Clean tech
Definition and Examples
📌 It refers to any technology or process that reduces environmental impact, pollution, or waste.
📌 Examples of clean tech include solar panels, wind turbines, electric vehicles, and water purification systems.
Challenges
🅾️ Investors are often hesitant to invest in clean tech startups due to the long payback period and high capital costs.
🅾️ Lack of adequate policy support for the clean tech industry.
🅾️ Limited infrastructure to supplement clean tech for examples less EV charging stations, inadequate network of power grid especially in rural areas, etc
🅾️ Affordability and accessibility issues
🅾️ Heavy dependence on fossil fuels because they are cheaper
🅾️ Lack of skilled professionals having expertise in this field
🅾️ Requirement of critical raw earth materials supply
Benefits
✅ Reduced carbon emissions and arrest global warming
✅ Energy security in future because fossil fuels are exhaustible.
✅ Reduced dependence on fossil fuels
✅ Sustainable development
✅ Improve public health due to less pollution
✅ New business avenues
✅ More jobs
Way forward
🤝 Encouraging the growth of startups in the clean tech industry
🤝 Increase spending on R&D
🤝 Create link between academia & industry for faster product development
🤝 Use CSR funding for PPP partnership
🤝 Prepare clean tech promotion policy to avoid uncertainty in investors' mind regarding future of clean tech industry
🤝 Develop supporting infrastructure
🤝 Skill development to generate qualified professionals
🤝 Combine clean tech with conventional sources of energy to increase efficiency.
🤝 International cooperation to ensure supply of critical raw materials for clean tech industry.
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