According to reports, the civil aviation ministry is looking at creating a regulatory sandbox for advanced electric air mobility options in India in an attempt to address the problem of increasing urban congestion. According to a media report, Vumlunmang Vualnam, the secretary of civil aviation, stated, “We are ready to encourage and assist advanced air mobility.” He was giving a speech at the Greater Noida International Conference on Air Mobility. In addition to developing new solutions for the future, the centre anticipates that the move will help enhance efforts in the research and development of advanced mobility solutions. According to the article, representatives from the Directorate General of Civil Aviation (DGCA) have already begun touring possible field locations for advanced air mobility testing trials and other associated activities.
Observing Other International Players
Six working groups pertaining to different facets of advanced air mobility have also been established by the regulating body. The nation is currently investigating the work being done in the areas of airspace management, infrastructure development, and regulatory framework for advanced air mobility by other nations, including the US, EU, Singapore, and Dubai. The ePlane Company, an air mobility startup, teamed up with TCS this month to create electric air mobility solutions for both passenger and freight transportation. The business raised $14 million in its Series B fundraising round two months ago in order to accelerate its commercialisation goals and acquire international regulatory approvals. Electric Vertical Take-Off and Landing (eVTOL) aircraft and associated solutions are developed by the startup.
A Sector with Bundle of Opportunities
With its ability to reduce carbon emissions, ease traffic, and offer quicker, more effective means of transit, advanced air mobility has the potential to completely transform urban transportation. India is in a unique position to gain from these technologies because of its quickly growing metropolitan centres. India’s aviation infrastructure is growing, as Vualnam pointed out. There are already more than 150 airports in the nation, and by 2047, there will be 350. India is expected to carry 3.5 billion passengers a year by that point, solidifying its position as one of the aviation economies with the greatest rate of growth in the world. Advanced air transportation solutions could be included in this ecosystem to solve important urban issues and boost economic growth even further.
Major Challenges to Address
Although the future looks bright, there are many obstacles in the way of the broad use of sophisticated air mobility. It takes a lot of money and careful planning to build the required infrastructure, such as charging stations and vertiports. To meet the special needs of eVTOLs and other AAM technologies, airspace management will also need to be rethought. A proactive strategy to address these obstacles is the creation of a regulatory sandbox, which offers a framework for innovation while guaranteeing public safety and regulatory compliance. India may establish itself as a world leader in advanced air mobility by encouraging cooperation between industry participants, legislators, and regulatory agencies.
Rising energy demands, environmental concerns, and the desire to spearhead the battle against climate change have propelled India to the forefront of the worldwide movement towards sustainable energy solutions in recent years. A complete restructuring of the country’s energy industry is required due to the astronomical growth in energy consumption caused by the country’s rapidly expanding economy and population.
To provide its citizens with sustainable, economical, and dependable electricity, India’s power sector has experienced a tremendous upheaval. Improving power-producing capacity, increasing access to electricity, boosting renewable energy, and implementing creative regulations have all seen tremendous progress in the past nine years. Inspiring accomplishments and game-changing ideas have taken India’s electricity sector to the next level.
According to a report published by PIB, there has been widespread acclaim for India’s efforts to reduce its environmental impact. Over the last nine years, India has increased its generation capacity by more than 175 GW, turning it into a power surplus nation. This achievement would not have been possible without the nation’s dedication to renewable energy. The exponential increase in India’s solar and wind power capacity has solidified the country’s status as a frontrunner in the renewable energy sector. With 43% of its total installed power capacity derived from non-fossil sources, India now ranks fourth globally for Renewable Energy Installed Capacity.
