India needs to ensure the introduction and promotion of new technologies at an affordable cost to keep its commitment to the Intended Nationally Determined Contributions (INDCs) on climate change, The Energy and Resources Institute (TERI) Director General Ajay Mathur said here on Friday.
"We will need to ensure that new technologies keep flowing in, that their penetration is increased and they are accepted. They reach prices that we are willing to pay. So one of the major challenges is to reduce capital costs, " Mathur said in his address on 'CoP 21: Impact on India' organised by the Bengal Chamber of Commerce and Industry.
Mathur was the spokesperson for the Indian delegation at the UN Climate Change Conference in Paris (CoP 21).
Listing the priorities, Mathur stressed on the creation of markets for balancing electricity.
"As we get more renewables, distribution companies will wonder 'how do I provide electricity when the sun is not shining and wind is not blowing', " Mathur said.
"We need to have what is called as 'balancing power' (balancing electricity) at affordable cost. We need to have markets for balancing electricity, " he said.
The third factor, he said, is bringing in a business model, "to promote more and more efficient technologies to come".