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Designated consumers may be required to meet a proportion of their energy needs from non-fossil sources like green ammonia, biomass, and ethanol for energy and feedstock, according to Indian media reports.
India’s Rajya Sabha has approved the Energy Conservation (Amendment) Bill that is aimed at encouraging use of green hydrogen and renewable energy. The act also gives the authority to Indian government to designate a carbon credit trading system. The bill has provisions to develop clauses to include industrial units for specific energy consumption standards.
Carbon credit implies a tradeable permit to emit a specified amount of carbon dioxide or other greenhouse emissions.
About 36 members of Rajya Sabha participated in the discussion on the Energy Conservation Bill.
“The passage of Energy Conservation (Amendment) Bill, 2022, in Rajya Sabha today paves the way to enhanced use of renewable energy,” tweeted power and renewable energy minister R K Singh.
India had committed to achieving 40 per cent of its installed electricity capacity from non-fossil energy sources by 2030, and the country achieved this target in November 2021, nine years ahead of the set target, Singh informed the parliament in a session.
India’s target is to be a leading country in green hydrogen and achieve over 50 per cent of its power generation capacity from non-fossil fuels by 2030.
Fibre2Fashion News Desk (DP)
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