The government of India has been actively promoting renewable energy for daily use owing to its plan to cut down exports of fossil fuel. In a recently concluded COP 28 Summit in Dubai, in the fight against climate change, India is at the forefront of international efforts. In addition to achieving its goals as outlined in the Paris Agreement, it has also served as an inspiration to many. Despite accounting for just a small fraction of global emissions, this nation—which is home to 17% of the world’s population—is making great strides towards meeting its revised NDCs. As it wrapped up its G20 Presidency, India committed to an ambitious goal and adopted a development path that was better for the environment and the planet. It also played an important role in moving the G20 statement on climate change forward. Notably, by placing equal emphasis on energy security and emission-reduction goals, the nation has demonstrated to the rest of the globe how to strike a balance between economic growth and sustainability.
Leading Countries in Installed Renewable Energy Capacity Worldwide in 2022
Rolling Down of Schemes to Promote Solar Energy Consumption
One factor propelling India’s transition has been its dedication to power generation and electrifying all of its citizens. With the completion of its goal of providing electricity to every home in the nation, the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA) program has become an imposing emblem of triumph. From September 25, 2017, to now, 2.86 crore households in urban and rural areas have been connected to the power grid through this ambitious program. This increase in access is the quickest in power history, according to the International Energy Agency (IEA). Both urban and rural areas now have much more power available; metropolitan areas now have nearly 24 hours of power available, while rural areas have seen an increase from 12 hours per day in 2014 to 22.5 hours per day.
In 2015, the Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY) was started to enhance the dependability and quality of electricity supply in rural areas. On April 28, 2018, the DDUGJY program successfully electrified 18,374 villages that had not been previously electrified. This was accomplished by bolstering the distribution network and making sure that energy reached every part of rural India.
Efforts by the government to promote energy efficiency have also produced impressive outcomes. The price of purchased LED bulbs dropped about 90% from Rs. 310 in 2014 to Rs. 39.90 in 2019 under the Unnat Jyoti by Affordable LEDs for All (UJALA) program. The program has delivered more than 36.86 crore LED lights thus far. This program bolstered the “Make in India” drive by lowering electricity prices for consumers and encouraging local production of LED lights. Consequently, energy-efficient lighting solutions have become widely used in India, leading to lower energy usage and a cleaner atmosphere.
The government has launched programs such as the Restructured Distribution Sector Scheme (RDSS) to improve the effectiveness of power distribution. From FY 2020–21 to FY 2021–22, distribution losses of DISCOMs dropped from 21.5% to 16.5% thanks to the RDSS. Energy efficiency, better metering and billing systems, and a decrease in technical and commercial losses are the primary goals of these projects. Consumers can now actively control their energy consumption thanks to smart grid integration, upgraded metering infrastructure, and demand response systems, which have improved grid stability.
It is an inspiring tale of perseverance and growth that the power sector in India has undergone since 2014. India has been a global leader in many energy-related fronts, including universal electrification, increased distribution efficiency, and the quick growth of renewable energy sources. A future driven by sustainable, affordable, and reliable energy has been thrust upon the nation of India thanks to the dedication of its government and the active involvement of its stakeholders. To further develop India’s power sector and ensure a brighter, more prosperous tomorrow for all its residents, persistent investments, innovation, and collaboration will be crucial as the journey continues.
Rethinking its renewable energy goals will be a focal point of India’s energy reforms in 2023. India has set a new goal to achieve 450 GW of renewable energy capacity by 2030, building upon its earlier triumphs. With this lofty target, India solidifies its place as a world leader in the adoption of clean energy by showcasing its dedication to renewable sources such as solar, wind, and hydro.
Innovative projects like floating solar farms on bodies of water and the adoption of modern technologies for optimal efficiency are driving India’s solar business to new heights. Wind farms, both onshore and offshore, are contributing to the expansion of India’s wind energy sector by utilizing the country’s extensive coastline.
Energy storage technologies are being prioritized by India as a means to address the issues of intermittent renewable energy sources and improve the stability and dependability of the system. The government plans to invest in massive battery storage facilities in 2024 to help with energy efficiency and reduce waste. To incorporate renewable energy sources into the system without any hitches, these storage innovations are crucial.
