Regan Brown
India has ample sunshine and wind, but coal, oil and gas are still its main sources of energy. Fossil fuels provide around 90% of the subcontinent's energy, with coal accounting for more than 70%. While India has the potential to be a renewable energy powerhouse, it will take time and political will to transition away from fossil fuels. The country's energy sector is heavily invested in fossil fuels, and coal is expected to remain an integral part of its energy mix for decades to come.
| Characteristics | Values |
|---|---|
| Current main source of energy | Coal, followed by oil and gas |
| Percentage of total energy demand provided by coal, oil and gas | 90% |
| Percentage of total energy demand provided by coal | More than 70% |
| India's predicted coal-based power generation capacity by 2040 | 330-441 GW |
| India's current coal-based power generation capacity | 192 GW |
| India's predicted fossil fuel share in 2040 | 78% |
| India's fossil fuel share in 2012 | 81% |
| India's predicted fossil fuel share reduction by 2040 | 3% |
| India's renewable energy prices | Low |
| India's fossil fuel prices | Stable |
| India's renewable energy prices | Dropping significantly |
| India's fossil fuel prices | Stable |
| India's renewable energy | Intermittent |
| India's fossil fuel technologies | Well-established and refined |
| India's investment in fossil fuels | Unlikely to decline |
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What You'll Learn
The cost of renewable energy in India
India has considerable supplies of oil and coal, which are needed to achieve energy security. Fossil fuel technologies are well established and have been refined over many decades, providing a continuous supply of energy at stable prices. Renewable energy, on the other hand, is intermittent and the prices are dropping significantly, creating a bubble. The latest draft of the National Energy Policy 2017 shows that coal will remain an integral part of India's energy needs for at least a few decades. It predicts that by 2040, coal-based power generation capacity may increase to 330-441 GW, with only a 3% reduction in the fossil fuel share in India's final energy mix. While the government is pursuing an ambitious renewable energy goal, progress on renewable electrification has been slow.
Renewable energy prices in India are currently at record lows, and the industry is generously subsidised, so it cannot be argued that it is cheaper than coal or other fossil fuels. In the case of solar energy, prices are unsustainably low, posing significant risks over the lifetime of the project. There have been cases where companies have quoted historic low prices during auctions, only to later pull out as the project became unviable.
Given the amount of money invested in gaining energy through fossil fuels and the importance of the energy sector, it is unlikely that the industry will go into decline anytime soon. India's main source of energy is still coal, followed by oil and gas, which together provide around 90% of the total energy demand of the subcontinent. While India has ample sunshine and wind, the optimism of a swift transition to green energy is premature and does not take into account the hidden costs and difficulties of transitioning from fossil fuels. Political will is required for the eventual shift from fossil fuels to renewable energy.
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The future of India's fossil fuel industry
India's fossil fuel industry is likely to remain strong for the foreseeable future. Despite the country's ample sunshine and wind, coal, oil and gas remain the subcontinent's main sources of energy, providing around 90% of the total energy demand of India, Pakistan and Bangladesh. Coal alone provides more than 70% of the subcontinent's energy.
Although the Indian government is pursuing an ambitious renewable energy goal, progress on renewable electrification is slow. The National Energy Policy 2017 predicts that coal-based power generation capacity may increase to 330-441 GW by 2040, up from 192 GW in 2017. Under the 'ambitious action' pathway, it estimates only a 3% reduction in the fossil fuel share in India's final energy mix by 2040.
The fossil fuel industry is well-established in India and has been refined over many decades. It provides a continuous supply of energy at stable prices, unlike the renewable sector, where energy is intermittent and prices are dropping significantly. India also has considerable supplies of oil, which are needed to achieve energy security.
However, some argue that India could become a world power in renewable energy. Economist and activist Jeremy Rifkin said in 2012 that India is the 'Saudi Arabia of renewable energy sources' and, with the right political will, could eventually shift from fossil fuels to renewable energy.
