Month: February 2023

Going Green and Saving Green: How Carbon Markets Can Drive Economic Growth for India’s DRE Industry?

Posted on by pmanifold@admin

Climate change has had an overwhelming impact on the planet, and it is now more critical than ever to take measures to reduce greenhouse gas emissions. Carbon markets have emerged as a promising solution to help combat this issue. By providing a platform for trading carbon credits, organizations can buy and sell these credits, which represent the amount of carbon dioxide or other greenhouse gases that have been reduced or eliminated from the atmosphere. In this blog post, we’ll explore the role of carbon markets in driving economic growth in India’s decentralized renewable energy (DRE) industry.

The DRE industry in India presents a unique opportunity for carbon markets to drive economic growth. This is largely due to India’s ambitious target of installing 500 GW of renewable energy by 2030, coupled with the fact that the country is one of the largest energy consumers globally. By embracing carbon markets, India can make significant progress in achieving its goal of reducing its carbon footprint, while simultaneously stimulating economic growth in the DRE sector. The following are ways in which carbon markets can stimulate economic growth in India’s DRE industry:

In India, the National Clean Energy Fund (NCEF) regulates the Carbon Market under the Ministry of New and Renewable Energy (MNRE). The NCEF’s primary objective is to promote the growth of the renewable energy sector by offering financial assistance via different schemes and initiatives, including the Clean Development Mechanism (CDM) and the National Action Plan on Climate Change (NAPCC).

DRE initiatives, such as mini-grids, rooftop solar installations, and biomass power plants, can generate carbon credits under the CDM program by replacing fossil fuel-based electricity production. These credits can be traded in the carbon market, providing additional revenue streams for DRE project developers.

Furthermore, by participating in the Carbon Market, DRE projects can draw the interest of green investors who are seeking sustainable investments with a positive environmental impact. Carbon credits can serve as collateral for these investments, reducing the cost of capital for DRE projects.

In addition, the Carbon Market can incentivize the adoption of energy-efficient strategies in DRE projects, as the resulting emission reductions can generate carbon credits. This can result in the creation of more environmentally friendly and energy-efficient DRE projects that produce additional revenue streams through the sale of carbon credits.

Thus, the utilization of carbon markets presents a viable opportunity for driving economic growth within India’s DRE industry. With the implementation of appropriate incentives, organizations can allocate their investments towards renewable energy projects and simultaneously generate revenue by trading carbon credits. This establishes a financial motivation for businesses to invest in the DRE sector, which would lead to amplified investments, diminished expenses, job creation, and the development of better energy security.

Hydrogen: A Path to a Cleaner Energy Future

Posted on by pmanifold@admin

The world is heavily reliant on fossil fuels, accounting for 85% of global energy use. With business-as-usual interventions, this trend is projected to lead to a 50% increase in greenhouse gas (GHG) emissions by 2050, causing harm to the environment and is main contributor to climate change. Energy related CO2 emissions accounts for two-thirds of global GHG emissions.

National governments understand these impacts and risks and are actively working towards a sustainable energy future.

Hydrogen energy is becoming crucial as the world shifts towards cleaner energy. Here’s why:

  • It is the simplest and also the most abundant element in the universe(about 75% by mass of the universe is made up of hydrogen and 90% by volume)
  • It has highest energy content of any common fuel by weight (about three times more than gasoline, diesel and natural gas), but it has the lowest energy content by volume (about four times less than gasoline)
  • It produces clean exhaust and by-product obtained is water, when burned and has great potential for decarbonization(Hydro means water and genes means to produce; so, water producer)
  • It, can be produced – separated – from a variety of sources including water, fossil fuels, or biomass, and used as a source of energy or fuel
  • It is Versatile in usage, reducing dependence on fossil fuels and imports and can be utilized from the point of production to the point of consumption including various applications like oil refineries, industries, transport, power generation, domestic, etc. which emit significant amounts of CO2. Hydrogen, can be transformed into electricity to power homes and feed industry, and into fuels for cars, trucks, ships and planes. Thus, it can promote the use of diverse domestic and sustainable energy resources
  • It can be used as an energy storage and can reduce intermittency risks of renewables

However, pure diatomic hydrogen (H2) is not naturally found. It is almost always linked to other elements. So, while hydrogen as a fuel is extremely clean, its production is not. However, several developments are now in place of older alternative hydrogen production technology where green hydrogen is produced from water via electrolysis. Pure hydrogen is a disreputably difficult gas to handle and distribute. It’s the smallest element in the universe, and prone to leak not only through seals and gaskets, but through steel itself. It is highly flammable and forms explosive mixtures with air over a large range of concentrations. To liquefy hydrogen requires chilling to -253˚C, only 20˚C above absolute zero. Where liquefying hydrogen is not practicable, it must be subjected to very significant compression to enable useful quantities to be stored. These are some challenges that need to be addressed before hydrogen can reach its full potential, such as improving production methods, reducing costs, and developing the necessary infrastructure to support a hydrogen-based energy system.

Henceforth, Today, hydrogen is primarily used as a fuel in industrial processes, but there is growing interest in using hydrogen as a clean source of energy for transportation, heating, and power generation.

And Tomorrow, hydrogen is expected to play a larger role in the energy mix, as the demand for clean energy continues to rise and new technologies make it more practical to produce, store, and use hydrogen on a large scale. Hydrogen has the potential to be a game-changer in the transition to a low-carbon future, as it can be produced using renewable energy sources and does not produce harmful emissions when burned.

Here is how, the future of hydrogen energy looks promising, and it is likely to play a crucial role in achieving a more sustainable energy future.