: India’s 450GW renewable energy goal by 2030 doable: John Kerry #finance #StockMarketNEWS #Business PTI New Delhi US Special Presidential Envoy for Climate John Kerry on Wednesday said India’s

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India’s 450GW renewable energy goal by 2030 doable: John Kerry #finance #StockMarketNEWS #Business
PTI



New Delhi



US Special Presidential Envoy for Climate John Kerry on Wednesday said India’s goal of reaching 450 GW of renewable energy (RE) by 2030 is doable as it has already crossed the 100 GW RE mark.  



“It is really terrific to see India leading the ISA (International Solar Alliance). India is a close partner and the United States strongly supports India’s goal of reaching 450 GW of renewable energy by 2030.



“We believe that it’s absolutely doable and will be done. India has already set an example for emerging economies by reaching 100GW of renewables,â€? Kerry said while addressing a session of ISA general assembly.   He further said, “What India has demonstrated with its low-cost solar auctions and build out of the transmission grids and massive solar parts program and other innovative policy tools can be replicated all over the world. â€? Noting that solar energy is at the heart of the urgent climate action, he urged nations to take dramatic action to keep the 1. 5-degree Celsius temperature rise and mid-century net zero emissions targets within reach.



He added that President Joe Biden recognizes the clean energy opportunity of solar in the US’ efforts to achieve the newly proposed NDC (nationally-determined contribution) of 50-52 per cent reduction in US economy wide greenhouse gas emissions by 2030.   Kerry said “the US department of energy recently published a roadmap for how solar energy could economically generate 40 per cent of the country’s electricity supply by 2035. With 1000 GW of installed solar energy, solar would play the biggest role in a completely carbon free electric power sector by 2035. â€?



Delivering the keynote address at the inaugural ceremony of the ISA general assembly where 106 countries are participating in the discussions, Kerry applauded ISA and the leadership of India, France and member countries of the ISA assembly in their collaboration to advance the global clean energy transition.



He added that ISA is critical to reducing greenhouse gas emissions and has an opportunity to accelerate solar’s growth with member countries blessed with the world’s strongest sunlight.



Speaking on India-US ties and calling India, “a red-hot investment destination for solar power,� Secretary Kerry shared that, leading countries deploying solar power from India to the US are seeing the need for energy storage to balance the intermittency of renewable energy.



Harnessing the full value of solar energy will require countries to invest in storage, grid infrastructure and in flexibility in both demand and supply. And to connect solar power with parts of the economy that do not currently use electricity, countries must invest in electric vehicles and clean fuels like hydrogen that can be produced using solar power, he said.

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