Nalin Agarwal

Carbon pricing is essential, spreading rapidly and carbon border adjustment mechanisms are following quickly. This past week saw another seminar in my series with Indian utility professionals under the auspices of the India Smart Grid Forum (ISGF) at the invitation of its long-serving president Reji Kumar Pillai. Linked are the slides and full transcript. https://lnkd.in/gpZ5MFrN Carbon pricing just adds all of the costs to transactions in markets, not allowing some organizations and firms to be free riders because a key waste stream with big impacts is invisible, odorless and floats away unnoticed. It's a conservative Pigovian tax, a market mechanism. It's just like the successful so-called sin taxes on tobacco and alcohol which have proven themselves over and over again in countries around the world to be good and effective policy. The EU — the highest import-export bloc in the world — has the most aggressive carbon price, is signaling that it will be much higher, is including all greenhouse gases as of 2026, and is building a carbon border adjustment mechanism which also starts having fiscal teeth in 2026. The United States has prices on methane leakages and high-global warming refrigerants, its richest state, California, has a carbon price on all GHGs, and the country almost introduced a CBAM. China has a carbon market on major emissions sources, one which is growing. Indonesia has carbon pricing. Argentina has carbon pricing. Mexico has carbon pricing. Canada has carbon pricing. Australia has carbon pricing. The UK has carbon pricing. Countries that electrify everything with renewables will outcompete countries that persist with fossil fuels. China is leading on electrification with renewable. Carbon pricing isn't regressive. Rich people emit a lot more GHGs so pay more in carbon prices, but there's no world where that's a burden on them. Impoverished people emit much lower levels of GHGs and pay less carbon pricing. And carbon pricing can easily be made progressive. Canada does it by pricing all GHGs and returning dividends to all Canadians quarterly. Economists tracking this show clearly that the bottom 60% of income earners receive more in dividends than they pay in carbon prices, and they get that money every three months. Voluntary carbon markets don't cut it. Feel-good carbon credits that are unregulated don't cut it. States and post-national entities like the EU have to impose them or they are just ways for the rich to buy indulgences at the expense of the poor, and in 20 years the poor are going to yank those indulgences back. Pricing greenhouse gases into market transactions is one of the most effective ways to get firms and people to stop burning fossil fuels and to electrify everything. It's a conservative fiscal measure. It's remarkable that so many so-called conservatives are opposed to it. #economics #markets #carbontax #carbonprice #climateaction

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Maharashtra Electricity Regulatory Commission (MERC) and Global Energy Alliance for People and Planet (GEAPP) have signed a Statement of Intent (SoI) to advance Maharashtra’s energy transition through regulatory and policy innovations. Read more: https://lnkd.in/gzHVip3V #MaharashtraEnergyTransition #SustainableEnergy #CleanEnergyFuture #MERC #GEAPP #EnergyInnovation #RenewableEnergy #GreenMaharashtra #PolicyForSustainability

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Panelist 3 explains the potential of financing players with incredible collaboration across the board for different types of credits and how to scale consistently. #KeyPoint 272 Carbon Offsets in India alone with 90% in renewable energy - Zeenat Iqbal #carbontrade #IRECs #ClimateInvestments #Article6

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Hydrogen India To enlighten this conversation it is essential to note that the buzzwords "Green Hydrogen" are used to position advocates as leaders in the sustainable electrolysis of water. This is misleading as water H2O electrolysis splits the molecule into hydrogen H2 and oxygen O2 and the term Oxyhydrogen HHO (Brown's Gas) accurately describes this stoichiometric 2:1 mixture. The so-called green hydrogen is a by-product having the oxygen artificially separated out (wasted), which makes the process less energy efficient by one-third. FYI there is a comparison of H2 and HHO in my LinkedIn feed. #Electrolysis #Water

