In recent years, India’s electricity sector has experienced remarkable growth, driven by rapid economic development and government policies promoting electricity access and renewable energy integration. This expansion is vital for supporting India’s economy and meeting the needs of its growing population.
Traditionally, coal-fired power plants have been a significant source of India’s electricity, providing stability and reliability. However, recognizing the environmental challenges associated with coal, India is shifting towards renewable energy sources like solar and wind. The government’s ambitious targets and supportive policies reflect this shift, aiming to increase the share of renewables in the energy mix.
Hydropower and nuclear energy also contribute to diversifying India’s energy portfolio and enhancing energy security. Despite challenges in integrating renewables into the grid, investments in grid infrastructure and market reforms are underway to ensure stability and efficiency.
India’s commitment to expanding electricity generation and diversifying its energy mix aligns with broader economic and environmental objectives. As India transitions towards cleaner energy sources, it sets an example for other emerging economies.
The report says India’s electricity demand has been steadily increasing, driven by economic growth and rising ownership of air conditioners. Renewables are expected to meet a significant portion of this demand growth, although coal-fired generation is also projected to rise.
Thirty years ago, Africa consumed more electricity per person than India or Southeast Asia. However, India and Southeast Asia have seen significant increases in electricity demand and supply, transforming these regions rapidly.
In 2023, India’s electricity consumption surpassed that of Japan and Korea combined, reflecting its rapid growth. Economic expansion and increased electrification are expected to drive further demand growth.
Coal-fired power generation is expected to rise annually, but renewable generation will accelerate, reaching a 25% share by 2026. India aims to triple its nuclear capacity by 2032, further diversifying its energy sources.
The government’s agenda includes promoting hydropower, nuclear energy, storage solutions, and improving power system efficiency. Policy measures support renewable energy development and energy storage technologies.
Grid and market reforms are underway to support decarbonization efforts. Strengthening interstate transmission systems and expanding cross-border power trade are part of these initiatives.
The IEA Electricity Report 2024, mentioned the introduction of a new grid code and access network regulations that support renewable energy integration and market optimization. Carbon credit trading aims to reduce greenhouse gas emissions, aligning with India’s long-term emission reduction targets. India’s electricity sector is undergoing a significant transformation towards cleaner and more sustainable energy sources. Despite challenges, India’s commitment to renewable energy and energy efficiency demonstrates its leadership in addressing climate change while meeting growing energy demands.
Please view the full report here for more details.
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