- The world over concerns for fossil fuel usage and its debilitating repercussions on the climate and environment has compelled every responsible country to come out with strategies to push for clean and renewable energy. Several international forums deliberating on the climate changes brought about by the unscrupulous exploitation of fossil fuels on the environment have started taking traction in the desired manner. Of course, the onus squarely rests on the doorsteps of the developed countries whose carbon footprint levels are enormous contributing largely to the present environmental challenges facing humankind. More needs to be accomplished though.
PC: Martin Dorsman
- Against this backdrop, two recent developments on the matter have brought out India’s continued reliance on fossil fuels into sharp focus. Note that the Russia-Ukraine conflict is underway and the consequent surge in crude oil prices has roiled the economy further. Moreover, the most recent IPCC report on climate highlighted the energy sector’s large contribution to global warming in vivid detail. Both these developments need to be located in the context of India’s pledge to get to net-zero carbon emissions by 2070. Now, meeting this pledge requires an overhaul of both the logistics and electricity sectors to reduce reliance on fossil fuels.
- Remember, transitioning to renewables in energy is an important part of the solution. And within renewables, solar energy has been lavished with policy support though it won’t be enough to meet the targets. As is widely reported, India cannot meet its net-zero commitment without nuclear power. Looking back, it’s one area where India was off to an early start, developed relatively high indigenous capabilities in other sectors, but subsequently, let the ball drop. Today, nuclear power contributes a mere 3% of the total electricity generated having a capacity to produce 6780 MW.
PC: Nuveen
- Note that India’s main partner on the nuclear energy front today is none other than Russia even as the 2008 India-US civil nuclear deal could not progress beyond a point. Even though the deal did open the pathway to a stable supply of uranium ore from Kazakhstan and Canada, the design of the subsequent bill on civil liability for nuclear damage killed the prospect of participation of Western firms. You may be aware the Kudankumal nuclear plant, which supplies about 26% of the electricity from the source, operates in partnership with Russia. Understandably, the geopolitical situation makes it challenging in the days ahead to depend on just Russians.
- As widely reported, nuclear energy is cost-effective, avoids emission problems, and has an acceptable level of risk. Unlike solar energy, it doesn’t create challenges to grid stability. Moreover, recent progress on creating small modular reactors (up to 300 MW) makes the possibility of rapid scale-up feasible. As such, if nuclear energy’s true potential is to be exploited, India should begin by amending its nuclear liability legislation in a way that encourages investment by companies that are at the vanguard of small modular reactors, which promise to lower the chance of unsafe release of radioactivity. The further push should be diligently pursued.
