Decarbonise the Power sector by 2050 - Crucial to limit the temperature less than 1.5°C above pre industrial level

 Decarbonise the Power sector by 2050 - Crucial to limit  the temperature less than 1.5°C above pre industrial level

The power sector is one of the largest contributors to global green house gas emissions and accounted for 30% of CO₂ emissions and mobility industry accounts 30% as on 2022. De-Carbonization  of this sector by 2050 is an ambitious yet crucial goal in combatting climate change and reducing greenhouse gas (GHG) emissions worldwide. Electrification is a key enabler of power sector decarbonisation, which, along with achievement of limiting 1.5°C target above pre industrial level, requires a transition from fossil fuels to renewables to generate electricity. 

 

Under stand the 1.5°C Target 

The 1.5°C target refers to the international objective of limiting the increase in global average temperature to no more than 1.5 degree Celsius above pre-industrial levels. This target was established by the Paris agreement, an international accord signed in 2015 by nearly all countries in the world. The agreement recognises that allowing global temperature to exceed 1.5°C could result in devastating consequences , such as more frequent and intense heatwaves, extreme weather events , rising sea levels and disruptions to ecosystems and biodiversity.  

 

The Consequences of Inaction 

The Consequences of falling to decarbonise the power sector by 2050 are dire and far reaching . If we continue on our current path, temperatures are projected to soar well beyond the 1.5°C target set by the Paris agreement. The consequences of this could be disastrous. 

 

The task of decarbonising the power sector may seem daunting , but it is not impossible. The technology and knowledge to transition to a clean energy future exist today. The Real challenge lies in overcoming political inertia, vested interests, short term thinking and mind set. 

The technical potential of renewable energy technologies far exceeds the current global electricity production. In fact, over the outlook period, most capacity additions are projected to come from renewables. To support renewables’ expansion, a database of suitable power projects should be prepared in this coming decade to build a pipeline of projects in further decades leading up to 2050. In the Planned Energy Scenario, renewable energy capacity expands to 6773 GW by 2030 and 15835 GW by 2050. Renewables’ share in generation scales up from 28% in 2020 to 46% in 2030, and to over 70% in 2050. However, the current plans as foreseen in the Planned Energy Scenario fall well short of limiting the global temperature increase to 1.5°C. The gap between where we need to be and where we are headed is widening every year

 

The Pathway to Climate Sustainable Future :

       The share of renewable energy in the global energy mix would increase from 16% in 2020 to 70% by 2050 

       Electricity would become the main energy carrier, of total final energy consumption by 2050 

       94% of hydrogen would be renewables-based by 2050

       Public transport and fleets shall be 100% Electrical & Green hydrogen fuel based by 2030

 

Investment Gap :

    A cumulative USD 150 trillion is required to realise the 1.5°C target by 2050, averaging over USD 5 trillion in annual terms 

    Renewable energy investment remains concentrated in a limited number of countries and focused on only a few technologies. 

    Public finance and policy should crowd in private capital, but greater geographical and technological diversity of investment requires targeted and scaled-up public contributions. 

The Renewable Energy indicators projected are :

	Indicaters	Current year	2030	2050
RENEBLE ENERGY	Share of Electricity generation for Energy Needs	28%	68%	91%
	Renewable Energy Capacity addition	295 GW/Yr	975GW/Yr	1066GW/Yr
	Annual Solar PV addition	191GW/Yr	551GW/Yr	615GW/Yr
	Annual Wind energy Addition	75GW/Yr	329GW/Yr	335GW/Yr
	Investment needs for  RE generations (USD Billion /Yr)	486	1300	1380
	Investment needs for power grid infra  (USD Billion/Yr	274	605	800

 

 

In conclusion 

The time to act is now. Decarbonising the power sector by 2050 is not a choice; it is a moral imperative. We owe it to future generation to leave behind a world that is not only habitable but thriving . Let us rise to the occasion , as united global community and forge a path towards a sustainable, Carbon neutral future.