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The Bureau of Energy Efficiency (BEE) Director General Abhay Bakre on Friday emphasised that the development of a carbon trading market in India is important for the promotion of green hydrogen.
“The change for the amendment to the Energy Conservation Act has empowered the government to launch the carbon trading scheme, which is a very important element for promoting green hydrogen in the country,” Bakre said at the IESW 2023.
It enables a lot of decarbonisation potential and facilitates revenue through carbon trading, making it a prospective opportunity, he added.
International Solar Alliance (ISA) DG Ajay Mathur too stressed on ramping up the current infrastructure for green hydrogen.
“Hydrogen demand is on the rise in the transportation industry, with China leading the way in hydrogen-driven vehicles. The absence of hydrogen refuelling infrastructure remains a major hurdle,” he added.
Nonetheless, hydrogen’s non-toxicity and ability to adapt to existing petrol or diesel infrastructure make it an essential component in the energy transition. As battery and hydrogen technologies take centre stage, their potential impact on the future of energy cannot be ignored, Mathur pointed out.
Industry body India Energy Storage Alliance (IESA) President Rahul Walawalkar said that from industrial decarbonisation to transportation, every sector is ripe with opportunities.
With a clear roadmap and evolving business cases, the industry can replicate success and avoid past deficits, achieving the goals in just five years. So let’s collaborate and leverage industry’s experience and passion for this sector to make this transition a reality, he added.
The development of a domestic market for green hydrogen, along with the focus on electrolyzer manufacturing, will create a strong demand for green hydrogen, which is the first step towards achieving India’s ambitious targets.
The National Green Hydrogen Mission has been working towards creating a clear vision for getting 25 per cent of the domestic hydrogen requirement through green hydrogen by 2030.
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