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					</table><p>Delhi can transition away from fossil fuels entirely by as early as 2050, researchers at the Lappeenranta-Lahti University of Technology (<a href="https://www.lut.fi/en" target="_blank" rel="noopener">LUT University</a>) in Finland said in its latest study.</p>
<p>The research drew out an “Energy System Transition Model” and studied its feasibility as a pathway across North India with Delhi as a case to achieve 100% renewables by 2050.</p>
<p>Based on the model, the team estimated that the city’s demand can be efficiently met with 100% renewables while achieving net zero emissions by 2050. The researchers said the unique features of the model will enable cost-optimal energy system transition pathways on high levels of geospatial and temporal resolutions.</p>
<p>Currently, cities contribute massively to the growing energy demand with two-thirds of global energy consumption, and by extension are responsible for 70% of global GHG emissions.</p>
<p><strong>Solar can lead Delhi’s transition</strong></p>
<p>The study said that solar energy supply is expected to increase rapidly through the transition and generate about 96% of the demand by 2050, which is already the lowest-cost electricity source.</p>
<div id="attachment_47185" style="width: 714px" class="wp-caption aligncenter"><img aria-describedby="caption-attachment-47185" decoding="async" loading="lazy" class="wp-image-47185 size-full" src="https://mercomindia.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM.jpeg" alt="" width="704" height="504" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM.jpeg 704w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM-300x215.jpeg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM-650x465.jpeg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM-624x447.jpeg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/WhatsApp-Image-2023-01-02-at-5.21.55-PM-600x430.jpeg 600w" sizes="(max-width: 704px) 100vw, 704px" /><p id="caption-attachment-47185" class="wp-caption-text">Solar can meet 96% of Delhi&#8217;s energy demands by 2050 | Source: LUT University</p></div>
<p>Delhi is likely to import low-cost renewable electricity from its neighboring states, as this is the least-cost solution for the entire region. This could be achieved with direct investments, power purchase agreements, or other forms of longer-term contracts which would contribute to equalizing the cost levels.</p>
<p>Additionally, the team pointed out that the opportunities for low-carbon investments in cities are immense and the amplification of these investments can drive energy transitions regionally as well as nationally.</p>
<p>This is expected to lead to a rapid decline the GHG emissions in comparison to the current levels of 825 MtCO2eq/a in 2020, which will be in line with the Paris Agreement target of limiting temperature rise to 1.5°C.</p>
<p>The level of air pollution is simultaneously expected to decline through the transition to near zero by 2050, reducing associated health impacts across the region and avoiding premature mortalities,</p>
<p>Further, the research said that the energy transition across North India can create massive job opportunities, with the total number of direct energy jobs set to increase rapidly from about 1.8 million in 2020 to just over 4.4 million by 2050.</p>
<p><strong>Powering megacities with renewables</strong></p>
<p>According to the UN, urban agglomerations having over 10 million inhabitants are counted as megacities. Most of the megacities are from developing regions, with a majority in China and India.</p>
<p>When it comes to cutting emissions, megacities around the world will have to lead with science-based climate targets including energy pathways for reducing GHG emissions.</p>
<p>The researchers analyzed the development of the energy system (power, heat, transport, and desalination sectors) in the best policy scenario (BPS), in which greenhouse gases (GHG) emissions reach zero by 2050 with the comprehensive adoption of sustainable technologies.</p>
<p>The research relied on several models including electricity generation technologies with renewable energy (RE), fossil, and nuclear technologies, heat generation technologies with renewable and fossil and energy storage technologies with electricity and heat storage technologies.</p>
<p>Further, the models also considered fuel conversion technologies with fuels for energy, mainly in transport and fuel storage technologies along with electricity transmission technologies.</p>
<p>The Ministries of Power and New and Renewable Energy continued with policy reforms in 2022, for a robust green energy market in the country. Read India’s Green Policies in 2022 which <a href="https://mercomindia.com/indias-green-laid-the-groundwork-to-meet-future-targets/" target="_blank" rel="noopener">laid</a> the groundwork to meet future targets.</p>
<p>India’s cumulative installed renewable energy capacity, including large hydro projects, stood at 163.7 GW, accounting for a 40.3% share of the overall power capacity mix at the end of the third quarter (Q3) of the calendar year (CY) 2022, according to data from the Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>), and Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker.</a></p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
