Renewable energy systems on their own will not be successful in achieving the net-zero targets. New technologies such as carbon capture, utilisation and storage (CCUS) also need to be used, especially in hard-to-decarbonize industries like petroleum, steel and cement. India can use its upcoming G20 Presidency to initiate an informed discussion on CCUS technologies.
The ongoing Russia-Ukraine war has increased global oil prices and highlighted India's vulnerability to price shocks. Green hydrogen is a viable alternative for India to diversify its energy sources and maintain energy security. It will need a concerted effort by government, private companies and start-ups with venture funds focused on green hydrogen.