fossil fuels, Renewable energy, india, Ministry of New and Renewable Energy, Anand kumar Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India. (Reuters)

Renewable energy is the only way for a country like India with the population as large as 1.25 billion that has finite fossil fuels to cater to the needs of all, said Anand Kumar, Secretary Ministry of New and Renewable Energy (MNRE). However, asserting the fact that India is determed to achieve the target of installing 175 gigawatt (GW) of renewable energy capacity by 2022, Kumar said that advancements in technology and dropping prices of solar and wind, the country can even surpass the target. “Under Prime Minister Modi, we up-scaled our total renewable energy target to 175 GW by 2022. With advancements in technology, and with price of solar and wind reducing, we are not only sure but confident that we will not only achieve the target, but exceed it,” he said.

While speaking at the 11th edition of Renewable Energy India Expo in Greater Noida on Wednesday, Kumar also said that in recent consultations, the MNRE has begun to take more seriously the potential of India’s offshore wind and hydropower capacities, and hinted that these technologies will be brought under the renewable energy target.

Meanwhile telling about India’s ‘silent revolution’ which will see the country rapidly scale up its electricity generation capacity and consumption, he underlined the key challenge of how to enable higher energy consumption in India, at a cost people are willing to pay, and not only willing to pay, but able to pay as well. He affirmed the path of least resistance is the one with the lowest carbon intensity. “India has limited fossil fuels. We depend on imports for petroleum. If we have to support and meet the demand of 1.25 billion people, then renewables are the only way.”

Kumar also turned his attention to manufacturing, particularly solar manufacturing where, he said India’s capabilities are “modest” at best. He concluded. “We should set up manufacturing bases for batteries in India. Once we overcome the obstacle of storage, then the ideal of 24-hour free energy for the people can be realized.”

Read more: India has limited fossil fuels to support demand...

BHEL, BHEL to diversify portfolio, next wave of growth, solar energy, power equipment maker BHEL, Going beyond thermal power State-owned power equipment maker BHEL today said it will create a diversified portfolio for its next wave of growth that will include areas like solar energy, transportation and water business. (Image: PTI)

State-owned power equipment maker BHEL today said it will create a diversified portfolio for its next wave of growth that will include areas like solar energy, transportation and water business. Going beyond thermal power, other areas for capitalising on emerging opportunities include defence and aerospace “to increase the share of business from non-coal areas”, BHEL CMD Atul Sobti said at the 53rd Annual General Meeting here. He said BHEL is facing newer challenges being thrown up by forces of change such as climate, technology disruptions, fragile geopolitics, newer regulations, suboptimal investment from private sector and changing energy-mix. The company’s manufacturing capacity for solar cells and modules has been expanded to 105 MW and 226 MW per annum, he said. On building capacity and capability through in-house resources and collaboration with global technology leaders, he said BHEL has recently entered into a pact with Kawasaki Heavy Industries Ltd for the manufacture of stainless steel coaches and bogies for Metro Rail.

Sobti further said: “The recent launch of bullet train project from Mumbai to Ahmedabad and new metro rail projects would bring new business opportunities for us.” He said BHEL has achieved capacity addition of 45,274 MW during the 12th Five Year Plan period (2012-17), surpassing the target of 41,661 MW set by the government by 9 per cent. On the defence sector, he said: “76/62 mm Super Rapid Gun Mount (SRGM) and Auxiliary Control System (ACS) was commissioned on INS Chennai, the third ship of the Kolkata- class stealth guided missile destroyers of the Indian Navy.

“With this, all the three ships of this class have been equipped with BHEL manufactured SRGM and ACS.” He added that despite intense competitive pressure during last fiscal, BHEL booked orders worth Rs 23,489 crore, ending the year with a total order book of Rs 1,05,200 crore for execution in 2017-18 and beyond. “Efforts are being made to convert stranded/slow moving orders into executable ones. Around Rs 12,000 crore of non- executable orders have been converted to executable during the year (2016-17),” he added.

Customer-focused business groups have been created for nuclear, hydro, defence & aerospace, and transportation for strengthening diversification efforts, he said. He further said that a dedicated ‘Project Closure Synergy Group’ has been created to ensure “early closure of project sites, optimise manpower utilisation, resolving outstanding issues with various stakeholders, and realising cash”. The BHEL achieved a carbon footprint avoidance of 14,378 MT CO2 equivalent during 2016-17 by generating 14.82 MU energy through in-house solar power installations. Sobti also told shareholders that the company has recommended issue of bonus shares in the ratio of 1 bonus share for every 2 held.

Read more: Will diversify portfolio for next wave of...

Apple, iPhone, electric cars, electric cars can create disruption,  mobile phone industry, mobile phone giants It’s 10 years since Apple Inc. unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil. (Image: Reuters)

It’s 10 years since Apple Inc. unleashed a surge of innovation that upended the mobile phone industry. Electric cars, with a little help from ride-hailing and self-driving technology, could be about to pull the same trick on Big Oil. The rise of Tesla Inc. and its rivals could be turbo charged by complementary services from Uber Technologies Inc. and Alphabet Inc.’s Waymo unit, just as the iPhone rode the app economy and fast mobile internet to decimate mobile phone giants like Nokia Oyj. The culmination of these technologies — autonomous electric cars available on demand — could transform how people travel and confound predictions that battery-powered vehicles will have a limited impact on oil demand in the coming decades. “Electric cars on their own may not add up to much,” David Eyton, head of technology at London-based oil giant BP Plc, said in an interview. “But when you add in car sharing, ride pooling, the numbers can get significantly greater.” Most forecasters see the shift away from oil in transport as an incremental process guided by slow improvements in the cost and capacity of batteries and progressive tightening of emissions standards. But big economic shifts are rarely that straightforward, said Tim Harford, the economist behind a book and BBC radio series on historic innovations that disrupted the economy.

