IEA: Bioenergy Key to India's Energy Independence and Sustainability
The International Energy Agency (IEA) has released its report 'Bioenergy: Transitioning to a Sustainable Tomorrow' in 2023, highlighting the potential of bioenergy to drive India's energy independence and environmental sustainability.
Bioenergy, derived from organic materials, can generate transportation fuels, heat, electricity, and more. This renewable energy source holds promise for India, which currently imports 83.6% of its natural gas and 47.2% of its crude oil, despite being home to nearly 18% of the world's population.
Purified biogas, or compressed biogas (CBG), can replace compressed natural gas (CNG), enhancing energy security. The bioenergy sector's goal is to reduce fossil fuel dependence and mitigate climate change impacts. Bioenergy can be produced in various forms, including biofuels, biogas, and biomass.
The Indian biogas market is projected to grow from $1.47 billion in 2022 to $2.25 billion in 2029, at a CAGR of 6.3%. The government aims to make India carbon neutral by 2070 and cut emission intensity by 45% of 2005 levels by 2030. Investment in R&D is crucial to make bioenergy more efficient, cost-effective, and scalable. Expansion of bioenergy production is needed to meet the rising demand for renewable energy.
The IEA's report underscores the significance of bioenergy in India's energy transition. With the potential to reduce fossil fuel imports and combat environmental degradation, bioenergy can play a pivotal role in India's sustainable future.
