India is one of the countries with the highest level of energy consumption. Energy transformation in India will undergo massive changes in policies and frameworks from 2024- 2030. With the expanding urbanization, India will benefit economically if it adopts green energy over other fossil fuels for energy generation.

India is investing highly in renewable sources such as solar and wind power. India aims to reduce emissions, enhance public health, and achieve long-term economic growth through a clean and green energy framework. India has set many targets to be completed by the year 2030. The Central Electricity Authority (CEA) has set a target, aiming for half of the nation's electricity to be from clean energy sources by 2030.

Policy Reforms and Regulatory Framework

Paris Agreement adopted in 2015 in December to address challenges of climate change -India stated its commitment to address climate change by pledging to share non-fossil fuels to be 40 percent of total manufacturing capacity by 2030, Total emission as a percentage of GDP to be reduced by 33-35 percent by 2030. Also, Forests will be created in response to high levels of CO2 emissions. This commitment can be achieved with the adoption of greener energy. India's targets in the Paris Agreement initiate Investor-friendly policies that attract both domestic and international capital in the green energy sector.

The national action plan for climate change targets 80 percent of energy production from non-fossil fuels by the year 2030. NAPCC describes eight missions that deal with climate change adaptation and mitigation such as the National Solar Mission which will promote harnessing energy using renewable energy which does not harm the environment. The ministry provides financial assistance for the promotion of solar energy in many solar parks and mega projects Central Financial Assistance (CFA) of Rs 25 lakh per solar park, Rs 3 crore/MW or 30 percent of the project cost, whichever is lower, for the canal-top SPV projects and Rs 1.5 crore/MW or 30 percent of the project cost, whichever is lower, for canal-bank.

The government of India has taken several initiatives to promote solar energy. Programs like the rooftop solar initiative and large-scale solar projects for the generation and transmission of solar power. Policy to waive Inter-State Transmission System (ISTS) charges for solar and wind power projects until June 2025, 102 percent increase in allocation for green hydrogen along with a Target of generating 500 GW of green energy by 2030. Future policies for green energy initiatives are mainly introduced in the budget 2024-2025.

The PM of India on 75th Independence Day launched NHM to make India a giant hub for the manufacturing of hydrogen (especially green hydrogen. It involves supporting manufacturing through incentives and facilitative policies and putting in place a framework for standards and regulation of hydrogen technologies. The NHM aims to make India a global hub for manufacturing hydrogen.

India's Union Cabinet approved the National Green Hydrogen Mission ("Mission") in 2023 with an outlay of Rs. 19,800 crores. The Mission comprises multiple components such as the Strategic Interventions for Green Hydrogen Transition Programme ("SIGHT"), and pilot projects in key end-use sectors like shipping, steel, energy storage, and others. The goal of the Mission is to increase private sector investment, reduce the cost of production, development of technology in energy, and set up green hydrogen standards.

MNRE has issued rules for the implementation of the SIGHT Programme to maximize the production of Green Hydrogen and its derivatives in India. The objective is to Enhance the cost-competitiveness of Green Hydrogen and fossil-based alternatives and encourage large-scale utilization of Green Hydrogen and its derivatives. Solar Energy Corporation of India (SECI) shall be the implementing agency for the implementation of this scheme. The capacity available for bidding is 450,000 MT per annum of Green Hydrogen.

The power ministry released a 'Green Hydrogen Policy.' This policy offers various incentives to support the production of green hydrogen such as having only one portal for statutory clearances and other activities in a specific time-bound manner, permitting manufacturers to bank surplus unconsumed power for a period of up to 30 days. Manufacturers are allowed to set up bunkers near ports for storage of power. The green hydrogen policy aims to the production target of 5 million tonnes per year of green hydrogen by 2030.

Budget 2024-2025 plans to Boost green energy transmission (2024-2030)

• Budget removed custom duty on solar glass and tinned copper interconnects to strengthen domestic solar manufacturing.
• The funding for the national green hydrogen mission increased to Rs. 600 crores from Rs. 100 crores for the year 2024-2025.
• To support the scheme PM KUSUM and the green energy corridor ministry, the new Ministry of New and Renewable Energy (MNRE) has received ₹19,100 crores.
• In the budget, the government announced PM Surya Ghar Muft Bijli Yojana, which aims to install rooftop solar plants in 1 crore households, providing free electricity up to 300 units per month. This scheme was filled with over 1.28 crore registrations.
• Financial gains for a household from this could be between ₹15,000 to ₹18,000 crore annually from free solar electricity consumption and surplus power sales.
• Allocation of INR 96 crore was allocated for BESS in 2024-25, which is a new policy to leverage India's 103 GW potential energy.
• To support green hydrogen production and the Indian energy mix, partnership with various private sector enterprises is encouraged.
• Budget 2024-25 aims to increase domestic production, safeguard international resources, and advance the recycling of essential minerals for green energy technologies.
• Training will be provided to 100,000 workers for solar panel installation and aims to build a workforce in this sector to around 600,000 people over the next six years to boost its ₹20,000 crore national hydrogen mission.
• The Union Ministry of New and Renewable Energy (MNRE) has seen its budget rise from ₹10,222 crore to ₹12,850 crore.
• The budget for the grid-based solar power scheme for 2024-25 has risen to ₹10,000 crore, significantly up from ₹4,757 crore in 2023-24.
• The Interim Budget of 2024-25 granted ₹600 crore for the National Green Hydrogen Mission, compared to the previous year's allocation of just ₹297 crore.
• Climate finance taxonomy will facilitate preferential financing for green projects.
• INR 930 crore allocated, which includes viability gap funding for 1 GW of offshore wind projects.