Cutting Carbon Emissions in Transportation and Industry
Indian energy reforms aim to reduce emissions from transport and industry as a whole, not just the power sector. The government plans to implement strict emission regulations and EV incentives in the future. The shift to cleaner transportation is being expedited by the Indian government’s incentives for manufacturing EVs and creating charging infrastructure, which coincides with the vehicle industry’s transition towards EVs.
Sustainable manufacturing techniques and energy efficiency measures are gaining traction in the business world. In addition to lowering carbon emissions, these changes boost operational efficiency and make the company more competitive.
India is committed to building a sustainable and prosperous future, and its energy reforms in 2023 are a reflection of that. India is moving forward with its energy transformation in a big way because of its ambitious renewable energy targets, adoption of energy storage, promotion of green hydrogen, and encouragement of cleaner transportation and industry.
An example for other countries to follow in their pursuit of a more environmentally friendly and sustainable future, India’s determination to drive development through revolutionary energy reforms is being observed by the entire globe.
The concern for the environment had led people to increase their interest in electric vehicles. Not only this, but the cost of fuel can also decrease as all it needs are electric-drive components. As per reports, the worth of the electric vehicles market would be INR 475 Billion by 2025.
The coming decade is anticipated to be the ultimate decade for the future of electric cars in India. With battery amounts reportedly falling up to 73%, electric-powered vehicles are anticipated to be as reasonably priced as gas-powered vehicles within the foreseeable future. The International Energy Agency cites that there would be 70 million electric vehicles by 2025. Till 2026, the EV market is scheduled to grow at a CAGR of 36%.
Nations such as the UK, France, Norway, and India are about to undertake e-mobility on a bigger scale. India has loads to the advantage of the massive adoption of e-mobility. Under the Make In India program, the production of e-cars and their related additives is anticipated to increase the percentage of production in India’s GDP by up to 25% by 2022. On the monetary front, large-scale adoption of electrical cars is projected to assist save $60 billion on oil imports by 2030.
In this article, we will talk about the future of Electric Vehicles in India. So, let’s get started.
Current Situation of the Electric Vehicle Market in India
Currently, 84% of India’s oil name is fulfilled through imports. The price of gas might also additionally need to fall, assisting an electric-powered car owner can save as much as Rs20,000 for each 5,000km traversed. Finally, electrification will lessen vehicular emissions, a key contributor to air pollutants which reasons an average of 3% GDP loss each year.
The electric vehicles industry in India debts for 22% of the country’s overall production output and is the sixth-biggest industry in the world. Reports suggest that EVs can play an essential position in growing the percentage of production in India’s GDP from 15% (currently) to 25% through the year 2022.
Indian Electric Vehicle Market by Vehicle Type
Future of Electric Vehicles in India
Globally, the cost for lithium-ion batteries is approximately $250/kWh, this amounts approximately to Rs5.7 lakh in battery charges alone. Currently, lithium-ion batteries account for 50% of the price of an electric-powered car, making them costly as compared to conventional automobiles.
Safety of the batteries from explosion act as a spanner for Li-ion batteries. A predominant hurdle for EVs in India is charging, or the shortage of charging stations can also be considered, thereby making them impractical or tons less possible for lengthy distance drives. Furthermore, some EVs aren’t as speedy as traditional gas-powered motors.
Most purchasers in India might purchase an electric-powered car by 2022, however majority of them additionally trust that it may also now no longer be available till 2025. Consumers in India are searching for a decreased amount for EVs than purchasers in different nations, with the worldwide common tipping amount for EVs being $36,000 (around Rs27 lakh). Castrol took over 1,000 purchasers, fleet managers and enterprise professionals throughout India.
At a critical juncture, while all nations are engaged in liberating Mother Earth from the claws of carbon emissions, and CO2, India can play a leadership position by switching over to EV mobility to make the country a greener and cleaner ecology.