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<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Finland-based University Says Delhi Can Achieve 100% Renewables by 2050


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					</table><p>The Middle East and Central Asian countries have collectively pledged to reduce annual greenhouse gas emissions (GHG) in 2030 by 13-21%, a new <a href="https://www.imf.org/en/Home" target="_blank" rel="noopener">IMF</a> study estimates. On assessing the region&#8217;s commitments to reduce GHG emissions, the agency identifies fiscal policy as its best option to realize this goal.</p>
<p>As part of the Paris Agreement, 32 Middle Eastern and Central Asian countries pledged to contain their GHG emissions. To meet these commitments, governments must integrate climate policies into national economic strategies and reduce their per capita emissions by about 7% over the next eight years. The study finds only a few countries have achieved the promised reduction levels while maintaining stable economic growth.</p>
<p>The agency primarily outlines two categories of fiscal policies to curb GHG emissions in these regions:</p>
<ul>
<li>Measures that raise the effective price of fossil fuels</li>
<li>Public investments in renewable energy</li>
</ul>
<p><strong>Ways to Achieve the Target </strong></p>
<p>A gradual removal of fuel subsidies in addition to a phased introduction of a carbon tax of $8 per ton of CO2 emissions in the Middle East, North Africa, Afghanistan, and Pakistan ( MENAP), and $4 per ton in the Caucasus and Central Asia (CCA), could ensure the region’s 2030 mitigation targets.</p>
<p>Successful instances of this are &#8211; Kazakhstan introducing an emissions trading scheme, Jordan phasing out fuel subsidies, and Saudi Arabia recently establishing a regional carbon credit market.</p>
<p>Secondly, IMF finds that public investments in renewable energy of $770 billion in MENAP  and $114 billion in CCA  — more than a fifth of the region’s current gross domestic product — between 2023 and 2030 could achieve the region’s emission reduction targets with fuel subsidies reduced only by two-thirds and without any carbon tax.</p>
<p>Large-scale renewable projects are already taking off in the region. For instance, Qatar developed an 800 MW capacity to meet about a tenth of the country’s peak demand, while Dubai built a 5 GW single-site solar park.</p>
<p><strong>Sharing the economic burden </strong></p>
<p><strong> </strong>Governments in the region face a difficult decision of how to share the economic burden of climate mitigation across generations.</p>
<p>The agency identified raising the effective price of fossil fuels has near-term challenges because it calls on the current generation to bear the burden of the energy transition. While in the long term, such a transition can lead to a cleaner and more energy-efficient economy, in the short term, it could result in a temporary slowdown of economic growth and increased inflation.</p>
<p>Next, while targeted investments in renewable energy sources will create more jobs and faster growth while improving the energy security of oil-importing countries, this approach also has some long-term costs.</p>
<p><strong> </strong>Fuel subsidies will likely distort energy prices, limiting energy efficiency gains and leaving emissions in many parts of the economy largely unabated. Additionally, significant public spending to accelerate the energy transition could weaken fiscal positions and macroeconomic stability, leaving fewer resources available to future generations.</p>
<p>IMF estimates under such conditions, the net government debt in 2030 could rise by 12% of GDP in MENAP and 15% in the CCA, leading future generations on a path of slow long-term growth.</p>
<p>Under present conditions, the agency suggests countries choose an option that best suits their circumstances and the available budget resources. Regardless of choice, early adoption of a fiscal strategy will be key in meeting mitigation pledges on time and minimizing potential economic disruptions.</p>
<p>In July, a new report by Global Energy Monitor revealed that the MENA region <a href="https://mercomindia.com/mena-region-grow-utility-wind-solar-2030/" target="_blank" rel="noopener">planned</a> over 73 GW of new utility-scale solar and wind power projects, a five-fold increase in current capacity that will account for 91% of the Arab’s League 2030 renewable energy target of 80 GW.</p>
<p>Recently, Saudi Aramco, a global energy and chemicals company, <a href="https://mercomindia.com/saudi-aramco-set-up-1-5-billion-sustainability-fund/" target="_blank" rel="noopener">established</a> a $1.5 billion sustainability fund to invest in technology to support a stable and inclusive energy transition that will help to address climate change.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Early Rollout of Fiscal Policy Could Reduce Emissions in the Middle East & Central Asia

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