As the UK shuts down its last coal power plant, experts say that coal will remain a key part of India’s energy plan for decades. India, still developing and with huge energy needs, cannot quickly transition away from coal like more developed nations.
While the UK has successfully eliminated coal from its energy mix, India saw its reliance on coal for electricity rise to 75% in 2023-24, up from 71% in 2019-20. This increase comes as coal use in Europe and the US has dropped. The International Energy Agency suggests that developed countries should phase out coal by 2030, while developing nations like India should aim for a 2040 target.
Experts acknowledge that India is making strides in renewable energy but emphasize that coal remains essential due to its reliability and cost-effectiveness. Harjeet Singh, a climate activist, highlights the need for support from the international community to help India transition away from coal, not just for climate reasons but also for social justice and environmental protection.
Montek Singh Ahluwalia, a former government official, pointed out that India can’t eliminate coal overnight and that Western countries should consider their own fossil fuel use instead of focusing only on coal. He believes India needs time to balance its emissions, which will eventually peak and then decline.
Sunita Narain, from the Centre for Science and Environment, echoed this sentiment, arguing for a cleaner future for coal rather than a complete phase-out. She emphasized the importance of investing in cleaner technologies to reduce local air pollution and carbon emissions.
India’s Environment Minister Bhupender Yadav reinforced that coal is still vital for meeting the country’s energy demands until it reaches developed nation status. He stated that India cannot rely solely on imported oil and gas for its energy needs.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.