Indians will save 2 point 5 trillion dollars from green energy 100 pc new vehicles will be electric by 2035

read on the appBy the year 2047, India will become self-sufficient in the matter of green energy. The biggest benefit of this will be to the consumers. They will get cheap and

clean electricity. 2.5 trillion dollars will be saved by the consumers of the country. This was stated in a report released by the US Department of Energy's Lawrence Berkeley

National Laboratory (Berkeley Lab). According to the study titled Pathways to Atmanirbhar Bharat, released on Wednesday, India's three most energy consuming sectors were

electricity, transport and industry. It found that achieving energy independence ie self-sufficiency would bring significant economic, environmental and energy benefits. This would

result in consumer savings of $2.5 trillion by 2047. It would be possible to reduce fossil fuel imports by $240 billion per year. Targets achieved at lowest cost According to Nikit

Abhyankar, lead author of the study, India has achieved green energy targets at lowest cost. Here are some of the largest lithium reserves in the world. This can directly lead

India towards cost effective energy independence. 100% new vehicles will be electric by 2035 The study also mentions India's target of 500 GW of clean energy generation

by 2030. Thereafter 80% clean grid by 2040 and 90% clean grid by 2047. At the same time, by the year 2035, almost 100% of new vehicles sold could be electric. Green hydrogen even

in heavy industry By 2047, heavy industrial production may also rely primarily on green hydrogen and electrification. In this, 90% of iron and steel, 90% of cement, and

100% of fertilizers will be produced by this change by 2047. Most of the lithium needed to build new electric vehicles and grid-scale battery storage systems (estimated at 2

million tons by 2040) can be produced domestically using newly discovered reserves. Indian industry is expected to move towards clean technologies such as EVs and green steel

manufacturing. India is one of the largest auto and steel exporters in the world. energy demand will quadruple As per the report, India is the third largest energy

consumer in the world. Its energy demand will quadruple in the coming decades. Currently, India has to import 90% of its oil, 80% of industrial coal and 40% of natural gas to meet

its needs. Thus, price and supply volatility in global energy markets puts pressure on India's foreign exchange reserves, resulting in high inflationary impact on the economy.