ES Ranganathan Talks About The Future Of Energy Sources
India is well on its way to becoming the frontrunner in the global race for zero emissions.
The global energy landscape is evolving rapidly, driven by the need for sustainable and cleaner alternatives to traditional fossil fuels. With news of global warming coming up every day, governments throughout the world have started working on reducing their carbon footprint.
Energy sources used worldwide encompass a mix of fossil fuels, renewable energy, and nuclear power. Fossil fuels, such as coal, oil, and natural gas, continue to dominate the global energy landscape despite concerns about climate change. These fuels have historically been relied upon for their abundance and energy density. However, due to their significant carbon emissions and environmental impact, efforts are underway to reduce their usage and transition to cleaner alternatives.
Renewable energy sources have witnessed a significant increase in adoption across the globe. Solar, wind, hydroelectric, and geothermal energy are leading the way in the renewable energy revolution. Solar power harnesses energy from the sun through photovoltaic cells, while wind power converts the kinetic energy of the wind into electricity using turbines. Hydroelectric power utilizes the force of flowing or falling water, and geothermal energy taps into the Earth’s natural heat.
“Renewable energy sources offer several advantages, including their sustainable nature, the absence of carbon emissions during operation, and the potential for long-term cost savings. As technology is advancing, the cost of renewable energy generation has been decreasing, making it increasingly competitive with fossil fuels.” Says ES Ranganathan, former marketing director of GAIL and an expert in the Oil and Energy industry.
Nuclear energy also plays a significant role in the global energy mix. Nuclear power plants generate electricity through controlled nuclear reactions, specifically nuclear fission. This process releases a substantial amount of energy and offers a reliable and low-carbon source of electricity. Nuclear power is utilized in several countries and provides a significant portion of their electricity generation.
Other emerging energy sources include hydrogen and tidal energy. Hydrogen, often referred to as the “fuel of the future,” can be produced through electrolysis, and has applications in transportation, industry, and power generation, shares ES Ranganathan. Tidal energy harnesses the power of ocean tides to generate electricity, offering a predictable and renewable source of energy.
If we talk about India, a rapidly developing nation with a growing energy demand, has been actively pursuing a diversified energy mix. The country’s energy strategy includes a focus on renewable energy sources and reducing dependence on fossil fuels.
During the COP26 climate conference, India announced an ambitious revision of its Nationally Determined Contribution (NDC) target for non-fossil energy. The country has raised its goal to achieve 500 GW of non-fossil energy capacity by 2030, surpassing its previous target of 450 GW. Additionally, India pledged to achieve net-zero emissions by 2070. ES Ranganathan shares, “It is great to see that The power minister of India expressed confidence in achieving these targets, stating that they are easily attainable. Achieving these targets on time will surely place India as the frontrunner in the global race for zero emissions!”
The plan involves generating around 450 GW of energy from solar and wind sources, with an additional 70-100 GW from hydropower. To meet the 500 GW target, India intends to extend the renewable purchase obligation from 2022 to 2030, with a significant portion of the additional capacity coming from hydropower, specifically 70-100 GW.
The future of energy sources lies in a diversified mix that emphasizes cleaner and renewable alternatives. Countries worldwide are transitioning towards renewable energy, reducing reliance on fossil fuels. India, too, is actively pursuing renewable energy expansion while maintaining a balanced approach. With increasing focus on hydrogen, nuclear, solar, and wind power, the world is moving towards a more sustainable and carbon-neutral energy future. This transition is crucial for combating climate change, ensuring energy security, and fostering long-term environmental sustainability.