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Council on Energy, Environment and Water (CEEW) and Climate Finance Leadership Initiative (CFLI) in #India released a new report, "Financing Green Hydrogen in India" - This report presents actionable private sector considerations for Indian policymakers at both the national and state levels to strengthen the enabling environment for green hydrogen uptake in India while also catalyzing investment into the industry. - These considerations align with the Ministry of New and Renewable Energy (MNRE)'s mission components - generating demand, incentivizing supply, and developing key enablers - and are supported by estimated demand projections as well as a breakeven cost analysis. Key Highlights -Green hydrogen demand in India is projected to exceed 27.2 million tons per annum by 2050, primarily led by industries such as #steel, #fertilizers, #refineries and by long-haul #heavyduty #road #transportation applications. -By leveraging its competitive advantage in #renewables #energy costs India can emerge as a leading exporter of green hydrogen, especially in the short-to-medium term. -The cost of switching from grey to green hydrogen remains the largest impediment to the industrial uptake of green hydrogen in India. As per current industry estimates, green hydrogen production costs range between USD 3.5-5 per kg while breakeven costs for green hydrogen to replace conventional fuels are less than USD 2 per kg. -A nascent enabling #infrastructure for green hydrogen deployment and high financing costs are other prominent challenges faced by the sector. -Policy considerations such as waiver of power banking and open access charges, reducing the GST on electrolyzers and renewable energy components, availing incentives under the SIGHT scheme, accessing cheaper green debt for financing green hydrogen projects coupled with market-driven innovations in #electrolyser and renewable energy technologies can cumulatively reduce the levelized cost #LCOH of #green #hydrogen by around USD 1.8 /kg in India. Osama Fawzy Georgy HENEIN, MBA

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NEW: Joint report by DIW Berlin - German Institute for Economic Research & SFC highlights key challenges to clean energy finance in India, focusing on regulation, institutional mandates, coordination, and market development. Key takeaways: - Regulatory hurdles are minor for large-scale renewables, with established governance structures. - Small-scale renewables and energy efficiency sectors need more policy support and funding, partly due to low awareness and disaggregation. - International funders should enhance collaboration with domestic actors to strengthen policy landscape for small-scale renewables and energy efficiency. - Enhanced coordination among actors, potentially through clearer processes for consultations, is essential for effective climate action in India. Authors: Aman Srivastava, Srishti Jain, Sangeeth Raja Selvaraju, heiner von luepke & Emil Huth https://lnkd.in/gsWWErdU

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'Budget 2024 must further India’s clean energy goals. Climate change is an economic problem' Vibhuti Garg, director, South Asia, Institute for Energy Economics and Financial Analysis, writes

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The India Smart Grid Forum (ISGF) recently concluded its seminar series for utility professionals on my Short List of Climate Actions That Will Work with a session on why hydrogen for energy is a distraction that only serves to perpetuate the fossil fuel industry. As always, thanks to the ISGF and founder Reji Kumar Pillai for allowing me to assist India in my small way to thread the needle of prosperity and lower carbon. Lightly edited transcript, slides and video: https://lnkd.in/giUS4tpK Despite the ongoing hype, hydrogen remains a costly and inefficient energy solution compared to electrification and other alternatives. In the seminar, I outlined why hydrogen is not viable for widespread energy use. Its production, particularly green hydrogen, requires vast amounts of renewable energy and critical minerals, making it expensive. Storage and transportation also add significant costs due to hydrogen's diffuse nature, requiring high-pressure systems or extreme cooling. These inefficiencies make hydrogen far more expensive than direct electrification, especially for transportation and grid storage. While hydrogen has applications in industries like (declining) refining and fertilizer production, where decarbonization is essential, it will never be a practical choice for mainstream energy needs. Electrification, batteries, and other established technologies remain far more cost-effective and scalable. For more insights, watch the video presentation and review the accompanying transcript and slides below. #energy #climateaction #India #policy #economy

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🚨 Major Updates: The Central Electricity Authority of India’s CO2 Baseline Database for the Indian Power Sector - December 2024 🚨 The Central Electricity Authority has just released Version 20.0 of the CO2 Baseline Database (Dec 2024), bringing key updates to emission factors and methodologies! 🔄What’s New? 🔹 Fresh Data: Added data for FY 2023-24, including new stations and units, with decommissioned units removed. 🔹 Renewable Energy Integration: RE generation now plays a role in Build Margin (BM) & Combined Margin (CM) calculations, improving grid emission intensity. 🔹 Refined Emission Factors: Weighted Average, OM, BM, and CM factors now include RE generation, captive generation, and imports. 📉 Breakdown of the Grid Emission Factor for Carbon Projects: 🌬️ For Wind & Solar Projects: Combined Margin = 0.861 tCO2/MWh (75% OM: 0.964 + 25% BM: 0.552) 💡 For Non-Solar & Wind Projects: Combined Margin = 0.758 tCO2/MWh (50% OM: 0.964 + 50% BM: 0.552) 🌟Why It Matters? This update shows India's progress in renewable energy capacity and its role in reducing grid emissions, supporting our sustainable future. 🌱 #CarbonCredits #RenewableEnergy #Sustainability #ClimateAction #EnergyTransition

