  India, being one of the fastest growing economies of the world, must take a
sustainable path for development. India is responsible for 7 percent of global
CO2 emissions. The electricity sector accounts for nearly 35 percent of
emissions from the country. The switch from fossil fuels to renewable sources
is the key in decarbonizing this sector and is considered as the crucial step
for climate mitigation. This research investigates the potential of renewable
energy sources; wind, solar and hydro. The optimization model developed in this
study analyzes various scenarios for the transition to a sustainable future.
The results show that India aims to achieve 450 GW of installed capacity from
RES is far from a Net Zero future. Results confirm that India has the potential
to meet 100 percent of electricity demand in 2030 from RES including wind,
solar and hydro. Introducing Social Cost of Carbon is a viable option to reduce
emissions in India. However, due to the low cost of coal, high coal taxes do
not lead to reduced emissions.
