Context: Few entries in the energy and climate calendar for 2021 give a reason for optimism this year, even though the shadow of Covid-19 continues to loom.
Factors signifying 2021 as a Good Climate Year:
Positive attitude of United States(US): with the possibility of the US re-joining the Paris Agreement.
Multiple measures for the renewables sector in the US: including tax credits for offshore wind, grants for charging infrastructure for electric vehicles and funding for research and development.
Possible boom of electric cars: BloombergNEF has estimated that electric passenger cars sold by all manufacturers globally over 2020 totalled more than 2.7 million.
Tesla delivered about 500,000 electric cars in 2020 (36 % higher than its 367,500 units in 2019). And will be sold in India in 2021.
Boosting solar energy: economics are making low-carbon transitions inevitable.
Low tariffs: dipping down to Rs 1.99 due to intense competition, expectations of further declines in solar panel prices and availability of cheap capital.
Coal India branching out to solarmanufacturing: including ingots, wafers, cells and modules, solar generation and aluminum mining, refining and smelting.
Other state-owned companies, such as NLC India (formerly Neyveli Lignite) and a hydro company SJVN, are also expanding their footprint in the renewables space.
Provision of rooftop solar rights to the consumers in India: to have 24x7 electricity supply. Net metering is to be provided for loads of up to 10 kilowatts, and gross metering for higher loads.
Upcoming Conference of Parties (COP) -26 at Glasgow: will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
Many countries are already choosing to stimulate their economies through green measures in energy, mobility as well as in heating and cooling.