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Storage is the main issue today when it comes to energy transition. As far as pumped storage is concerned, the government has drafted a number of policies but a sense of ownership is missing. Just formulating policies will get us nowhere. The government needs to become a part and parcel of this entire exercise. #storage#energytransition#pumpedstorage https://lnkd.in/gytherNu

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Government's New EV Charging Infrastructure Policy for 2 and 3-Wheelers: A Significant Push for Green Mobility The Government of India has announced a robust new policy to support electric vehicle (EV) adoption by subsidizing up to 80% of the back-end infrastructure costs for setting up EV charging stations, specifically for two and three-wheelers. This marks a major development under the newly launched ₹10,900 crore PM E-Drive Scheme. The initiative aims to deploy 72,300 public charging stations (PCS) through 2,000 cities, which will cater predominantly to smaller EVs. Out of this, 48,400 chargers will be dedicated to two and three-wheelers, a crucial segment in India’s transport system, while 1,800 chargers will serve buses. The need to expand EV charging stations cannot be overstated. A well-developed charging network is key to driving widespread adoption of electric vehicles and alleviating range anxiety. Moreover, these stations are expected to operate primarily during the daytime, helping align EV charging demand with solar energy production. This strategy will help optimize solar generation, pushing the renewable energy agenda forward and easing pressure on the grid during peak morning and evening hours. The government's plan is also focused on promoting local manufacturing of EV chargers. From December 2024, there will be a minimum domestic value addition (DVA) requirement of 50% in the manufacturing of EV chargers. This step not only supports local industry but also reduces dependency on imports, making India's EV infrastructure more self-reliant and sustainable. In sum, this new policy promises to revolutionize India’s EV landscape, combining green energy integration with local manufacturing incentives to drive future growth. #GreenMobility #EVCharging #SustainableEnergy #SolarPower #ElectricVehicles #MakeInIndia #RenewableEnergy #FAMEIndia #DaytimeCharging #TwoWheelers

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https://lnkd.in/dSHt_HTu As India races toward achieving its ambitious renewable energy goals, the nation’s solar parks are setting new global benchmarks. With an installed capacity exceeding 90 GW, India has proven that large-scale solar projects are not just viable but can significantly reduce energy costs and carbon emissions. Ultra mega solar parks like Bhadla and Pavagada showcase India's leadership in clean energy, while the country’s efforts through initiatives like the International Solar Alliance (ISA) highlight its role as a global advocate for renewable energy. #IndiaSolar #RenewableEnergy #CleanEnergyLeadership #SolarParks #ClimateAction #SustainableEnergy

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India to invest over $360 billion in renewable energy and infrastructure by 2030! India is setting a new benchmark in renewable energy and infrastructure development with an unprecedented investment plan. Here are the key highlights:  >>Renewable Energy: India aim to add 50 GW of renewable energy capacity annually from 2024, reaching a target of 500 GW by 2030. This will necessitate an investment of $190 billion-$215 billion over the next seven years. >> Infrastructure Enhancements: An additional $150 billion-$170 billion will be invested in electricity transmission, distribution, and energy storage. >> Airport Development: Approximately INR 55,000 crore to INR 60,000 crore will be allocated for the development of greenfield airports over the next 3-4 years. >> Road Construction: India's road construction is expected to grow by 5%-8%, adding between 12,500 km and 13,000 km in fiscal 2025. >> Digital Transformation: Rapid digitalization will drive around INR 1.5 lakh crore into data center investments over the next 5-6 years. With robust government policies and stable regulatory frameworks, these investments are poised to enhance the credit quality and propel India towards a sustainable future.

