Daily Current Affairs : 17-January-2024
The World Economic Forum, in collaboration with Bain & Company, recently released a report emphasizing the need to reduce the production cost of Green Hydrogen to less than or equal to USD 2 per kg. This is a crucial development for India as it charts its course towards a sustainable energy future.
Key Highlights of the Report on India’s Energy Landscape and Green Hydrogen Mission:
- India’s Energy Landscape:
- Ranks as the third-largest global economy in terms of energy requirements.
- Energy demand projected to surge by 35% by 2030.
- 2022 saw India’s energy import bill reach USD 185 billion.
- Commitment to Net Zero and COP26:
- India pledged Net Zero by 2070 at COP26 in 2021.
- Green Hydrogen identified as crucial for meeting energy security needs and reducing emissions in hard-to-abate sectors.
- National Green Hydrogen Mission (NGHM):
- Launched in 2022 with approximately USD 2.3 billion in incentive funding (2022-2030).
- Aims to boost green hydrogen production and consumption.
- Current Hydrogen Production Scenario:
- India presently produces 6.5 MMTPA of hydrogen.
- Majority is Gray Hydrogen, contributing to CO2 emissions.
Renewable Energy Potential and Capacity Expansion:
- Green Hydrogen Production:
- Requires a substantial supply of renewable energy for electrolysis.
- India’s renewable energy potential can support growth, but rapid capacity addition is necessary.
- Limited Traction and Anticipated Growth:
- Limited on-the-ground traction, with significant production expected post-2027.
- Constraints on both supply and demand sides.
What is Green Hydrogen?
- A colorless, odourless, tasteless, non-toxic, and highly combustible gaseous substance.
- ‘Green’ hydrogen is produced through electrolysis using renewable sources such as solar, wind, or hydel power.
Green Hydrogen Importance:
- Hydrogen used across the globe; green hydrogen can be the “fuel of the future.”
- Applications in electricity and drinking water generation, energy storage, transportation, and even space stations.
India’s Initiatives to Promote Green Hydrogen:
- National Green Hydrogen Mission:
- Aims to produce 5 million metric tonnes of green hydrogen annually by 2030.
- Financial incentives to support domestic production and technological advancements.
- Green Hydrogen Consumption Obligations:
- Proposed by the Ministry of New and Renewable Energy.
- Similar to renewable purchase obligations, it applies to fertilizer and petroleum refining sectors to drive adoption across key sectors.
Important Points:
- India’s Energy Landscape:
- Ranks third globally in energy requirements.
- Anticipates a 35% surge in energy demand by 2030.
- Faced a substantial energy import bill of USD 185 billion in 2022.
- Net Zero Commitment and COP26:
- India pledged Net Zero by 2070 at COP26 in 2021.
- Recognizes Green Hydrogen’s role in enhancing energy security and reducing emissions.
- National Green Hydrogen Mission (NGHM):
- Launched in 2022 with USD 2.3 billion in funding (2022-2030).
- Aims to boost green hydrogen production and consumption.
- Current Hydrogen Production Scenario:
- India produces 6.5 MMTPA of hydrogen.
- Majority is Gray Hydrogen, contributing to CO2 emissions.
- Renewable Energy Potential and Capacity Expansion:
- Green Hydrogen production requires a substantial supply of renewable energy.
- Rapid capacity addition necessary for both green hydrogen and overall electricity needs.
- Anticipated Growth and Constraints:
- Limited on-the-ground traction for green hydrogen.
- Significant production expected post-2027, facing constraints on both supply and demand sides.
- What is Green Hydrogen?
- Colorless, odourless, tasteless, non-toxic gaseous substance.
- ‘Green’ hydrogen produced through electrolysis using renewable sources.
- Importance of Green Hydrogen:
- Globally used in countries like the United States, Russia, China, France, and Germany.
- Applications include electricity and drinking water generation, energy storage, transportation, and space stations.
- India’s Initiatives:
- National Green Hydrogen Mission:
- Aims for 5 million metric tonnes of green hydrogen annually by 2030.
- Offers financial incentives for domestic production and technological advancements.
- Green Hydrogen Consumption Obligations:
- Proposed obligations for fertilizer and petroleum refining sectors to drive adoption.
- National Green Hydrogen Mission:
Why In News
Recently, the World Economic Forum, in collaboration with Bain & Company, released a report titled “Green Hydrogen: Enabling Measures Roadmap for Adoption in India,” emphasizing the imperative need to reduce the production cost of Green Hydrogen to less than or equal to USD 2 per kg in order to promote sustainable energy solutions and drive widespread adoption.
MCQs about Green Hydrogen
-
What is the primary focus of the National Green Hydrogen Mission (NGHM)?
A. Reducing energy import bills
B. Boosting green hydrogen production and consumption
C. Achieving Net Zero by 2030
D. Enhancing gray hydrogen production
-
What is the primary reason behind the limited on-the-ground traction for green hydrogen in India?
A. High production costs
B. Lack of government incentives
C. Limited renewable energy potential
D. Overwhelming demand
-
What distinguishes ‘green’ hydrogen from other types, such as ‘gray’ and ‘blue’ hydrogen?
A. Odorless and tasteless
B. Produced through electrolysis with renewable energy sources
C. Heavy transport applications
D. Majority produced for crude-oil refineries
-
What role do consumption obligations play in India’s green hydrogen initiatives?
A. Encouraging water generation in space stations
B. Applying pressure on sectors to incorporate green hydrogen
C. Reducing the energy import bill
D. Boosting gray hydrogen production
Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions
