In Short : On Akshay Urja Day 2024, India showcases significant progress in advancing renewable energy. The nation has been making strides in solar, wind, and other green energy sources, contributing to its goals of energy sustainability and carbon reduction. This annual observance highlights India’s commitment to transitioning towards a cleaner and more sustainable energy future.
In Detail : Akshay Urja Day provides an opportunity to showcase India’s commitment to renewable energy transition. But how does the government envisage achieving 500 GW of installed electricity capacity from non-fossil fuel by 2030?
Every year on August 20, Akshay Urja Day is celebrated to underscore the significance of renewable energy sources and to highlight the strides India has made in advancing the same. In the last decade, for instance, the installed renewable energy capacity of India increased 165 per cent from 76.38 GW in 2014 to 203.1 GW in 2024.
Initiated in 2004 by the Ministry of New and Renewable Energy, the observance provides an opportunity to showcase India’s commitment to renewable energy transition as it aims at achieving 500 GW of installed electricity capacity from non-fossil fuel by 2030.
The date also marked the birth anniversary of India’s former Prime Minister Rajiv Gandhi, who played a pivotal role in promoting and supporting sustainable development and renewable energy initiatives.
Significance and objectives
The word ‘Akshay’ is derived from Sanskrit, which means “eternal”, “indestructible” or “imperishable”. Hence Akshay Urja stands for “eternal energy”, which is synonymous with Renewable Energy, symbolising the endless and sustainable nature of such energy sources.
India’s rapid industrialisation and growing population have significantly increased energy demand, leading to a heavy reliance on fossil fuels. But these resources are finite and their consumption is damaging the environment irreparably.
Renewable energy sources such as solar power, hydroelectric power, and wind power can be harnessed repeatedly without depleting natural resources, making them essential to a sustainable future. Therefore, expanding the scope and uses of renewable energy sources is critical to reducing the dependence on fossil fuels and combating climate change.
In addition, the shift to renewable energy sources, which has gained critical priority not just in India but also worldwide, will stimulate economic growth by creating sustainable jobs and lowering long-term energy costs.
Resultantly, major objectives of the Akshay Urja Day include: a) underlining the importance of renewable energy resources in India’s energy planning, b) raising awareness about renewable energy’s benefits in reducing dependency on traditional fossil fuels, and c) transitioning to renewable energy to combat climate change.
Types of Renewable Energy
1. Solar Energy: Solar energy is harnessed from the sun’s radiation. It can be transformed into electricity using solar panels (photovoltaic cells) or alternatively can be utilised to produce heat through solar thermal systems. Due to its abundance, solar power stands out as one of the most widely available renewable energy sources. China, the US, India and Japan are among the world’s leading producers of solar power.
2. Wind Energy: It is generated by converting the kinetic energy of wind into electricity using wind turbines. Onshore and offshore wind farms have become a significant contributor to the renewable energy mix in many countries like China (342 GW) and the US (139 GW).
3. Hydropower: It is created by harnessing the kinetic energy of flowing water in rivers, dams, waterfalls, etc. It is one of the oldest and most widely used forms of renewable energy. China, Brazil, and Canada are the largest consumers of hydropower across the globe.
4. Biomass Energy: Biomass is produced from organic materials such as plant residues, animal waste, and wood. It can be heated or converted to liquid or gaseous fuels for consumption. Its usage includes heating, electricity generation, or biofuels for transportation. It is considered renewable because the materials used can be regrown or replenished.
5. Geothermal Energy: This form of energy is derived from the Earth’s internal heat. These can be naturally occurring hot water reservoirs or can be man-made. Occurring at various depths and varying temperatures below the earth’s surface, these geothermal resources can be used for electricity generation and direct heating applications. Geothermal power plants which produce electricity, typically utilise steam or hot water from underground reservoirs. The US, Indonesia, and the Philippines are the leading producers of geothermal energy.
6. Tidal and Wave Energy: It harnesses the movement of ocean water to generate electricity. Tidal energy relies on the gravitational pull of the moon and the sun, whereas wave energy captures the energy of surface waves. South Korea, France, and the UK are the leading consumers of tidal energy.
Progress of India in Akshay Urja
On October 2, 2015, India submitted its first Nationally Determined Contribution (NDC) to the United Nations Framework Convention on Climate Change (UNFCCC). It became a signatory to the UNFCCC and its Paris Agreement – an international treaty adopted in 2015, which operates on a five-year cycle of increasingly ambitious climate action plans known as NDC.
India’s Nationally Determined Contribution (NDC) initially included two main goals: First, to reduce the emissions intensity of its GDP by 33-35 per cent by 2030 from 2005 level, and second, to achieve about 40 per cent of its total installed electric power capacity from non-fossil fuel energy resources by 2030.
In August 2022, India updated these targets: The goal for reducing the emissions intensity of GDP was increased to 45 per cent by 2030 from 2005 level, and the target for non-fossil fuel-based energy capacity was raised to 50 per cent by 2030.
In addition, India has set itself a target of achieving 500 GW of renewable energy capacity by the year 2030 (as announced by Prime Minister Narendra Modi at the COP26 summit in Glasgow, UK). Furthermore, India is potentially aiming for 1 TW (form 500 GW) by 2035. India has also set a target of achieving net-zero carbon emissions by 2070.
India has made significant progress in renewable energy and achieved an installed renewable energy capacity of 191 GW (38.2% of target) as of May 2024. This capacity includes solar power (around 85 GW), wind power (around 46 GW), large hydropower (around 45 GW), Biomass (around 10 GW), small hydropower (around 4.5 GW), and Waste-to-Energy (0.5 GW).
Key schemes to achieve renewable energy targets
India has implemented various schemes to achieve its renewable energy targets. Some of the key schemes that have contributed to this include:
— Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan scheme (PM-KUSUM): This scheme promotes the installation of small grid-connected solar power plants, standalone solar pumps, and solarisation of existing grid-connected pumps in rural areas.
— Production Linked Incentive (PLI) scheme for High Efficiency Solar PV Modules: This initiative aims to establish large-scale manufacturing of high-efficiency solar PV modules in India, reducing dependence on imports and enhancing domestic production capacity.
— Grid Connected Rooftop Solar program (Pradhan Mantri Suryodaya Yojana): Under this scheme, solar PV panels are installed on the roof of a building to meet the electricity needs of the building. Surplus solar power units generated from the rooftop solar plant can also be exported to the grid.
— Development of Solar Parks and Ultra Mega Solar Power: Initiated in December 2014, this programme aims to facilitate solar project developers in setting up projects expeditiously. This initiative helps in establishing “transmission infrastructure, road, water, drainage, communication network etc., with all statutory clearances” for the rapid development of solar energy projects.
— Green Energy Corridor Scheme: The series of infrastructure projects under this scheme aimed at synchronising the power generated from renewable energy sources with the national grid of India.
— National Green Hydrogen Mission (NGHM): The Ministry of New and Renewable Energy (MNRE) implemented the NGHM with a target to achieve a production capacity of 5 million tonnes per annum of Green Hydrogen by 2030. This will support an addition of about 125 GW of renewable energy capacity in our country.
— National Bioenergy Programme (NBP): Under this initiative, the use of bioenergy is promoted. It aims to enhance the energy security of India through the Waste to Energy Programme, Biomass Programme, and Biogas Programme.
— Permitting Foreign Direct Investment (FDI) in renewable energy: The government permits FDI up to 100 percent under the automatic route, allowing foreign investors to invest without prior approval. This streamlines the investment process and encourages foreign participation in the renewable energy sector.
