Preface
As the effects of climate change intensify, action to reduce carbon intensity and improve energy efficiency is urgently needed. India, one of the world’s fastest growing economies, is also a major manufacturing economy and endowed with abundant renewable energy potential, thanks to its solar, wind and hydropower resources. Accelerating clean energy development in India would increase access to affordable and reliable energy, thus reducing dependence on fossil fuel imports and strengthening energy security at risk from the current energy crisis.
While India has achieved remarkable improvements in energy efficiency and the adoption of renewables, decarbonising the Indian economy and achieving net-zero emissions by 2070 will require an acceleration in the deployment of new technologies. Offshore wind and green hydrogen stand out as strategic opportunities to help achieve India’s clean energy targets. The market uptake of these technologies would facilitate the shift to clean power generation and to low-carbon processes in industry. Significant energy efficiency opportunities also remain untapped. Drawing upon the strong Indian manufacturing ecosystem, deploying these technologies can provide quick and significant benefits across various sectors.
This publication is the result of the close engagement between the OECD, the Natural Resources Defense Council (NRDC) and the Government of India alongside other clean energy stakeholders. The Roadmap provides an overview of the latest developments in energy efficiency, offshore wind and green hydrogen in India, highlighting barriers to investment and identifying potential solutions. The report’s tailored recommendations for the Government of India seek to strengthen the domestic enabling environment. The OECD also brings international experiences in other countries that can serve as examples and lessons learned for similar measures in India.
I hope that the OECD recommendations in this report not only help to strengthen India’s domestic enabling environment but will also in turn help to mobilise private capital for investments in India’s energy transition and its path towards sustainable development. The OECD stands ready to continue to support India in achieving net-zero emissions through the implementation of the report’s recommendations.
