Every year, India’s energy consumption from fossil fuels is worth approximately Rs 7 trillion. Adding other monetary expenses such as taxes and subsidies would further increase the expenditure, creating an even bigger energy exchequer for the government. To meet the climate goals, it is imperative to see the amount of fossil-free energy in the energy exchequer. From a sustainable development standpoint, for benefits to outweigh costs, decarbonisation of the energy sector is the need of the decade.
Though renewable energy sources have gained much-needed traction, this decade will determine where we are in terms of the overall progress—often measured as the carbon intensity of energy (CO2/PJ). A scalable and carbon-free source could significantly tilt the carbon intensity of energy sources towards an acceptable norm. Hydrogen has that potential, especially green hydrogen.