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India's energy revolution : insights into the becoming of a global power
\"India is the third largest emitter of Greenhouse Gases which makes it an important player whose climate mitigation actions and inactions are closely scrutinised. This book studies developments in India's energy system from a governance perspective. It presents a unique compilation and synthesis of research findings that captures achievements, shortcomings, and persistent and transient challenges of India's transition towards a net-zero economy by 2070. The book grounds its analysis in domestically formulated goals and reflects on dynamics at the structural level of India's multi-scalar innovation system by highlighting the influencing factors of energy system status and change. It presents the perspectives and positions of different actor groups, studies the market and business, and discusses cases influenced by existing or changing institutions across the whole spectrum of energy resources from fossil to non-fossil fuels and respective technologies. The volume will be useful to students and researchers in energy governance, energy policy and economics, socio-technical transition studies, energy systems engineering, sustainable development, and environmental studies. It will also be of interest to policymakers and investors\"-- Provided by publisher.
Book
Subsidized LPG Scheme and the Shift to Cleaner Household Energy Use: Evidence from a Tribal Community of Eastern India
Traditional fuels have both environmental and health impacts. The transition from traditional to clean cooking fuel requires significant public policy actions. The Pradhan Mantri Ujjwala Yojana (PMUY) is one of the primary policies launched in India to eradicate energy poverty among households. Past studies have focused on the drivers that motivate rural households to adopt clean energy and identified the bottlenecks for adoption of clean energy in developing countries. PMUY’s success in terms of scale and pace is critical in the national drive to provide access to clean energy fuel to each citizen. The present study focuses on two objectives. First, we investigate the intensity of adoption and refill of LPG under the PMUY scheme. Second, we use household and other demographic characteristics to examine the factors that influence households’ decision on using LPG as a cooking fuel. Empirical results show that rapid growth has been witnessed in the provision of subsidized LPG connections. However, the annual average refill status stands at two LPG cylinders per beneficiary household indicating that the majority of the beneficiaries have failed to refill their LPG cylinders. This imbalance between rapid enrollment of LPG and limited refill among beneficiary households indicate the continued usage of traditional sources of energy for cooking. From the primary survey conducted in the rural tribal communities of Odisha, we observe that household income and education played a significant role in adoption of LPG and continued usage of LPG gas. Additionally, the logit and ordered probit models identify that membership in self-help groups, accessibility and awareness of LPG are the major adoption drivers. In conclusion, policy makers need to address the challenge of refill status among PMUY consumers. Further, educating households on health benefits through SHG and creating accessibility at village level can actively increase the usage of LPG.
Journal Article
An empirical analysis of the non-linear impacts of ICT-trade openness on renewable energy transition, energy efficiency, clean cooking fuel access and environmental sustainability in South Asia
Energy security and environmental sustainability have become an integral policy agenda worldwide whereby the global economic growth policies are being restructured to ensure the reliability of energy supply and safeguard environmental well-being as well. However, technological inefficiency is one of the major hindrances in attaining these over-arching goals. Hence, this paper probed into the non-linear impacts of ICT trade on the prospects of undergoing renewable energy transition, improving energy use efficiencies, enhancing access to cleaner cooking fuels, and mitigating carbon dioxide emissions across selected South Asian economies: Bangladesh, India, Pakistan, Sri Lanka, Nepal, and Maldives. The results from the econometric analyses reveal that ICT trade directly increases renewable energy consumption, enhances renewable energy shares, reduces intensity of energy use, facilitates adoption of cleaner cooking fuels, and reduces carbon-dioxide emissions. Moreover, ICT trade also indirectly mitigates carbon-dioxide emissions through boosting renewable energy consumption levels, improving energy efficiencies, and enhancing cleaner cooking fuel access. Hence, these results, in a nutshell, portray the significance of reducing the barriers to ICT trade with respect to ensuring energy security and environmental sustainability across South Asia. Therefore, it is ideal for the government to gradually lessen the trade barriers to boost the volumes of cross-border flows of green ICT commodities. Besides, it is also recommended to attract foreign direct investments for the potential development of the respective ICT sectors of the South Asian economies.