Impact of COVID-19 on the Electric Vehicle Industry
During the pendency of COVID-19, we watched how the surroundings progressed due to the fact of lesser emissions from petrol and diesel-run motors and industries in India. In many cities, the smog absolutely vanished. In many components of India, people should even view remote mountains that were now no longer possible for them to look for years due to the fact of the atmospheric stumbling blocks created due to the emission of the smoke from fossil-gas run motors. By switching over to clean-inexperienced electricity run EVs, we will make skies crystal clear, permitting us to study remote places. EVs keep the critical thing to everlasting answers of a better, cleanser India for the sustainability of its populace.
Range is the key factor here ie.15km on average, whilst a city taxi also can additionally do 300km daily. In an excellent world, we might have a smaller battery percentage and definitely need to recharge periodically. In practice, taxi and fleet motors can earn money overnight, or even personal customers can also additionally have limits on charging options, without fast charging.
An infrastructure for fast charging an EV calls for a remarkable deal of extra strength than 15 amp sockets, which may provide approximately 3 kW of strength, so 35 kWh takes nearly 12 hours. Unlike the US, maximum Indians don’t have a private garage. Hence, full-size and company-agnostic public charging infrastructure will become a key coverage choice.
Indians are famously price-conscious. This is why clients love diesel cars, notwithstanding their better MRP and pollutants relative to their petrol counterparts. The value of EVs is based upon power price, which varies significantly. At Rs7/kWh (kilowatt-hour) of strength, they value approximately Rs1.1/km This saves clients riding 5,000km steadily over Rs20,000 annually, and ensures a remarkable deal. With the Make In India initiative, there is a chance we will see an increase in the making of EVs.
The capture is the advance value. EVs are expensive, ordinarily due to the battery. A single kWh of power is sufficient to head approximately 6 km, so a 200km “complete tank” variety calls for approximately 35 kWh of battery. Today’s charges for lithium-ion batteries are approximately $250/kWh globally, which involves Rs5.7 lakh in battery prices, with the exception of import duties. Even with an eight-year lifespan and a 12% interest rate, justifying the battery prices on steady with kilometre economic savings. However, whilst battery charges fall to $100/kWh, as projected some years out, EVs can emerge as a recreation changer.
Conclusion
The electric vehicle market will definitely see a surge in the coming years. With the concern for the environment and the surging price of fuel, the need for electric vehicles has increased and will do the same in the future. If proper infrastructure is provided and if it becomes affordable and has access to every consumer group, the EV market might become one of the biggest industries in the country.
FAQs
Who is leading the Electric Vehicles sector in India?
Tata Motors is currently leading the EV sector in India.
Is EV will be successful in India?
Electric vehicles will grow at a CAGR of 36% till 2026.
Are electric cars faster than petrol cars?
Electric cars can accelerate faster than petrol cars but they lack the top speed.
The world has evolved and is still in the process of evolving. We are surrounded by technology and have our hands on things that are making our life easier. However, the more we have evolved, the more we started ignoring nature. This has resulted in drastic climatic change, so much is that we are losing 149 billion metric tons of ice in Antarctica. This has led to the rise of the global sea level in a big way, and researches shows that by the year 2050 big populated cities will get under the water.
Now, the richest and wealthiest people have also contributed to climatic change. The richer they are, the more their carbon footprint increase. Reports claimed that half of the global emission is caused by the 10% wealthiest people in the world. Nw, with great power, comes great responsibility. This rare planet now needs to be saved. We do not have a planet B. Fortunately, some of these wealthy people are aware of what their actions are doing to the world. So all of them are doing their part to save the planet. In this article, we will talk about some billionaires and what they are doing to tackle climate change. So without any further ado, let’s get started.
