Fossil fuel dominance in electricity generation to end by 2030, renewable to cross 50% share: RBI
fossil fuels in electricity generation in India will end by the end of the decade said Reserve Bank of India in its latest report.
The report also noted that the renewable energy is expected to cross 50 per cent share in electricity generation globally. It added that the energy transition has accelerated in recent years, with the pace of clean technology deployment and capital investment surging to record levels.
«The era of fossil fuels' dominance is coming to an end, with renewables expected to cross 50 per cent share of electricity generation globally by the end of this decade» said RBI.
It added that the rise of cleaner power generation offers a valuable window to address «hard-to-abate» sectors such as steelmaking and aviation, where low-carbon alternatives are still in their nascent stages. The central bank also highlighted that the importance of increasing investments in low-carbon energy.
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