India lists 13 activities for trading of carbon credits on global platform& others-21

How did solar become the cheapest energy source on the planet?

• The Solar Odyssey traces its roots back to ancient times.
• There is a general perception in today’s world that using solar energy to fulfill our necessities is a contemporary concept, but before civilizations used fossil fuels for heat and electricity, people relied on the power of the sun.
• Sun has been worshipped and regarded as the source of life in many cultures across centuries.
• The prevailing rates show that costs go down 75% every 10 years.
• Most popular examples of these widespread initiatives are the Million Solar roofs in the USA, Har Ghar Solar in India, Energiewende in Germany, etc.
• But its cost-effectiveness has shown a lot of promise, If normal panels cost about 4 to 10 dollars per Sq.ft, perovskite modules cost around 0.25 dollars per Sq.ft.

JSP to set up solar power plant in Raigarh

• Jindal Power Limited (JSP), a Naveen Jindal-owned diversified company with a dominant presence in steel, power, mining and infrastructure sectors, will set up a solar power plant in Chhattisgarh’s Raigarh district.
• JSP would infuse over Rs 400 crore in the project.
• According to a JSP spokesperson, a target has been set to produce 11,14,57,000 KWH units per year from the 84.5 MW solar power plant.
• The MoU was signed by Bhuvanesh Yadav, Secretary, Commerce and Industry on behalf of the Chhattisgarh Government while JSP President Pradeep Tandon represented the company.
• Tandon said that the production of electricity in the country is increasing every year, in such a situation, the use of solar energy is the best solution in the field of energy conservation and electricity conservation. “

India lists 13 activities for trading of carbon credits on global platform

• India has finalised its list of activities to be considered for trading of carbon credits under bilateral/ cooperative approaches in the international carbon market under the mechanism of the Paris Agreement on climate change.

These broad mitigation activities in the list of 13 include renewable energy with storage (only stored component), solar thermal power, off- shore wind, green hydrogen, compressed biogas, emerging mobility solutions like fuel cells and high end technology for energy efficiency.

• It means any entity can earn and accumulate credit through these selected cleaner activities and those credits can be traded on a global platform.
• Under the mechanism, high emitting industries/entities can buy credits from those who earned it through adopting those listed activities.
• The activities will initially be for the first three years and may be updated/revised by the National Designated Authority for the Implementation of the Paris Agreement (NDAIAPA),” said the environment ministry in a statement.