1. Accelerate nuclear power plant constructions: Streamline approval processes and provide financial support to rapidly construct new nuclear reactors to ramp up nuclear generation capacity. Goal should be to add about 15-20 new large reactors (1000+ MW) by 2030.
2. Expand renewable energy targets: Set more ambitious solar, wind and other renewable targets each year. Provide subsidies and incentives for renewable energy production and storage solutions. Simplify contracting and land/permitting processes.
3. Invest in grid flexibility and storage: Modernize the transmission infrastructure and distribute energy storage solutions across the grid to allow for intermittent renewable energy capacity. This enables reducing coal baseline capacity.
4. Retire old inefficient coal plants: Create retirement targets for old, polluting coal plants and replace this capacity with renewable and nuclear energy. Enforce stricter air and water pollution norms for remaining coal plants.
5. Implement carbon pricing: Set up a carbon trading market or tax regime to incentivize utilities to reduce coal power share and increase investment in clean energy sources. This levels the playing field.
6. Promote energy efficiency: Offer incentives and schemes to improve energy efficiency and conservation across agricultural, industrial and residential consumption. This reduces overall demand and coal power share.
With a coordinated policy push on these measures over the next 7-8 years, the coal power share could be reduced to 50% or lower by 2030 while significantly expanding nuclear and renewable capacity.
No comments:
Post a Comment