Growing industrialization, urbanization, and rising incomes have led to <keyword id="22654252" type="General" weightage="100" keywordseo="Indias-energy-consumption" source="keywords">India's energy consumption</keyword> rising rapidly. According to a recent report by the India Energy and Climate Centre (IECC), India's energy consumption is expected to increase three to four-fold in the coming decade. The report adds that India is projected to be the largest contributor to additional global energy demand between 2020-2040. In comparison to other industrialized economies, India lags by $1-2 trillion in its <keyword id="22654253" type="General" weightage="20" keywordseo="energy-infrastructure-investment" source="keywords">energy infrastructure investment</keyword>, which is likely to take place in the next 2-3 decades. Per capita electricity consumption in India is much below the global average, but total <keyword id="19913208" type="General" weightage="20" keywordseo="electricity-demand" source="keywords">electricity demand</keyword> is growing at 8-9% per year, and is projected to double by 2030, if compared with demand in 2020. Because of global warming and increased pay-out capacity, electricity demand for cooling appliances is projected to increase six-fold by 2040. The IECC report anticipates that India's energy demand growth is accompanied by a deep reduction in <keyword id="20275471" type="General" weightage="20" keywordseo="clean-energy-technology" source="keywords">clean energy technology</keyword> costs, especially for wind turbines, <keyword id="22654254" type="General" weightage="20" keywordseo="solar-PV-cells" source="keywords">solar PV cells</keyword>, lithium-ion (Li-ion) batteries, and hydrogen electrolysers. India currently has over 130 GW of <keyword id="20959899" type="General" weightage="20" keywordseo="renewable-capacity" source="keywords">renewable capacity</keyword> installed. At the United Nations Climate Change Conference of the Parties (COP-26) in Glasgow in November 2021, Prime Minister Modi announced that India would deploy 500 GW of non-fossil fuel power generation capacity by 2030. In the past five years, India has added 55 GW of renewable capacity, 18 GW higher than <keyword id="20341420" type="General" weightage="20" keywordseo="coal-based-power-plants" source="keywords">coal-based power plants</keyword> (27 GW) during the same duration. In 2020, investment in renewables surpassed investment in fossil fuels for the fifth consecutive year, but there are concerns about the capacity value of <keyword id="21502409" type="General" weightage="20" keywordseo="Renewable-energy-generation" source="keywords">renewable energy generation</keyword>, or whether renewable energy can generate electricity during peak load periods. However, coal still accounts for over 70% of electricity generation in India. The country has some of the largest coal reserves in the world. But renewables are now cost-competitive as opposed to thermal power generation throughout India, even in regions previously considered resource-poor for renewable generation. The report says the cost of co-located solar and storage projects with approximately 2-4 hours of energy storage to meet evening peak demand is projected to be Rs. 3-4/kWh by 2030, which is lower than the variable cost of nearly half (80-100 GW) of India's existing coal capacity. Recent large-scale Round-The-Clock power and storage auctions by the <keyword id="19903557" type="General" weightage="20" keywordseo="solar-energy-corporation-of-india" source="keywords">Solar Energy Corporation of India</keyword> (SECI) and National Thermal Power Corporation (NTPC) have demonstrated the cost-effectiveness of energy storage in India. IECC says that "our analysis has demonstrated that energy efficiency measures could avoid 40-50 GW of additional load during the evening peak hours." The India Energy and Climate Centre has prepared this report in collaboration with key stakeholders in government, regulatory commissions, and the Bureau of Energy Efficiency.

