Business Matters | Why is the rising cost of coal-fired power plants good news for India?
The Hindu
India expects to increase investments in coal-fired power plants to help power economic growth, but the IMF says that by limiting these investments, substantial irreversible fixed costs could be saved.
In March, the IMF put out a note that illustrated why India should quicken its ‘green’ investments.
It said that achieving net zero – which India aims to reach by 2070 – will require adjustments to how people live, work, and move around—and some of these changes will be costly.
First, India expects to increase investments in coal-fired power plants to help power economic growth, but the IMF says that by limiting these investments, substantial irreversible fixed costs could be saved.
Second, early scaling up of renewable energy allows for a more gradual policy adjustment, which may be less politically costly, and for a more continual adoption of new technologies. Costs can also be amortised over longer periods.
What is India’s power generation status, given its climate goals? We take a look at some interesting data points, courtesy the IMF.
Script and presentation: K. Bharat Kumar
Videography: Bijoy Ghosh and Siddharth MC
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