Why in news?
In partnership with NITI Aayog, International Energy Agency (IEA) on 10th January, released the first in-depth review of India’s energy policies.
Details of Review of India’s energy policies
- The report highlights the achievements of India’s energy policies and provides recommendations to support the government’s goals of promoting well-functioning energy markets and boosting the deployment of renewables.
- IEA regularly conducts in-depth reviews of energy policies for its member and association countries.
- This is the first review carried out for India, which has been an IEA-association country since March 2017.
- As India builds on the remarkable growth and development of its energy sector, this in-depth review will help the Government in meeting its energy objectives by setting out a range of recommendations in each energy policy area.
What was within the report?
- The report highlights the strong growth of renewables in India, which now accounts for almost 23% of the country’s total installed capacity.
- The review of India’s energy policies also found that energy efficiency improvements in India avoided 15% of additional energy demand, oil and gas imports, and air pollution as well as 300 million tonnes of CO2 emissions between 2000 and 2018.
- India is becoming increasingly influential in global energy trends.
- The country’s demand for energy is set to double by 2040, and its electricity demand may triple, according to the IEA report.
- The review also strongly encourages India to institutionalise energy policy coordination across government with a national energy policy framework.
- The report will help India to design implementation strategies to achieve secure and sustainable energy access for its citizens.