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By 2030, Fuel Costs From Mobility Sector Could Be Reduced By 64%: James Newcomb
In February, 75 senior representatives from the government of India, the private sector, and the civil society developed ideas to transform India’s mobility sector
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In February, 75 senior representatives from the government of India, the private sector, and the civil society developed ideas to transform India’s mobility sector. Later, in May, India’s premier national policy think tank, the National Institution for Transforming India (NITI Aayog), and Rocky Mountain Institute (RMI), a global non-profit organization, focused on driving the efficient and restorative use of resources, presented specific and actionable solutions to transform India’s mobility sector.
This work is authored by RMI and NITI Aayog, but is based on the thoughts of about 75 experts from government and civil society across India to develop a set of recommendations on how to transform India’s mobility system.
This is a big piece of the potential solution. Our estimates are that India could save a gigaton of carbon emissions, between now and 2030 from the transition that we described, to electrified shared transportation. So, it’s an environmental solution that builds an infrastructure for the future and very much a sustainable one. The other piece of that which is important is the storing that’s connected to the electricity grid. By having more batteries plugged into the grid, the grid will be more stable and more able to integrate high shares of variable renewables.
If you only look at the fuel cost, for example, we estimate that between now and 2030, fuel costs from this sector could be reduced by 64 per cent. There are additional cost reductions that will come over time. Electric vehicles operation cost are lower than those for conventional vehicles. They require less maintenance. So, there are a number of dimensions of saving; they typically cost more upfront, but wherever you can look at the levelized cost, the full cost over time, electric vehicles, the technology is evolving rapidly and they will be cheaper on a life-cycle basis.
India’s very well positioned to make this transition. As I mentioned, part of it has to do with the fact that India is building much of the modern infrastructure for its cities now for the first time. So, relative to China, India is less committed to the old paradigm. China has invested heavily in the development of super highways and despite that, it has suffered massive traffic jams and problems from congestion. India can leapfrog some of those challenges by going to electric sooner and by going to systems that put more people in the same number of vehicles.