Journal Article
Role of Non-Renewable Energy Efficiency and Renewable Energy in Driving Environmental Sustainability in India: Evidence from the Load Capacity Factor Hypothesis
Policymakers and environmental scientists have proposed numerous measures toward achieving a sustainable environment. Some of these measures include the efficient use of energy and a clean energy transition. This study empirically investigates the role of non-renewable energy efficiency and renewable energy utilization in driving environmental sustainability in India over the period from 1965 to 2018. Using the approach of the Dynamic Autoregressive Distributed Lag (DyARDL) simulations, the empirical evidence shows that non-renewable energy efficiency and renewable energy utilization promote environmental sustainability through an increase in the load capacity factor. The effects of financial development and trade impede environmental sustainability through a decrease in the load capacity factor. The results further show that the relationship between income and load capacity factor is characterized by an inverted U-shape. This suggests that the load capability curve (LCC) hypothesis is not valid for India. Given the overall findings of this study, it is suggested that policymakers should promote energy efficiency and renewable energy technologies as the ultimate policy measure to mitigate the accumulation of CO2 emissions and other significant climatic changes in India.
Journal Article
Can nuclear energy fuel an environmentally sustainable economic growth? Revisiting the EKC hypothesis for India
The transition towards a modern cleaner energy pathway has been receiving global attention recently. Although nuclear energy has emerged as an alternative cleaner energy source and is receiving immense policy attention, however, the role of nuclear energy in the environmental degradation mitigation remains inconclusive in the extant literature. Therefore, this study examines the dynamic linkages between gross domestic product, foreign direct investment inflows, nuclear energy consumption, trade openness, and CO
2
emissions for India within the environmental Kuznets curve framework over the period 1978–2019 through various robust econometric models that takes into consideration the presence of structural break in the data. The present study confirms the existence of an “inverted N shape” environmental Kuznets curve, a phenomenon rarely observed in environmental Kuznets curve literature for India. Besides, the predicted turnaround points of environmental Kuznets curve highlight that India has already reached the positive peak approximately by the year 2015. The empirical findings also confirm the existence of a J-shaped relationship between foreign direct investment inflows and CO
2
emissions, which indicates that India is in the transient phase moving from pollution halo towards pollution heaven with progressive foreign direct investment development. Trade openness is also found to have a beneficial effect on environmental quality implying the trade policy of India encourages green trade activities to safeguard the environment. The empirical results also reveal the beneficial effect of nuclear energy consumption on air quality, thereby suggesting an accelerated adoption of nuclear energy in the Indian energy mix. The results also highlight that nuclear energy adoption in this booming phase can facilitate a “tunnelling effect” for sustainable economic growth for India. Hence, these findings may provide key policy recommendations regarding energy transition and environmentally sustainable economic growth.
Journal Article
Forecasting of non-renewable and renewable energy production in India using optimized discrete grey model
Renewable energy delivers reliable power supplies and fuel diversification, enhancing energy security and lowering fuel spill risk. Renewable energy also helps conserve the nation’s natural resources. Solar and other renewable energy sources have become increasingly prominent in recent years. India has achieved the 20 GW capacity solar energy production target before 2022. It is presently producing the lowest-cost solar power at the global level. Thermal energy has dominated the energy market. Countries have decided on energy generation from renewable sources and adopting green energy. This study forecasted non-renewable and renewable energy from multiple sources (hydropower, solar, wind and bioenergy) using grey forecasting model DGM (1,1,
α
). The comparative analyses with the classical models DGM (1,1) and EGM (1,1) revealed the superiority of the DGM (1,1,
α
). We also used CAGR for 2009–2019 to compare the actual and predicted data growth rate. The results show that non-renewable and renewable energy production is expected to increase. However, renewable energy generation wind sources continue to increase faster than hydropower, solar and bioenergy.
Journal Article
Environmental benefit of clean energy consumption: can BRICS economies achieve environmental sustainability through human capital?
