India's Green Hydrogen Revolution: Cost Reductions and Ambitious Targets
Key Ideas
- India's green hydrogen costs to potentially drop by up to 40%, supported by government incentives and policies.
- The Green Hydrogen Mission aims for 5 million tonnes of annual production by 2030, with Rs 19,744 crore allocated for the initiative.
- Report suggests the need for refinements in the scheme to attract investments, promote long-term viability, and create a robust supply chain.
- India's commitment to green energy aligns with global efforts for climate mitigation, as showcased by its ambitious targets and initiatives.
A recent report indicates that India's green hydrogen costs are set to decrease by up to 40% with government support and incentives, potentially reaching Rs 260-310 per kg. The country's Green Hydrogen Mission, launched in 2023 with a substantial outlay, aims to achieve 5 million tonnes of annual production by 2030. The levelised cost of green hydrogen is expected to drop, making it more competitive at Rs 260-310 per kg. India is facilitating this by providing cheap renewable electricity, waiving certain charges, and reducing taxes for hydrogen production. However, the report highlights the need for refinements in the scheme to ensure long-term investment, attract startups, and create a sustainable supply chain. The industry has shown enthusiasm, but adjustments are needed for broader success. India's commitment to green hydrogen aligns with its broader goals for reducing emissions and transitioning to renewable energy sources. The country's initiatives are not only nationally important but also contribute to global efforts for climate change mitigation. The Green Hydrogen Mission in India presents significant potential for various sectors, including agriculture, transport, and manufacturing, with the aim of fostering a sustainable and competitive green hydrogen industry.
Topics
Policy
Green Hydrogen
Renewable Energy
Climate Change
Innovation
Energy Transition
Economics
Government Support
Industry
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