- As we are aware, the clamour for alternative energy utilization has been in the limelight in the last few decades. Moreso, in the last couple of decades, the global warming-induced weather vagaries and environmental degradation have caused havoc around the world in varied forms. Irregular weather patterns afflicting the global community have become a norm rather than an exception, with the related occurrences occurring quite regularly and alarmingly. To address this growing concern, the whole world not only acknowledged by pledging to commit themselves to reducing the carbon footprints in a significant manner but also undertaking serious research and development to unearth alternatives to greenhouse gas emissions. Have we succeeded?
PC: Mint
- Whereas the top energy-guzzling countries have pledged to embrace alternative energy sources by investing huge amounts of money, the other countries, like India, have made earnest attempts at contributing to the worthy cause, but are nowhere near achieving what is envisaged. To mitigate the global challenge. Our dependence on importing petroleum products makes us vulnerable to external shocks like the ongoing conflicts in the Middle East/West Asia. This being the case, India can’t protect itself better from a future oil shock unless the commercial vehicle fleet is electrified.Yet another Gulf war should electrify the speed and scale at which India cuts back on its dependence on imported oil and gas amid various impediments.
PC: LinkedIn
- The new world order of uncertainty and turbulence is subject to far too many moving parts, from sanctions to tariffs to bombs. The move away is no longer a climate goal alone, but a matter of energy security too. One sector that can decarbonize at the earliest is transport. Goals on electrification of transport are serious. India targets EV sales shares of 30% in private cars, 70% in commercial vehicles, 40% in buses, and 80% in two and three-wheelers by 2030. But uneven policy and funding frameworks make for a bumpy road. IEEFA estimates that Rs.2.2L cr was invested between 2020 and 2025 in the electric vehicle ecosystem (OEMs, subsidies, and incentives), and spending on public charging infra was barely 18% of the Rs.12.5L cr needed to meet the 2030 goal.
PC: Logistics Insider
- However, where the remaining Rs.10L cr will come from is iffy. Moreover, while electric 3-wheelers attracted the largest share of investments (around 78%), IEEFA recorded a shift in investment toward electric four-wheelers – luxury electric cars. There is little for public transport, and no incentives for long-haul commercial EVs or fleet electrification. Nonetheless, as has been repeatedly noted, govt subsidies are not the problem. Implementation bottlenecks are. Worryingly, there seems to be little policy thinking on this. If oil price shocks are to be absorbed, a move to electrified transport, especially at fleet-level commercial vehicles and heavy trucks, must be a priority. The authorities should fast forward this imperative requirement soon.
