India’s energy transition investment trends showed a significant shift from renewables to e-mobility, with e-mobility investments rising from 6% in 2017 to 49% in 2024, energy storage investments rising from 1% to 9%, while energy efficiency investments fluctuated around 4%. Emerging technologies like the circular economy and low carbon fuels also received attention, though CCUS investments remain in early stages due to high costs.
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Analysis in the whitepaper shows, under India’s 2070 net zero scenario, the green H2-DRI and electric arc furnace (EAF) route is expected to contribute 13% of the projected 403 MMTPA crude steel output by FY50, growing to 41% of 597 MMTPA by FY70. Green hydrogen demand in the steel sector is expected to grow at a 13% CAGR, reaching 15.15 MMTPA by FY70. In the accelerated net-zero 2050 scenario, H2-DRI steelmaking route shall contribute to 39% of the crude steel production with green hydrogen demand of 9.82 MMTPA by FY50.
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Governments around the world are accelerating their renewables programs to help reduce their reliance on imported energy, as geopolitical tensions and economic uncertainty continue to make this a volatile and unpredictable time. The report looks at key developments within 10 global markets — from the biggest change to German energy policy since 2017 to new US legislation that could be a game changer for its green hydrogen industry.
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