In Next 20-30 Yrs, AC Demands In India Will Be More Than The Entire Power Consumption In Europe Right Now
UNIPCC studies reports on climate change says planet may change with another 2-degree Celsius of warming. We need to prevent more than 2-degree temperature globally. The damage will occur with the change of more than 60GT of carbon emission in the atmosphere, said Sumant Sinha,CEO ReNew Power.The need for the best solution to combat the factors like climate change, pollution transition, no carbon in atmosphere brings a fundamental impact on the energy sources.History of energy generation what we need to do going forward. Best solutions to combat climate change is electricity growth in future.
The investment will lead to huge amounts of job creation, industries countries become leaders and fundamentally require to replace a legacy system that is coal-based ecosystem fundamentally legacy system we have right now. Energy transition 10-20 yrs more technology changes greener cleaner source of electricity will be cost-effective technology cost standpoint everything new energy ecosystem trillion dollars of investments.
The author Sumant Sinha on his book Fossil Free talks about transition does happen in months and years slowly but in a decade rapidly. Later after 20-30 years, battery storage is more or less replace the coal-based legacy system with more generating power itself more distribution how power is generated. The energy transition crosses the Laxman Rekha for temperature rise in sea level with an increase in more of carbon emission into the atmosphere.To fight with global warming, we need an investment capital of $1 to 1.2 trillion every year. Changing in technology is evolved with more electrification transportation. For example, the UK has mandate electronic vehicles ecosystem by 2030, batteries storing clean energy or utility skin storage and more, he added.
Battery packs and use it when you need to use solar packs on the rooftop. The two areas-Reducing carbon emission and energy consumption how can we have clean sources, he said.Fossil free source energy transition both in individuals and corporate investors new emerging opportunity and governments role to making this happen. This will lead to new technology, regulatory capital flows, job creations, entrepreneur opportunities where the government needs to play an important role in environmentally sustainable governance.
