In November 2021, the world gathered in Glasgow, Scotland, for COP 26, the United Nations Climate Change Conference under the backdrop of rising global energy prices. As the pandemic tapered in many parts of the world, increased energy demand has pushed prices up. At COP 26, both the United States and India announced several new initiatives and commitments. From India, we saw a 2070 net-zero greenhouse gas emissions target, putting most of the world's major emitters under such targets. In addition to the net-zero target, India pledged to increase its ambitious renewable energy targets to 500 GW by 2030. From the United States, we saw pledges to reduce methane (a potent greenhouse gas) emissions from natural gas systems through the Global Methane Pledge, and the First Movers Coalition, a coalition of the world's largest companies who will focus on reducing emissions from hard-to-abate sectors like steel and aviation.
A particular focus of this issue is solar energy in the United States and India. Solar will be key to reducing emissions and decarbonizing the energy systems of both countries. We highlight how the United States and India are already two of the world's largest deployers of solar energy , and deployment will increase through ambitious targets. The sector has seen sustained cost decreases for technology and enjoys incentives from the Indian and U.S. governments. However, in both countries, the sector faces challenges from supply chains including tariff barriers on solar technology imports from China, and end-user deployment disincentives, e.g. permitting and finance. A key area of cooperation in solar between the United States and India is the International Solar Alliance, a multilateral organization headquartered in India to promote global solar deployment. Likewise, the U.S. Development Finance Corporation, a U.S. government agency, recently announced a $500 million investment in a solar manufacturing plant in India developed by First Solar, a leading U.S. solar manufacturer.
U.S.-India Energy Monitor by Sadiq on Scribd