India’s Green Hydrogen Policy released on February 17, 2022 has addressed several critical challenges such as open access, waiver of inter-state transmission charges, banking, time-bound clearances, etc., and is expected to further boost India’s energy transition.
India’s per capita energy consumption is about one-third of the global average and one-twelfth of the U.S. Increasing growth and economic prosperity would significantly increase India’s energy appetite furthering import dependence. This, coupled with volatility in prices, as seen during the Russia-Ukraine crisis and the roller-coaster ride of energy prices from historic lows in 2020 to record highs in 2021, could pose a serious threat to our energy security, accentuating an unequivocal need to strive for energy independence. The new age fuel, hydrogen, is touted as India’s gateway to energy independence. Hydrogen has a multifaceted role to play in the futuristic energy landscape, be it energy storage, long-haul transport, or decarbonisation of the industrial sector.
Also read | OIL commissions India’s first pure green hydrogen plant in Assam
