It is critical for India to harness the energy from hydrogen to attain the sustainable development goals effectively. Examine (200 Words)
Refer - Financial Express
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IAS Parliament 5 years
KEYPOINTS
Hydrogen is uniquely clean. Fertilisers, oil-refining, heavy industry like steel and heavy-duty transport are some examples of hard sectors that likely will need hydrogen to decarbonise.
Why now?
· With India’s success in reducing the solar prices to as low as Rs 1.99/KWh (2.7 cents), green hydrogen can become competitive in the medium term.
· In addition, India’s ambitious target of 450 GW renewable energy will face challenges brought by a global pandemic and issues in the discom sector discoms are experiencing price pressure to reduce their costs.
· The FY22 Union Budget announced the government’s intention to launch a hydrogen mission, which is as futuristic as it is historic.
Essential actions
· To become a global hub for green hydrogen, India should identify high-demand sectors like green ammonia, oil-refining,.
· India should strive to reduce renewable power tariffs for hydrogen production.
· India should pioneer voluntary purchase mechanisms for green hydrogen embedded products such as green steel or green fertilisers similar to RE100 initiatives.
· India should strive to incentivise the giga-scale production of green hydrogen components, like electrolysers,.
· India should identify hydrogen production clusters closer to the renewable parks to utilise near-zero cost.
Dev 5 years
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IAS Parliament 5 years
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Priya Verma 5 years
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IAS Parliament 5 years
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