Over the course of five years, India along with some others countries will be the key focus in regard to renewable energy. As they are the emerging leaders among the extraordinary increase in renewables energy deployment. India officially took the presidency of the group of the twenty countries who annually rotates it between its members forming the most powerful inter-governmental forum also known as G-20.
In a recent interview International Energy Agency chief Fatih Birol praised India’s G-20 Presidency. He said that "We are now working towards a new and extraordinary growth phase of renewables. But with the accelerated growth, concerns about energy security, the economy, as well as climate change are also growing. So the prime focus will be to increase the pace of renewable energy deployment but for this to happen we will require investment to flow, from emerging and developing economies.”
He further explained that India's G20 presidency has taken the spotlight. As India has taken over the presidency from another developing country, like Indonesia which in the current Ukraine war situation found it difficult to adjust time for meetings not being able to give their full participation. Later by 2023, India will hand it over to Brazil. Giving India the opportunity to showcase its recent successes in the net-zero strategy.
India's G20 Presidency Takes Lead
The IEA chief said that India has come up with an effective plan. Showing that to move faster a developing country will need financial and technological support. But it can yet manage its clean energy transition by itself.
Total renewable energy capacity is set to double in the next five years, according to the International Energy Agency. Over the course of the next five years (2022-27), global renewable power capacity will increase to 2400 GW.
Birol further added, "The world in the next five years is expected to expand the renewable capacity as much as it did in the last 20 years. Or to come up with other ideas, that will put the world's renewable energy capacity equal to China’s entire power generation capacity today.”
The IEA chief also stated that the "extraordinary expansion" will be primarily led by the United States, China, European Union, and India. Bringing forward a historical turning point amid the current energy crisis walking towards a world energy system that focuses on a clean and secure future with required amounts of pure energy for everyone. The acceleration in the renewal will help in controlling and limiting global warming to 1.5 degree celsius.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
