India needs to spend $1.4 trillion more on clean energy shift
India will need to spend an additional $1.4 trillion to adopt clean energy technologies and be on a sustainable trajectory over the next 20 years, the International Energy Agency said in a report titled ‘India Energy Outlook 2021’ on Tuesday.
The investment is around 70% higher than that envisaged under the country’s current policy, but would bring huge benefits including savings of the same magnitude on its oil import bill, the report said.
India is set to experience the largest increase in energy demand of any country worldwide over the next 20 years as its economy continues to develop. Growth, industrialization and an expanding urban population will drive its energy use higher, raising the question of how best to meet that demand without exacerbating issues like costly energy imports, air pollution and greenhouse gas emissions, according to the report.