This paper scrutinizes the asymmetric impact of education and education expenditure on clean energy consumption and CO2 emissions in the BRICS economies using annual data for the period 1991–2019. The analysis employs a nonlinear autoregressive distributed lag (ARDL) framework. Findings unfold that a positive change in education contributes to increasing clean energy consumption in Brazil, Russia, India, and China. This finding implies that a negative change in education contributes to reducing clean energy consumption in Brazil, Russia, and India in the long run. Nonetheless, a positive change in education expenditure increased the clean energy consumption in Brazil, Russia, and India, while it has decreased in South Africa. On the dark side, a negative change in education expenditure degrades clean energy consumption in India, China, and South Africa in the long run. The asymmetric empirical results of CO2 emissions are mixed, economy-specific, and vary across group countries in the long run. We find that the education and education expenditure has long-run asymmetric effects in BRICS industries. Thus empirical findings give us robust policy implications for BRICS economies.
Journal Article
An investigation of financial openness, trade openness, gross capital formation, urbanization, financial development, education and energy nexus in BRI: Evidence from the symmetric and asymmetric framework
Clean energy development can bring numerous benefits, such as decreased greenhouse gas emissions, improved air quality, and increased job opportunities in the green industry. These advantages can be achieved through the collaborative efforts of all stakeholders involved. Ultimately, adopting clean energy can lead to a healthier planet and economy. Energy availability and scarcity influence the aggregated economy. The present study explores the interrelationships between financial openness, trade openness, gross capital formation, urbanization, financial development, education, and energy within the Belt and Road Initiative (BRI) nations. A panel of 56 nations has considered empirical investigation for 2002–2020. The coefficients extracted from CS-ARDL revealed a catalyst role of openness in the energy mix, especially the inclusion of clean energy both in the long run and short. The asymmetric evaluation revealed that positive negative shocks in openness lead to a positive association with energy consumption. Moreover, the asymmetric association was also exposed through the execution of a standard Wald test. The study findings show that FO, TO, and GCF are critical in energy sustainability in BRI nations. It implies that clean energy inclusion in the energy mix might be amplified, and energy sustainability may be ensured. The energy transition of Belt and Road Initiative (BRI) nations is significantly affected by financial, trade, and domestic capital adequacy. The success of sustainable energy policies is determined by several factors, which play a crucial role in countries participating in BRI projects; the findings provide insight into the complex interdependencies among the variables above and their effects on the energy dynamics within the BRI region. Furthermore, the research findings hold considerable significance for policymakers as they offer valuable insights into the possible synergies and trade-offs among these factors that can facilitate sustainable energy transitions in the BRI economies.
Journal Article
Research and development intensity and its influence on renewable energy consumption: evidence from selected Asian economies
The main objective of this study is to investigate the impact of research and development (R&D) intensity on renewable energy consumption in selected Asian economies. We have relied on the autoregressive distributive lag (ARDL) method to get empirical estimates. The short- and long-run results show that a rise in R&D intensity increases renewable energy consumption in China and Japan. In the long run, energy intensity and financial development increase renewable energy consumption in China and India only. Among other control variables, a rise in CO
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emissions causes renewable energy consumption to rise in all three economies in the long run. The trade increases renewable energy consumption in India and Japan in the long run. This study shows the important policy implications of promoting R&D and renewable energy consumption in the selected Asian economies.
Journal Article
Examining the dynamics of risk associated with green investment in India: a study on fintech and green bonds for clean energy production
PurposeThe research investigates how green bonds and Fintech contribute to advancing sustainable energy adoption in India while addressing the intricate investment risks associated with green initiatives.Design/methodology/approachThis study employs a stringent approach, conducting an extensive examination of data to analyze the interplay among green bonds, Fintech, and the renewable energy industry in India.FindingsThe study unveils Fintech’s capacity to optimize financing for renewable projects in India by leveraging blockchain technology and digital platforms, enhancing accessibility and investor confidence. Additionally, it underscores the role of green bonds in fostering the development of eco-friendly energy sources.Originality/valueThis research offers novel insights into the dynamic relationship among green bonds, Fintech, and India’s renewable energy sector. It emphasizes the importance of adaptable regulatory frameworks in facilitating sustainability efforts and provides valuable guidance for stakeholders navigating environmental initiatives.
Journal Article