Facing the coal-choked skies of Mumbai’s eastern waterfront stands the aging Trombay power plant, a stark reminder of India’s deep-rooted dependence on polluting energy sources. Despite significant investments in solar and wind farms by corporate giants like Adani Group and Tata Sons, the country’s appetite for electricity surpasses what green sources can supply. As a result, India, the world’s third-largest carbon emitter, relies on coal for over 70% of its electricity generation, perpetuating environmental harm in the face of climate change.
1.The Dilemma of Energy Transition
Investing in both carbon-heavy businesses and renewable sectors, India strives to transition its energy landscape while maintaining economic growth. Although solar and wind energy have emerged as the cheapest forms of electricity in recent years, coal consumption in India reached record levels in 2024, posing a significant challenge to the nation’s green aspirations. The push to make renewables account for half of the energy mix by 2030 clashes with the reality of increased coal usage, hindering progress towards sustainable energy practices.
2.Overcoming Financial Barriers
With ambitious goals for renewable energy generation, India faces a financial gap of up to $215 billion over the next seven years to meet its targets. The country must install around 44 gigawatts of green energy annually to achieve its goal of 500GW of renewable energy capacity. While progress has been commendable, experts warn that India’s investment falls short of what is necessary to meet its decarbonization objectives in the medium term.
3.Socioeconomic Challenges and Climate Realities
India’s transition to green energy faces obstacles beyond financial constraints. The high cost and limited infrastructure of electric vehicles pose challenges to reducing emissions from the transportation sector. Additionally, the country grapples with an employment crisis and significant emissions from agriculture, further complicating the path towards decarbonization. Ensuring that the journey towards cleaner energy sources does not come at the expense of economic stability and job creation remains a pressing concern for policymakers and experts alike.
As India navigates the complex terrain of energy transition and environmental responsibility, balancing economic growth and sustainable practices is paramount. The stark realities of climate change and rising emissions highlight the urgency of transitioning towards cleaner energy sources. By addressing financial, social, and environmental challenges, India can pave the way for a more sustainable and resilient future. It is imperative that policymakers, businesses, and citizens collaborate to drive meaningful change and ensure a greener tomorrow for generations to come.
