Green hydrogen: Why India is seeing it as a game changer
Green hydrogen: India is betting big on making a transition towards renewable energy and reducing dependence on fossil fuels, and one key factor in this is green hydrogen. According to the National Green Hydrogen Mission, by 2030 India hopes to develop green hydrogen production capacity of at least 5 MMT per annum. This will lead to renewable energy capacity addition of about 125 GW in the country and help India reduce carbon dioxide emissions to achieve its net-zero vision.So what is green hydrogen? How is it different from other hydrogen that is currently produced? And why is the use of green hydrogen being touted as a big game changer for India? In this weeks episode of TOI Business Bytes, Pranav Master Director, Consulting, CRISIL Market Intelligence & Analytics explains some interesting facts about Indias green hydrogen mission and its importance. Sample this; by 2030 India is envisaging an investment of Rs 8 lakh crore in green hydrogen projects! https://www.youtube.com/watch?v=U4jn6rn02vwWatch the video above to know how the production process of green hydrogen differs from other hydrogen forms and why the use of green hydrogen will help India meet its climate targets. Pranav Master talks about how India can be a big exporter of green hydrogen for the world economy.The video also dwells on the sectors that will see the maximum benefit from adoption of green hydrogen - from refineries and fertilisers to steel and transportation. According to the National Green Hydrogen Mission, Hydrogen can be utilized for long-duration storage of renewable energy, replacement of fossil fuels in industry, clean transportation, and potentially also for decentralized power generation, aviation, and marine transport.Pranav Master also talks about the employment opportunities for the common man and other takeaways that will lead to better lives for people with the use of green hydrogen. He stresses on the need for economies of scale so that production of green hydrogen is cost competitive over the long term.
Wednesday, May 17, 2023 at 2:35 am