Today the world is seriously grappling with the problem of climate change. In such a situation, now there is a need to replace the traditional means of energy for production in the industry, towards such resources which emit minimum to minimum or zero carbon emissions. In fact, coal is combusted for steel production.
If coal combustion is replaced by other energy sources, then it also contains the stored energy obtained from coal somewhere. For example, electricity obtained from thermal power sources is used in power based steel plants. In thermal power sources, electricity is produced by combustion of coal.
If the alternative of electricity is to be found in hydrogen energy, then here also we need green hydrogen. Because in the formation of blue hydrogen, gray hydrogen and black hydrogen, carbon emissions are bound to happen. So we have to move towards green hydrogen.
Apart from green hydrogen, solar energy can also be used to produce green steel. However, there is still a need for more research and development for cheap and large-scale energy production from solar energy. The green steel debate has just picked up pace.
The reason for the heat of this debate is the strict rules and regulations regarding steel imports by Europe. In fact, Europe has decided to impose a carbon tax on the products imported into it.
This carbon tax is the value of carbon emitted during the steel production process. Since the environmental rules and regulations in India are a bit weak. Therefore, Indian companies resort to cheap technology for steel production. With the use of this cheap technology, steel becomes cheaper, but in this process, excessive carbon emissions start.
European domestic companies are unable to compete with these cheap steel products. This creates a non-competitive environment in the steel production sector there. Now with the imposition of carbon tax, the price of Indian steel products will also increase. This will not only give opportunities to European companies, but it will also encourage Indian companies to increase production of green steel. Now India needs to improve in this direction. Along with this, it can also play a leadership role in green steel production by developing affordable technology for this.