam is the country with the second largest sales of electric motorbikes and scooters in the world.

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