India is one of the fastest-growing economies in the world and has seen a significant increase in energy consumption in recent years. The energy sector in India is dominated by coal, which accounts for about 70% of the country's total electricity generation. However, the government has been working to diversify the country's energy mix and increase the use of renewable sources of energy.
India's energy sector is at a critical juncture, as the country seeks to balance the need for continued economic growth with its commitments to reduce greenhouse gas emissions and improve energy security. To achieve these goals, India must take a multi-pronged approach that includes expanding renewable energy sources, improving energy efficiency, and adopting cleaner fossil fuel technologies.
Renewable energy sources, including solar, wind, and hydropower, are expected to play a crucial role in India's energy mix in the coming years. The journey towards clean and smart energy began in 2015 when India announced its ambitious target of achieving 175 GW of renewable energy by 2022, including 100 GW of solar, 60 GW of wind, 10 GW of bioenergy, and 5 GW of small hydro power. The target was later revised to 450 GW by 2030.
The future roadmap for India's energy sector is focused on achieving its target of 450 GW of renewable energy by 2030. The government plans to achieve this target by increasing the share of solar energy in the country's energy mix, expanding the wind energy capacity, and promoting the adoption of bioenergy and small hydro power.
In addition, the government plans to promote the adoption of EVs in the country by providing financial incentives, setting up charging infrastructure, and promoting the domestic manufacturing of EVs and EV components.
India's future course of action in the energy sector must be a holistic approach that balances economic growth with environmental sustainability and energy security. This requires a focus on expanding renewable energy, improving energy efficiency, and adopting cleaner fossil fuel technologies, while also collaborating with other countries and international organisations to achieve these goals.
The Elets 5th National Energy Summit, Punjab 2023 is a prominent event of India's energy sector that aims to bring together key stakeholders, experts, policymakers, and business leaders to discuss the latest developments, trends, and challenges facing the country's energy industry. The Elets National Energy Summit provides a forum for stakeholders to exchange ideas, explore partnerships, and collaborate on innovative solutions to address the challenges facing India's energy sector.
The one-day event aims to facilitate knowledge-sharing and networking among industry players, policymakers, and investors covering a wide range of topics, including energy transition, clean technologies, renewable energy, smart grids, energy storage, green hydrogen, electric mobility, and energy efficiency among others. The event will feature keynote speeches, panel discussions, and presentations by industry experts and leaders.