In a report from carbonbrief.org, daily statistics on energy consumption and power plant activities demonstrate that India’s total year–over–year emissions has,for the first time in 4 decades, fallen.
The country’s CO2 emissions fell by 15% in March, and 30% in April, in what could primarily be attributed to COVID-19 measures. However for 12 months, the rate at which Indians were demanding more power slowed drastically, and it was the March shutdowns that capped the new growth of power generation from oil, coal and gas below zero for the first 12-month period in 30 years (falling 1%).
Moreover, in March, when coal-fired power generation fell by 15% it was married with a 6.7% increase in use of renewable energy. These were also joined by a year-by-year fall in total coal deliveries, both imported and domestic—the first of such demand drops in 20 years.
This was despite the fact that more coal was mined in India this fiscal year than last year, indicating that the slowdown is not due to limited supply but a milder demand for coal as an energy source.
Production for other fossil fuel energy sources is also falling, with fiscal year 2019-20 seeing a drop in crude oil production of 5.9% and natural gas of 5.2%.
According to a report from Carbon Tracker entitled “How to Waste Half a Trillion Dollars” economists warn that half a trillion in coal-plant investments around the world are at risk of becoming so unprofitable in the future as to totally impair the repayment of any investment dollars, as it is already 50% more expensive to operate an Indian coal-fired power plant than renewable sources. This number will rise to 100% by 2030.
India recently began setting records for cleaner air, and now it seems the country is leaping on the opportunity to keep it going.
Source:GNN