Technological Advancements and Innovation

• The government of India has allowed 100 percent FDI under automatic routes for renewable energy projects in India, allowing foreign companies to invest directly in the green energy sector.
• Pradhan Mantri Sahaj Bijli Har Ghar Yojana was launched in 2017 to provide electrification to all households in India. This scheme has accomplished electrification in rural and backward areas of society.
• The Green Energy Corridor has started functioning in states such as Maharashtra, Madhya Pradesh, Tamil Nadu, Rajasthan, Gujarat, Andhra Pradesh, Karnataka, and Himachal Pradesh. It aims for the target of 450 GW installed RE capacity by 2030, with the objective to evacuate approx. 20,000 MW of renewable power and improve the grid in implementing states.
• Virtual Smart Grid Knowledge Centre (Virtual SGKC) and Innovation Park will monitor, quantify, and control power flows in real-time, contributing to the identification of losses and enabling appropriate measures to arrest them.
• The Indian Solar Alliance, comprising more than 120 member countries, aims to ensure energy security and transition for its member countries. It is a joint effort of India and France to mobilize against the insecurity of climate change, headquartered in Gurugram. Its main objective is to generate cost-minimal and efficient energy solutions. ISA targets installing 100 GW grid-connected solar power plants by the year 2022, leveraging India's geographical advantages for efficient solar power generation.
• In the budget, the government announced PM Surya Ghar Muft Bijli Yojana, which aims to install rooftop solar plants in 1 crore households, providing free electricity up to 300 units per month. This scheme was filled with over 1.28 crore registrations.

Decentralized Energy Systems

Decentralized green energy in remote and backward locations will be highly beneficial for people living in these locations. Systems such as rooftop solar, and renewable projects provide employment opportunities, empower local communities, support economic activities, and Tax benefits. Rural and backward communities get opportunities to produce green energy which also reduces transmission loss.

The government should incentivize and support the involvement of backward and marginalized people in energy generation. It will create jobs in rural areas and the transmission of energy between public and private sectors.

Public-private Partnership

The partnership of public and private entities in any project increases the chances of project completion within time with low resources, low cost, timely completion, and highly transparent. In green energy infrastructure government is expanding its partnership. India and Bhutan both the country have agreed to join hands in the development of new energy projects in the fields of solar and green hydrogen they initiated the 720 MW Mangdechhu Hydro-electric Project Energy cooperation and the 1020 MW Punatsangchhu-II Hydro-electric Project. Energy conservation through information exchange on policies exchange and efficient energy technologies. Recently tata also formed a partnership with Bhutan to develop a 600 MW hydropower project in Bhutan it will cost around Rs 6,900 crore. This project will increase electric contribute to India's energy transition to renewables. Tata Power will be investing 40%

Financial mechanism and investment mobilization
Introducing new projects or scaling existing green energy projects in India requires huge investment. Investment in climate changes, green bonds, and high-level energy projects. India needs an annual investment of $120bn-140b to meet its 2030 renewable energy targets. FDI of INR 15,000 crore to INR 20,000 crore is required for the funding of only the renewable energy sector. Bonds and loans for low emission and research and development (R&D) should clearly define their role in development. Various states of India have subsidies for solar adoption in their house but it has been difficult to avail these subsidies capital to resolve this issue Ministry of New and Renewable Energy (MNRE) has developed a portal that will allow households to register and apply for subsidies. SBI's Suryashakti cell in collaboration with Tata Power is one such example. Tata Power in partnership with SBI's Suryashakti cell introduced a model where house can lease their rooftops without providing the upfront capital to developers.

Environment and social sustainability
While a strong focus on green energy is crucial government should also address its disruptions. The functioning of green energy projects causes a loss of biodiversity and inadequate compensation to the workers. Setting up of power plant requires huge initial capital which is one of the major drawbacks. Investors have to arrange funds by themselves government should provide subsidies, and reduce taxes to lessen the burden it should also support by providing funds and forming partnerships with private players. Generation of green energy is challenging due to the availability of limited space green energy plants require huge land for power generation. Renewable energy sources have geographic limitations However, India has the capabilities to lead the world in solar power generation, which will be less costly than any other existing coal-fired power by 2030.

Partnership with international organizations plays an imperative role in forming policies, rules, and guidelines. Partnership saves cost expenditure on projects, efficient accomplishment of projects, technological advancements and innovation in solar energy, Saves time, and other benefits as well. The US has partnered with India for clean energy and a green environment. India follows European Commission guidelines for green energy promotion European Commission mainly advocates for climate change it promotes the generation of green energy.

Conclusion
India's green Energy transition from 2024-2030 will be a crucial period for sustainable development. The Indian government through advancements in technology, integrating policy reforms, financial support, and international partnership is creating a model that balances the security of supply with environmental responsibilities.

The transition will be through encouraging innovation, endorsing a decentralized energy system, and promoting private investments. The partnership of public and private entities fosters the development of projects efficiently.

Focusing on the development of skills of the workforce helps in job creation within the country and reduces dependence on foreign countries for imports of services and goods. However, the alteration to clean energy must focus on safeguarding the environment and stability in society making sure that projects are environmentally friendly.

India's energy transition mission is a complete plan for an eco-friendly, zero waste, and carbon-neutral future with support from all relevant parties, India can easily adapt green energy revolution and position itself as a global leader in green energy transition.

Award Winning Article Is Written By: Mr.Raghav Agarwal

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