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𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐘𝐢𝐞𝐥𝐝𝐬 𝐟𝐫𝐨𝐦 𝐔𝐭𝐢𝐥𝐢𝐭𝐲-𝐬𝐜𝐚𝐥𝐞 𝐬𝐨𝐥𝐚𝐫 𝐩𝐨𝐰𝐞𝐫 𝐩𝐥𝐚𝐧𝐭𝐬 𝘏𝘪𝘨𝘩 𝘐𝘮𝘱𝘢𝘤𝘵 𝘛𝘩𝘦𝘮𝘦 @ 𝘊𝘓𝘐𝘔𝘈𝘍𝘐𝘟 2024 - 𝘐𝘯𝘯𝘰𝘷𝘢𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘐𝘮𝘱𝘢𝘤𝘵 𝘛𝘩𝘦 𝘴𝘶𝘮𝘮𝘪𝘵 𝘸𝘪𝘭𝘭 𝘧𝘦𝘢𝘵𝘶𝘳𝘦 𝘢𝘣𝘰𝘶𝘵 25 𝘩𝘪𝘨𝘩-𝘪𝘮𝘱𝘢𝘤𝘵 𝘥𝘦𝘤𝘢𝘳𝘣𝘰𝘯𝘪𝘻𝘢𝘵𝘪𝘰𝘯 𝘵𝘩𝘦𝘮𝘦𝘴. India is all set to reach 100 GW of cumulative installed capacity soon, and by 2030, could have well over 300 GW of solar power plant capacity. A large portion of this capacity will comprise utility-scale projects.   Which is why increasing the yields from existing solar power plants starts making a lot of sense. If we are able to get a 10% increase in yield, by 2030, that could mean the equivalent of 30 GW of installations for the same upfront capital investment! But there are challenges to significantly increasing yields from large-scale solar power plants - environmental challenges such as dust, soiling, temperature variations, shading effects, technical challenges such as panel degradation, potential induced degradation (PID), inverter efficiency, and O&M challenges that could degrade panels and reduce their efficiency. On the other side, there are, innovations happening all along the solar PV value chain - from the use of data analytics and AI for O&M optimization, higher effciency solar panels, anti-reflective coatings, effective use of storage solutions and others. A range of startups - Indian and global - are making a mark in developing solutions for this HIT - prominent international examples include SmartHelio — Predictive Solar Software, Zenitrack, Glint Solar, phelas. Prominent Indian startups include Skilancer Solar, Renkube, Solavio labs (Techstars 2023) etc. The rate of innovations and the pace of startups can be even higher given the importance of this sector. CLIMAFIX 2024 will have special presentations and discussions around this High Impact Topic (HIT) for decarbonization, through participation from startups, investors, researchers and solar power plant developers. Be there at CLIMAFIX 2024, India’s largest climate startup & innovation summit, Sep 20 & 21, 2024, at IIT Madras Research Park. Organized by IIT Madras Energy Consortium and EAI. For more details and to register, contact Kaviya at 6369699615 or [email protected] . Get to know more from https://lnkd.in/gXmsbuzW Thank you Neethya L for creating such a wonderful image. The Energy Consortium - IIT Madras - Satyanarayanan Seshadri | Nikhil Tambe, CEO, Energy Consortium - IIT Madras | Deepa Maria Alexander .

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Electricity Tariff mechanisms & Industrial Growth C&I consumers pay ACOS to Discoms plus 20% as Cross Subsidy to enable Discoms to supply electricity to Domestic & Agriculture consumers, across India , under Tariff Policy guidelines. Although this practice is discriminatory but legal under Section 62 of Electricity Act. While Open Access is legal, it is dissuaded by Discoms where state Transco & SLDC support Discoms & Regulations also support this practice. Tariff process is annual excercise where tariff using TOD is fixed for entire year. Now, in many states, 40% Gap is seen between day & peak energy billing rates. Fixed charges are almost Rs 1.75- Rs 3.00 per kWh in many states. Power generation cum demand changes month to month, hours to hours, can be checked on Indian Energy Exchange (IEX) . Why Tariff Policy can not be revised and Tariff for C&I be fixed as Say Rs 3.50 per kWh fixed rate ( whether from Discom or in OA) and 120% of Energy charges as determined for each time block on IEX? #Reform_Tariff to ease access of electricity & maximum usage of electricity by C&I at their affordable times. Let market grow for generator, Px, Power Traders , Industry and Ease Business of Power Delivery!!!

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IPO Review: NTPC Green Energy’s IPO isn’t just about numbers. How does this ₹10,000 crore IPO fit into the big picture of India’s commitment to clean energy and should you be jumping at this opportunity to energize your investments? Vidya Bala dissects it all in her report. 🌟 [Premium; Register for free to read] 💵 https://lnkd.in/gXe6gRpU

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IPO Review: NTPC Green Energy’s IPO isn’t just about numbers. How does this ₹10,000 crore IPO fit into the big picture of India’s commitment to clean energy and should you be jumping at this opportunity to energize your investments? Vidya Bala dissects it all in her report. 🌟 💵 [Premium; Register for free to read] https://lnkd.in/gXe6gRpU

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As the relentless heatwave continues to sweep across north India, states in the region are buying from short-term power markets to meet the rising demand and minimize power outages, officials from at least three power distribution companies told me. The peak demand in the northern grid on June 17 caused a partial outage in some parts and triggered concerns over the possibility of tripping the national grid. Most industry players said they are cautious that despite best efforts parts of north India may be staring at power outages. #power #electricity #powercut

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