Systemic Change

“These things are a lot more complicated,” he said. Rather than electric motors gradually replacing internal combustion engines within the existing model, there’s probably going to be “some degree of systemic change.” That’s what happened ten years ago. The iPhone didn’t just offer people a new way to make phone calls; it created an entirely new economy for multibillion-dollar companies like Angry Birds maker Rovio Entertainment Oy or WhatsApp Inc. The fundamental nature of the mobile phone business changed and incumbents like Nokia and BlackBerry Ltd. were replaced by Apple and makers of Android handsets like Samsung Electronics Co. Ltd.

Today, as Elon Musk’s Tesla and established automakers like General Motors Co. are striving to make their electric cars desirable consumer products, companies like Uber and Lyft Inc. are turning transport into an on-demand service and Waymo is testing fully autonomous vehicles on the streets of California and Arizona. Combine all three, for example through an Alphabet investment in Lyft, and you have a new model of transport as a service that would be a cheap compelling alternative to traditional car ownership, according to RethinkX, a think tank that analyzes technology-driven disruption.

One key advantage of electric cars is the lack of mechanical complexity, which makes them more suitable for the heavy use allowed by driverless technology, Francesco Starace, chief executive officer of Enel SpA, Italy’s largest utility, said in an interview. After disassembling General Motors’s Chevrolet Bolt, UBS Group AG concluded it required almost no maintenance, with the electric motor having just three moving parts compared with 133 in a four-cylinder internal combustion engine.

“Competitiveness very much depends on the utilization of the car,” Laszlo Varro, chief economist at the International Energy Agency, said in an interview. The average Uber vehicle covers a third more distance than the typical middle-class family car in Europe, amplifying the benefit of lower running costs to the point that “the oil price at which it makes sense to switch to electric is $30 per barrel lower,” he said.

Uber on Steroids

The total cost of ownership of electric and oil-fueled vehicles will reach parity in 2020 for shared-mobility fleets, five years earlier than for individually-owned vehicles, according to Bloomberg New Energy Finance. Already in London, Uber plans for its UberX service to be hybrid or fully electric by the end of 2019. Its rival Lyft aims to provide at least 1 billion rides a year in autonomous electric vehicles by 2025, saying they can be used much more efficiently than gasoline-powered cars. This combination would be “the Uber model on steroids,” Steven Martin, chief digital officer and vice president of General Electric Co.’s Energy Connections unit, said in an interview. “Once you have complete autonomous operation of a vehicle, then my desire to own one is going to go down and I’ll be more willing to sign up to a subscription service.”

Autonomous Hurdles

The transition to fully autonomous fleets may not match the speed of the smartphone revolution because of the many regulatory, legal, ethical and behavioral hurdles. Self-driving technology should become available in the 2020s, but won’t be widely adopted until 2030, BNEF says. Even so, the shift to electric cars could displace about 8 million barrels a day of oil demand by 2040, more than the 7 million barrels a day Saudi Arabia exports today, the London-based researcher says. That could have a significant impact on oil prices—a drop of 1.7 million barrels a day in global consumption during the 2008-2009 financial crisis caused prices to slump from $146 a barrel to $36.

That doesn’t mean oil giants like BP or Exxon Mobil Corp. are heading for an inevitable Nokia-style downfall. While transport fuels account for the majority of their sales, they also have huge businesses turning crude into chemicals used for everything from plastics to fertilizer. They also pump large volumes of natural gas and generate renewable energy, both of which could benefit from increased electricity demand.

Even if electric vehicles do grow as rapidly as BNEF forecasts, the world currently consumes 95 million barrels a day and other sources of demand will keep growing, said Spencer Dale, BP’s chief economist. The London-based energy giant expects battery-powered cars to reduce oil demand by just 1 million barrels a day by 2035, while also acknowledging the potential for a much larger impact if the industry has an iPhone moment.

The sheer breadth of the potential disruption makes it hard to predict what will happen. When Steve Jobs unveiled the iPhone, few people anticipated that it meant trouble for makers of everything from cameras to chewing gum. “The smartphone and its apps made new business models possible,” said Tony Seba, a Stanford University economist and one of the founders of RethinkX. “The mix of sharing, electric and driverless cars could disrupt everything from parking to insurance, oil demand and retail.”

Read more: How electric cars can create the biggest...

More Articles ...

Translator

Advertisement

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter Join the Journey of Pan India B2C Solar Rooftop Series in Your Cities; visit https://t.co/Ab6kpz9SRT for more deta… https://t.co/Y4oCRboELh
Monday, 14 August 2017 10:24
SolarQuarter SolarRoofs India wishes you a very Happy Independence Day!!! https://t.co/s28rPfG4ui
Monday, 14 August 2017 10:23
SolarQuarter SolarQuarter In Convestion with, >> Mr. KishorShinde, General Manager, Maharashtra Energy Development Agency >> Mr…https://t.co/o5Jcr8j3oB
Monday, 14 August 2017 09:13
SolarQuarter In conversation with Mr.Chris Prengels, CEO,Tiger Power https://t.co/8BqIT9VNh0
Friday, 11 August 2017 09:20
SolarQuarter BePresent With Biggest CXOs of Indian Renewable Energy Sector For DelegateRegistrations, contact: Ms. Pratika Jath…https://t.co/w44NCJOaUu
Tuesday, 08 August 2017 09:41

Advertisement
Advertisement