India's energy consumption is expected to rise by 3-4 times over a decade: IECC

New Delhi [India], July 31 (ANI): India may experience significant <keyword id="22612858" type="General" weightage="20" keywordseo="evening-power-shortages" source="Orion">evening power shortages</keyword> by 2027, ranging between 20 and 40 gigawatts (GW), even if all currently under-construction thermal and <keyword id="1129458" type="General" weightage="20" keywordseo="hydroelectric-capacity" source="Orion">hydroelectric capacity</keyword> becomes functional as planned, according to the <keyword id="22612859" type="General" weightage="20" keywordseo="India-Energy-and-Climate-Centre" source="Orion">India Energy and Climate Centre</keyword> (<keyword id="4831244" type="General" weightage="20" keywordseo="IECC" source="Orion">IECC</keyword>). The IECC further said that if <keyword id="159873" type="General" weightage="20" keywordseo="electricity-demand" source="Orion">electricity demand</keyword> continues to grow at an annual rate beyond 6 per cent, India will face evening <keyword id="617663" type="General" weightage="100" keywordseo="power-shortages" source="Orion">power shortages</keyword> by 2027. It observed that India's electricity demand grew by 7 per cent in 2023, significantly outpacing the global average of 2.2 per cent. Between May 2019 and May 2024, India's peak electricity demand surged by 68 GW, from 182 GW to 250 GW, marking an annual growth rate of 6.5 per cent. The country met a record maximum <keyword id="6368114" type="General" weightage="20" keywordseo="power-demand" source="Orion">power demand</keyword> of 250 GW on May 30 this year. The post-COVID period saw an even more dramatic increase in demand, with peak levels jumping by 46 GW in just two years, from 204 GW in May 2022 to 250 GW in May 2024. Interestingly, the report mentioned that during a recent heat wave from May 17 to May 31, 2024, India's power system faced significant stress. Despite having over 140 GW of <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> (RE) capacity (excluding large hydro), only 8-10 GW of RE generation was available during evening peak periods in early May 2024. India's power sector is poised for robust growth in the fiscal year 2025, with expectations of a healthy demand surge at approximately 6.0 per cent this fiscal. The report highlighted the urgent need for policy intervention to avert these shortages. It suggested that deploying storage solutions combined with solar power could mitigate the risk. Evening peaking RE would be critical for increasing deployment by states and could work alongside technology-neutral procurement obligations for utilities. The report also recommended achieving a solar-plus-storage cost target of Rs 3/kWh by 2027, noting that SECI (2024) auctions are already at Rs 3.41/kWh. Additionally, it advised avoiding inefficient thermal investments and focusing on energy arbitrage and ancillary services to ensure a stable power supply.

India to face evening power shortages by 2027 if electricity demand continues to grow, warns IECC

New Delhi, Nov 14 () The fourteen-day India International Trade Fair opened here on Thursday albeit with lesser availability of space this year owing to Pragati Maidan's ongoing make-over.
 Union Transport and MSME Minister Nitin Gadkari inaugurated the fair and suggested that the ITPO (India Trade Promotion Organisation) should explore public-private-partnership model to build 30 to 40 mega exhibition-cum-convention centres across the country.
 "By supporting government as a facilitator we can make atleast 30 to 40 centres like Pragati Maidan in the country. This country needs and the government's capacity is limited, budgetary constraints are there but this activity by supporting some government equity, we can make it economically viable," Gadkari said adding that this type of activity is going to create more employment opportunities.
 Besides, Gadkari highlighted that the World Bank, ADB and KfW are ready to provide a credit line for MSMEs at a low interest cost and, he wants to provide this credit line to the poor and economically backward entrepreneurs in backward areas.
 Organisers of the fair ITPO expressed confidence that the redevelopment of Pragati Maidan into a state-of-the-art integrated exhibition cum convention centre (IECC) shall be completed before the end of next year.
 The ITPO is the nodal agency under the administrative control of the Commerce Ministry entrusted with the redevelopment of Pragati Maidan.
 In his address, ITPO CMD L C Goyal gave an assurance that the IITF 2020 would be five times bigger than the scale on which the fair is being held this year.
 "I am quite confident that before the end of next year would deliver this project (IECC)," Goyal said.
 Several countries, including Australia, Iran, the UK and Vietnam will participate in the 14-days fair.
 The theme for the 39th edition of the fair (November 14-27, 2019) is 'Ease of Doing Business' inspired by the unique achievement of India for rising to the 63rd rank on the World Bank's Ease of Doing Business Index from 142nd rank in year 2014.
 This year the status of 'Partner Country' has been accorded to 'the Islamic Republic of Afghanistan' and 'the Republic of Korea' will be the 'Focus Country'.
 Bihar and Jharkhand will be the focus states in this edition of the fair. Entry tickets for business days per person will be available for Rs 500 and season ticket for Rs 1,800.
 For all visitors during public days (November 19-27, 2019), ticket charges will be Rs 60 (adult) and Rs 40 (child) on working days and on Saturday or Sunday or Public Holiday the tickets will be Rs 120 (adult) and Rs 60 (child). RSN SHW
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India's energy consumption is expected to rise by 3-4 times over a decade: IECC

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India to face evening power shortages by 2027 if electricity demand continues to grow, warns IECC

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India International Trade Fair opens with ease of doing business theme

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