Raising ambitions on accelerating a clean energy

RE100 is a global initiative bringing together the world's most influential businesses committed to 100% renewable electricity. Led by the Climate Group and in partnership with CDP, their mission is to accelerate change towards zero-carbon grids at scale.

Clean energy works by producing power without having negative environmental impacts, such as the release of greenhouse gases like carbon dioxide. The session talked about the Indian business, their stand on RE100 (Renewable Energy), their potential growth,
and their impact on the environment.

 

Need to move towards RE100

The primary reason for the companies to move towards RE100 program is less costly source of energy and hence more productivity. This is the reason why IT companies like Infosys has already committed towards being carbon neutral long before RE commencement.

Also, the demand for a cleaner source of energy is coming from the market, i.e., institutions, industries and the customers as well.

One point in that explains the inclinations of companies towards RE is that the conventional sources of energy are not sustainable, Coal as a resource will most likely vanish in the coming four or five decades. This means that moving towards RE is not even a choice for big companies, it’s a reality that they have to adjust and prepare for.

 

What are the problems in shifting energy from conventional to renewable source?

·       Viability in the future market- the commercialization of battery storage

·       Building Ecosystem – From manufacturing to the actual use of energy it should be made feasible. This will need money to be put in the industry which demands political vision.

·       Incentive to Customers- Incentives for the end users to use and buy RE friendly products such as electric vehicles etc.

·       Distribution Channels- These channels see this shift in energy as adversities and see them as their wipe off hence creating every possible barrier that they can. They should be on the table and should be helped in modernizing their current technology to be at par with the change.

 

What is the road ahead for India towards Clean Energy?

o   Solar and Hydrogen power as an alternative in industries as Green Hydrogen is a replacement for carbon in Steel Industry due to its low carbon footprint, unlimited availability and low cost.

o   Focus on collaboration of companies with industries, NGOs, government bodies.