Bill likely to enable use of clean energy

Indian authorities plan to introduce amendments to the Energy Conservation Act within the Parliament’s monsoon session to put in place enabling provisions to make the use of clean energy, together with inexperienced hydrogen, necessary and to institute a regulatory framework for carbon buying and selling.

Once the Parliament approves the Energy Conservation (Amendment) Bill, 2022, the Union authorities plans to concern administrative orders to implement it.

The invoice seeks to present a regulatory framework for carbon buying and selling in India, encouraging renewables consumption and successfully implementing and implementing the Energy Conservation Act.

These enabling provisions are anticipated to assist India meet its local weather objectives, with Prime Minister Narendra Modi pledging on the COP26 summit to lower India’s whole projected carbon emission by 1 billion tonnes and obtain net-zero carbon emissions by 2070.

With the government promoting emission-free green hydrogen, several Indian companies, including Reliance Industries, Adani Group, ACME Group and Greenko Group, have shown interest in the space.

Green hydrogen, produced by splitting water into hydrogen and oxygen using electrolyzers, can be a game-changer for the country’s energy security.

India imports 85% of its oil and 53% of its gas requirements. The electrolyzers are powered by energy from renewable sources such as wind and solar.