Coal Minister Piyush Goyal today said India should strive for 50 per cent of its power generation capacity from renewable sources by 2030 on the back of technological advancements in solar and wind energy.
"With technological advancements in solar power and large turbines in wind energy, the country should strive for 50 per cent generation capacity from renewable sources by 2030," Goyal said while addressing the 7th Indian Energy Congress.
He further said India is the first major country which is fast transitioning into a new era of carbon-free energy for its citizens.
The minister also said the country is set to exceed the target of 175 GW in renewable energy and touch 200 GW by 2022 which "shows the seriousness India attaches to climate change and environment protection."
India, the seventh largest economy in the world, is poised for fast economic growth in the coming years and will rank as the second largest in not-so-distant future, he added.
Earlier in the conference, Oil Minister Dharmendra Pradhan said the power sector must adopt new technologies and innovate to cut transmission and distribution losses as energy consumption in the country is set to see a phenomenal rise in the coming years.
"While the government has accorded top priority to the sector, industry leaders must ensure that all citizens across the country have access to electricity at affordable rates.
This will require substantially increasing the share of renewable energies as well as improving energy efficiencies.
"You cannot stop the technology s aggressive landing.
Digitalisation, Internet of Things, 3-D printing and artificial intelligence will soon mechanise the energy sector.
Industry 4.0 will cause disruption the energy sector as well, like in healthcare and education," said Pradhan.
Gurdeep Singh, Chairman and Managing Director of NTPC Ltd and Member Secretary of World Energy Council India, said the opportunities and challenges arising from Energy 4.0 and energy transition transcend long-established sector boundaries defined by coal, oil and gas sectors.
During the conference, Niti Aayog Vice Chairman Rajiv Kumar invited suggestions from industry leaders as the think- tank embarks to prepare India's integrated energy policy along with a national plan for the manufacturing sector to adopt new technologies like artificial intelligence and Internet of Things (IoT).
"This is an era of pro-sumers producers who are consumers as well and with Industry 4.0, manufacturing is witnessing the biggest disruption ever seen in history. The integration of conventional fuels and renewable energies will determine a whole panorama of future public services," he said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)