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India's natural resources
India has considerable natural resources, including oil, coal, wind and sunshine. However, despite the country's ample sunshine and wind, its main source of energy is still coal, followed by oil and gas. Together, these fossil fuels provide around 90% of the total energy demand of the subcontinent, with coal enjoying the highest share, at more than 70%.
In contrast, renewable energy sources in India only provide intermittent energy and prices are dropping significantly as the industry booms, creating a bubble. The low prices of renewable energy are a source of worry, as they are generously subsidised in India, so there is no fair basis for arguing that it is cheaper than coal or other fossil fuels.
Despite the challenges, there is optimism that India can transition to renewable energy and realise its place in the world as a great power. Economist and activist Jeremy Rifkin said in New Delhi in 2012 that India is the Saudi Arabia of renewable energy sources, but political will is required for the eventual shift from fossil fuels to renewable energy.
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The intermittency of renewable energy
India has ample sunshine and wind, but its main source of energy is still coal, followed by oil and gas. Together, they provide around 90% of the total energy demand of the subcontinent. India also has considerable supplies of oil, which are needed to achieve energy security. Fossil fuel technologies are well-established and have been refined over many decades, ensuring a continuous supply of energy at stable prices.
Renewable energy prices in India are currently low, but this is unsustainable and poses a significant risk over the lifetime of projects. There have been cases where low prices were quoted during auctions, but the project later became unviable. The renewable energy sector is also intermittent, with prices dropping significantly as companies race to gain a foothold in the booming industry.
The National Energy Policy 2017 predicts that coal will remain an integral part of India's energy needs for at least a few decades. It estimates that by 2040, coal-based power generation capacity may reach 330-441 GW, with only a 3% reduction in the fossil fuel share in India's final energy mix. While the government is pursuing an ambitious renewable energy goal, progress on renewable electrification remains dismal.
Despite the potential for a rapid transformation to renewable energy, India's main source of energy remains fossil fuels. The transition to renewable energy will require political will and a shift from the well-established fossil fuel industry.
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The political will required to transition to renewable energy
India has ample sunshine and wind, but its main source of energy is still coal, followed by oil and gas. Together, they provide around 90% of the total energy demand of the subcontinent. India also has considerable supplies of oil, which are needed in the country's endeavour to achieve energy security. Fossil fuel technologies are well-established and have undergone various degrees of refinement, ensuring they are able to provide a continuous supply of energy at stable prices. Renewable energy prices are currently low, but this is unsustainable and poses a significant risk over the lifetime of the project.
Given the amount of money invested in gaining energy through fossil fuels, it is unlikely that the industry will go into decline anytime soon. The latest draft of the National Energy Policy 2017 shows that coal will remain an integral part of India's energy needs for at least a few decades to come. It predicts that by 2040, coal-based power generation capacity may increase to 330-441 GW. Under the 'ambitious action' pathway, it estimates only a 3% reduction in the fossil fuel share in India's final energy mix.
The government is pursuing an ambitious renewable energy goal, but progress on renewable electrification continues to be dismal. To transition to renewable energy, political will is required to shift from fossil fuels. This includes cancelling long-term power purchase agreements with producers of conventional thermal energy and planned thermal capacity.
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Frequently asked questions
India has ample sunshine and wind, but coal, oil and gas are still the subcontinent's main sources of energy, providing around 90% of the total energy demand. The transition to renewable energy will be difficult and costly, and the government's progress on renewable electrification has been slow.
Fossil fuel technologies are well-established and have been refined over many decades, providing a continuous supply of energy at stable prices. Renewable energy, on the other hand, is intermittent and prices are dropping significantly, creating a bubble. India also has considerable supplies of oil, which it needs for energy security.
The government is pursuing an ambitious renewable energy goal, including cancelling long-term power purchase agreements with producers of conventional thermal energy. However, the latest draft of the National Energy Policy 2017 shows that coal will remain an integral part of India's energy needs for at least a few decades to come.
