Budget 2023: Accelerating Green Transition through the National Green Hydrogen Mission – EQ Mag
India’s National Green Hydrogen Mission is a government initiative aimed at promoting the use of hydrogen as a clean and renewable energy source in the country, and it has just received INR 19,700 crore rupees as a part of the national budget 2023.
This is to help facilitate the transition of the economy to low carbon intensity and reduce dependence on fossil fuel imports. This mission has the potential to transform the energy sector in India, reducing the country’s dependence on fossil fuels and contributing to a cleaner and more sustainable future.
One of the main objectives of the Mission is to increase the production of hydrogen in India. The mission aims to achieve this by promoting the development of hydrogen production technologies such as water electrolysis, steam methane reforming, and biomass gasification. The government is also providing financial and technical support to companies and research institutions working on the development and commercialization of these technologies.
Another important objective is to increase the use of hydrogen as a fuel for various applications, including transportation, industrial processes, and power generation. Hydrogen has the potential to replace fossil fuels in these sectors, reducing greenhouse gas emissions and contributing to a cleaner environment. The government is also promoting the development of hydrogen fuel cell technologies, which can store and use hydrogen as a clean and renewable energy source.
In addition to promoting the production and use of hydrogen, the Mission is also aimed at creating a favourable policy and regulatory environment for the growth of the hydrogen industry in India. This includes providing tax incentives, reducing import duties, and establishing hydrogen production and distribution infrastructure across the country. The government is also working to create a skilled workforce to support the growth of the hydrogen industry and ensure that the necessary technical and professional skills are available.
The Mission has the potential to make a significant contribution to India’s energy security and sustainable development. Hydrogen is a clean and renewable energy source that can be produced from a variety of sources, including water, natural gas, and biomass. By increasing the production and use of hydrogen, India can reduce its dependence on fossil fuels, reduce greenhouse gas emissions, and contribute to a cleaner and more sustainable future.
Source: PTI
