Report on Renewable Energy’s Contribution to Sustainable Development Goals: 2024 Analysis

Economic and Environmental Impact Aligned with Global Goals

In 2024, the expansion of renewable energy capacity yielded significant economic and environmental benefits, directly contributing to several Sustainable Development Goals (SDGs). India’s progress, in particular, highlights the tangible outcomes of transitioning to cleaner energy sources.

• SDG 8 (Decent Work and Economic Growth): India avoided an estimated $14.9 billion in fossil fuel costs, redirecting capital towards sustainable economic development. Globally, newly installed renewable capacity in 2024 avoided $57 billion in fuel costs.
• SDG 13 (Climate Action): India’s renewable energy portfolio prevented 410.9 million tonnes of CO₂ emissions, a crucial step in mitigating climate change.
• SDG 3 (Good Health and Well-being): The reduction in fossil fuel combustion resulted in an estimated $31.7 billion in air pollution-related health benefits for India.

Advancements in Affordable and Clean Energy (SDG 7)

The declining cost of renewable technologies is a primary driver for achieving SDG 7. The Levelized Cost of Energy (LCOE) and Total Installed Cost (TIC) for renewables have decreased, making clean energy increasingly competitive against fossil fuels.

Cost Competitiveness Analysis: LCOE (2024)

1. Global Averages (per kWh):
   • Onshore Wind: $0.034
   • Solar Photovoltaic (PV): $0.043
   • Hydropower: $0.057
   • Coal Power: $0.073
2. India’s Competitive LCOE (per kWh):
   • Solar PV: $0.038 (a 91% decrease from 2010 levels)
   • Onshore Wind: $0.048
   • Bioenergy: $0.065

Investment Cost Reduction in India (TIC)

The total installed costs for renewable projects in India saw a significant year-on-year decline, enhancing investment viability and accelerating deployment in line with SDG 7 and SDG 11 (Sustainable Cities and Communities).

• Solar PV (per kW): Decreased from $728 in 2023 to $525 in 2024.
• Onshore Wind (per kW): Decreased from $1237 in 2023 to $1110 in 2024.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

• SDG 7: Affordable and Clean Energy

  The article’s central theme is the expansion and cost-effectiveness of renewable energy sources like solar, wind, and bio-energy in India. It highlights the significant drop in the cost of solar energy and the country’s competitive Levelized Cost of Energy (LCOE), directly aligning with the goal of ensuring access to affordable, reliable, sustainable, and modern energy for all.

• SDG 13: Climate Action

  The article explicitly states that India’s renewable energy capacity helped avoid “410.9 million tonnes of CO₂ emissions.” This directly addresses the core objective of SDG 13, which is to take urgent action to combat climate change and its impacts by reducing greenhouse gas emissions.

• SDG 3: Good Health and Well-being

  The text mentions that India received “$31.7 billion in air pollution-related benefits.” By reducing reliance on fossil fuels, which are a major source of air pollutants, the shift to renewables contributes to cleaner air. This, in turn, reduces the incidence of respiratory and other diseases, connecting directly to the goal of ensuring healthy lives and promoting well-being.

• SDG 8: Decent Work and Economic Growth

  The article highlights significant economic benefits, stating that India “avoided $14.9 billion in fossil fuel costs.” This cost saving represents a form of sustainable economic growth, decoupling economic activity from fossil fuel dependency and improving resource efficiency, which are key aspects of SDG 8.

• SDG 12: Responsible Consumption and Production

  The shift from finite fossil fuels to renewable energy sources is a fundamental change in production patterns. By avoiding fossil fuel use, India is moving towards more sustainable management and efficient use of natural resources, a key principle of SDG 12.

2. What specific targets under those SDGs can be identified based on the article’s content?

1. Target 7.2: Increase the share of renewable energy

   The article is entirely focused on the growth of renewable energy capacity (solar, wind, bio-energy) in India and its increasing competitiveness compared to fossil fuels. The discussion of declining costs for solar PV and onshore wind directly supports the effort to substantially increase the share of renewables in the energy mix.

2. Target 13.2: Integrate climate change measures into national policies

   The quantified reduction of “410.9 million tonnes of CO₂ emissions” is a direct result of a national strategy to promote renewable energy. This demonstrates the integration of climate change mitigation measures into India’s energy and economic planning.

3. Target 3.9: Reduce illnesses from pollution

   The mention of “$31.7 billion in air pollution-related benefits” directly implies progress towards this target. This monetary figure represents the economic value of avoided health costs and productivity losses that would have resulted from air pollution caused by burning fossil fuels.

4. Target 8.4: Improve resource efficiency and decouple growth from environmental degradation

   The article states that India “avoided $14.9 billion in fossil fuel costs.” This is a clear example of improving resource efficiency by using less of a finite, polluting resource (fossil fuels) for economic activity, thereby helping to decouple economic growth from environmental harm.

5. Target 7.a: Promote investment in clean energy technology

   The article details the falling costs of renewable technology in India, such as the “Total Installed Cost (TIC) of solar PV” coming down to “$525 kw in 2024” and the LCOE for solar PV being highly competitive at “$0.038/kWh.” These figures indicate a successful environment for investment and technological advancement in clean energy.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

• Indicator for Target 7.2:

  While the article doesn’t give a percentage for the renewable energy share (Indicator 7.2.1), it provides crucial data points that measure the competitiveness and growth of renewables, such as the Levelized Cost of Energy (LCOE) for various sources: solar PV at “$0.038/kWh,” onshore wind at “$0.048/kWh,” and bioenergy at “$0.065/kWh.” These are direct measures of the affordability and viability of increasing the renewable share.

• Indicator for Target 13.2:

  The article provides a direct measure related to Indicator 13.2.2 (Total greenhouse gas emissions per year). The figure of “410.9 million tonnes of CO₂ emissions” avoided is a quantifiable indicator of the success of climate action policies.

• Indicator for Target 3.9:

  The article provides a proxy indicator for health benefits. While not a direct measure of mortality or illness rates (Indicator 3.9.1), the “$31.7 billion in air pollution-related benefits” serves as a financial indicator of the reduced health burden attributable to cleaner air.

• Indicator for Target 8.4:

  The “$14.9 billion in fossil fuel costs avoided” serves as an indicator of reduced domestic material consumption (related to Indicator 8.4.2). It quantifies the value of the fossil fuel resources that were not consumed, demonstrating improved resource efficiency.

• Indicator for Target 7.a:

  The article provides specific data points that function as indicators of investment and technological progress. The Total Installed Cost (TIC) for solar PV (“$525 kw in 2024”) and onshore wind (“$1110 kw in 2024”) are direct indicators of the falling cost of deploying clean energy infrastructure, which is a key outcome of investment and R&D.

4. Create a table with three columns titled ‘SDGs, Targets and Indicators” to present the findings from analyzing the article.

Source: deccanchronicle.com