Harnessing the Power of the Sun
The Indian government has set ambitious targets to reduce its reliance on fossil fuels and increase the use of renewable energy sources. One of the key strategies to achieve this goal is to harness the power of the sun. The country’s three big heavy industries – steel, cement, and chemicals – can significantly benefit from solar power by optimising costs and cutting CO2 emissions.
- Lower carbon emissions
- Improved energy efficiency
Benefits for the Cement Industry
The cement industry is another significant user of energy in India. By adopting solar power, the industry can reduce its energy costs by up to 25%. Additionally, solar power can help reduce the industry’s carbon footprint by up to 20%. • Reduced energy costs*
- Lower carbon emissions
- Improved energy efficiency
Benefits for the Chemicals Industry
The chemicals industry is also a significant user of energy in India.
Solar power can be used to generate electricity for these plants, reducing their reliance on coal and lowering their operational costs.
The Potential of Solar Power
Solar power has the potential to significantly reduce operational costs for steel and cement plants across most Indian states. The two industries, which are among the largest consumers of electricity in the country, can benefit from the increasing availability and decreasing cost of solar energy.
The Solar Power Opportunity in Heavy Industries
The solar power opportunity in heavy industries is a significant one, with nearly 40 per cent of the 20 GW available capacity concentrated in just two states.
The Challenges of 24/7 Renewable Energy
The Need for Massive Oversizing of Renewable Capacity
To meet the demands of 24/7 renewable energy, the renewable energy capacity must be significantly increased. This requires massive oversizing of renewable capacity to ensure a stable and reliable supply of energy. The renewable energy capacity must be designed to handle the varying levels of energy demand throughout the day and night.
Key Findings
- *Cost-competitive*: Sourcing up to 50 per cent of electricity from variable RE is already cost-competitive for heavy industries.
- *Feasible*: Ember’s modelling shows that reaching 80 per cent RE is feasible.
- *Benefits*: A 100 per cent RE economy would reduce greenhouse gas emissions by 78 per cent, create 46 million new jobs, and stimulate £1.2 trillion in economic growth.
The Role of Variable Renewable Energy
Variable Renewable Energy (RE) sources, such as solar and wind power, are becoming increasingly cost-competitive with fossil fuels. This shift is driven by technological advancements, economies of scale, and decreasing costs. • *Solar energy*: The cost of solar panels has decreased by 70 per cent over the past decade, making it more competitive with fossil fuels.
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