India moves to meet climate targets with renewable energy
India took another step toward meeting its climate goals on Tuesday August 9 when lawmakers in the lower house approved legislation that would require more renewable energy and force industrial polluters to pay a price for the carbon they emit.
The Bill sets out a minimum energy use requirement for corporations and residential buildings. It grants clean energy users carbon-saving certificates that can be sold or traded and sets out a new energy efficiency standard in homes, which account for 24 per cent of India's electricity use.
There are penalties for corporations that don't use renewable energy sources to power their operations.
The legislation will go through the upper house of the parliament.
Madhura Joshi said the Bill is a positive step towards India's climate targets. India's energy transitions lead at E 3 G, a think tank.
As a result of this bill, India's industries and homes will be boosted as a result of clean energy sources, he said.
India committed last week to reducing emissions caused by activities for the nation's economic growth by 45 per cent by 2030 from 2005 levels. By 2030, the country plans to get half of its energy needs from non-fossil fuel-based energy sources, and promote a federal government program that encourages people to make green lifestyle changes.
Every unit of energy saved or conserved is critical for reducing emissions, said Bharath Jairaj, who leads the World Resources Institute's India energy program. He said that including large residential buildings into building codes that require energy conservation is a key highlight of the Bill and reducing emissions.
Scientists say that cutting greenhouse gases is essential for limiting the effects of climate change, which has already brought hotter weather and more devastating floods to India.
The Bill is the first time that the Indian government has proposed a carbon trading system. Jairaj said that the carbon market in India is still a young idea, unlike in a few other parts of the world.
He said that it is bound to become an important tool to reduce greenhouse gas emissions in India.