The second richest person in the world and the founder of E-commerce giant Amazon, Jeff Bezos is clearly aware of what carbon emission is doing to the world. To counter the situation, Jeff Bezos along with Amazon has started an initiative known as The Amazon Climate Pledge, it is signed by other 104 corporations and its main target is to achieve net-zero carbon emission by the year 2040. Apart from that Bezos also has set up a fund called Bezos Earth Fund. Amazon also has a climate fund of $2 billion and this will be invested in new unique technologies that are needed to make a zero-carbon economy. In his Bezos Earth Fund, it is $10 billion and already 16 groups that working on climate change are given $790 million.
Elon Musk
There is hardly anyone who isn’t aware of this person, Elon Musk is currently the richest person in the world with his company like Tesla and SpaceX. He is now the owner of the popular social media site, Twitter as well. From the very first, this person is aware of what Carbon emission is doing to our world. His company Tesla is an electric carmaking company which is an alternative to fossil fuels. His company is known for energy-saving and also for avoiding waste. In 2021, Musk donated $100 million to an NGO called XPrize. XPrize has hosted a competition of four years through which they pledge to find a solution to achieve the removal of 10 gigaton carbon removal target per year by 2050.
Bill Gates
Bill Gates is not only known for his wealth but also for his philanthropy, the founder of the popular multinational tech company Microsoft. Gates is very much aware of the climate change issue the planet faces and has always spoken about its drastic consequences. Being that upfront about climate change, his company Microsoft took many steps to save the planet. In 2019, Microsoft pledged and set a target to source 100% renewable electricity by the year 2030. It has also decided to cut greenhouse gas emissions by 2030 as well. Bill Gates has already authored a best-seller known as ‘How To Avoid A Climate Disaster’. Apart from Microsoft has taken a big challenge of being carbon negative by the year 2030. Microsoft is also part of Amazon’s Climate Pledge and has signed it.
Bernard Arnault
The French business Tycoon Bernard Arnault is the chairman and CEO of the biggest luxury goods company LVMH. Some of the biggest luxury brands like Louie Vuitton, Dior and Sephora are under this. Under the directive of Arnault, LVMH has its own program called LVMH Initiatives For the Environment (LIFE) program, it has decided a target to achieve the use of 100% renewable energy and eradication of fossil-based plastic use in packaging by 2026. Apart from that, LVMH claimed to achieve their goal of 25% reduction of carbon emissions by 2020, in fact, they reportedly surpassed 37% of carbon emissions 12% more than their target.
Mark Zuckerberg
The man behind the biggest social media platform, Facebook and the company Meta is Mark Zuckerberg. Meta in 2021 said that it has reached its target of net-zero of carbon emissions and energy that it has purchased. In 2019, it was one of the largest buyers of renewable energy and is also on the path to investing funds in the projects of carbon removal and nature-based compounds. Zuckerberg along with Meta is focusing on sustainability and is working to tackle the impact of climate change in the world.
Larry Ellison
Larry Ellison is the co-founder and the former CEO of Oracle Corporations. The Oracle Corporation has always believed in sustainable business and has several sustainable goals. Larry Ellison started the SailGP catamarans race in the year 2018, it is to be the first climate positive sport. Its main slogan is ‘Powered by nature’ and has set a target to be 100% charged by renewable energy sources by the year 2025. Apart from that, Ellison has also bought a Hawaiian island and has pledged to turn the island into a place of clean energy. He brought the island in 2012 for $300 million.
Conclusion
With the threat of global warming rising every day, the planet is in danger. There are companies that are playing a big role in the increase of global warming as they are producing carbon emissions. The Billionaires are now taking responsibility and are coming forward by initiating new projects and taking part in sustainable development programmes to save the planet.
FAQs
Who is the richest person in the world?
Elon Musk is the richest person in the world.
Who is Jeff Bezos?
Jeff Bezos is an American entrepreneur and the founder of the biggest E-commerce platform Amazon.
How much CO2 does the world produce?
Approximately, the world produces over 43 billion tons of carbon emissions every year.
Nitin Konde
