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REFERENCE NEWS
India’s dependency on imports for critical minerals such as lithium, cobalt, and nickel poses a significant risk to its green technology transition and energy security, as highlighted in a recent report by rating agency ICRA.
The report indicates that despite efforts to boost domestic production through auctions, the commercialisation of exploration blocks may not yield tangible benefits until after 2030. This delay could leave India's downstream manufacturing vulnerable to potential supply disruptions in the interim.
ABOUT GREEN TECHNOLOGY
Green Technology involves the creation and implementation of products, systems, and frameworks designed to protect the natural environment and its properties by mitigating and reducing the negative impacts of human activities. Green technologies broadly encompass innovations focused on environmental enhancement and resource efficiency.
Cleantech vs. Greentech: Cleantech focuses on improving the environmental performance of existing technologies, while Greentech promotes the adoption of new, sustainable solutions and the use of renewable resources.
KEY AREAS OF GREEN TECHNOLOGY ADOPTION:
Renewable Energy: Green technology is being adopted in sectors such as solar, wind, hydroelectric, geothermal, and biomass energy. These renewable energy sources provide alternatives to fossil fuels, reduce greenhouse gas emissions, and lessen dependence on finite resources.
Energy Efficiency: This includes advancements in insulation, LED lighting, smart thermostats, and energy-efficient appliances to reduce energy consumption.
Green Building: Technologies promoting sustainable design, construction, and operation of buildings involve the use of energy-efficient materials, passive design strategies, green roofs, and efficient HVAC systems to minimize environmental impact and enhance occupant comfort.
Sustainable Transportation: Green technologies in this field include electric vehicles (EVs), hybrid vehicles, public transit systems, cycling infrastructure, and alternative fuels.
Agroecology and Sustainable Agriculture: Sustainable agricultural practices promoted by green technology include organic farming, precision agriculture, agroforestry, and soil conservation techniques to minimize environmental impact and enhance productivity.
Water Conservation and Treatment: Green technologies adopted in this area include low-flow fixtures, rainwater harvesting systems, wastewater treatment technologies, and desalination.
SIGNIFICANCE OF GREEN TECHNOLOGY
Environmental Benefits: Green technologies significantly reduce carbon emissions, contributing to the fight against climate change and environmental degradation. For instance, these technologies help assess environmental quality, track pollution levels, and make informed decisions regarding resource management and conservation.
Economic Benefits: Green technologies open new markets and create jobs. They foster business innovation, enabling companies to develop new products and services that meet the growing consumer demand for sustainability. For example, they create new jobs in the circular economy.
Social Benefits: Green technologies improve the quality of life by providing clean air and water, reducing the risk of environmental health problems, and promoting a healthier environment. For example, they help mitigate the negative effects of climate change on human life.
Reduced Externalities: Green energy technologies, such as solar panels, hydropower, and wind turbines, have significantly reduced negative externalities like GHG emissions.
CHALLENGES IN THE ADOPTION OF GREEN TECHNOLOGIES
High Upfront Initial Costs: Many green technologies, such as renewable energy systems and energy-efficient appliances, have higher upfront costs compared to conventional alternatives. For example, 50% of the project costs for each megawatt of solar PV power plant installation in India result in a significant outflow of foreign exchange.
Limited Access to Capital: Green technology entrepreneurs face difficulties in securing financing and capital for their projects. Banks and financial institutions are often hesitant to provide loans for innovative and perceived high-risk projects.
Technological Barriers: Some green technologies are in the early stages of development and encounter technological limitations. For instance, renewable energy sources may produce energy intermittently, and electric vehicles may face challenges with energy storage capacity.
Infrastructural Limitations: Inadequate infrastructure, such as the lack of charging stations for electric vehicles or insufficient grid interconnections for renewable energy systems, often restricts the scalability and adoption of these technologies.
Regulatory and Policy Constraints: Inadequate and uncertain regulatory requirements and compliance issues frequently deter investment and innovation in the green technology sector.
Lack of Public Awareness and Education: Limited awareness and understanding of green technologies among the general public, businesses, and policymakers have hindered their adoption.
GOVERNMENT SCHEMES PROMOTING GREEN TECHNOLOGIES IN INDIA
National Green Hydrogen Mission: This mission aims to adopt Green Hydrogen, significantly decarbonizing the economy and helping India assume market leadership in Green Hydrogen. It supports the development of supply chains for efficient transportation and distribution of green hydrogen.
Subsidy Schemes for Biomass Utilization: The government offers subsidies to promote biomass-based power plants, biomass cogeneration projects, and biomass gasifiers, encouraging the utilization of biomass for energy production.
National Innovations in Climate Resilient Agriculture (NICRA): This flagship program focuses on developing technologies resilient to climate change impacts on agriculture. It includes cultivating resilient crop varieties, implementing intercropping systems, and promoting organic farming.
Green Credit Scheme: This scheme aims to encourage behavioral change and incentivize environmental and ecosystem services across various sectors. It promotes sustainability and climate action in areas such as forest and ecosystem services, waste management, and air and water quality improvement.
WAY FORWARD
Economic Incentives: Financial incentives such as tax credits, grants, subsidies, and low-interest loans can help offset the higher upfront costs and support the adoption of green technologies.
Regulatory Framework: Streamlining regulatory criteria is crucial for setting renewable energy targets, energy efficiency standards for buildings and appliances, emissions reduction requirements for vehicles, and renewable portfolio standards for utilities.
Investment in R&D: Funding research and development can drive technological advancements, reduce costs, and improve the performance and scalability of green solutions.
Capacity Building and Technical Support: Providing capacity building support and technical assistance, including training programs, feasibility studies, and knowledge-sharing platforms, will help businesses, communities, and governments navigate the challenges of adopting green technologies.
Sustainable Procurement Policies: Government procurement policies that prioritize green products and services can create market demand for sustainable goods, driving innovation and reducing costs through economies of scale.
PRACTICE QUESTION
Q: Discuss the significance of green technologies in promoting sustainable development in India. Highlight the challenges faced in their adoption and suggest measures to overcome these challenges. (15M,250W)