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An Overview

Energy in India. The time has come to alter the energy balance

India is a country of over 1.3 billion people, around 18% of the world population. 60% of Indians live in rural areas and at least 240 million have no access to electricity. It is one of the fastest growing economies in the world, estimated to grow 8% in the next 15 years. Energy is central to such an expansion in what is expected to become the world’s most populous country.Three words summarize India’s energy policy: availability, access and affordability. The broad vision is to provide energy security for all with safe, clean and convenient energy at the lowest possible cost. Energy use in India has almost doubled since 2000, although per capita consumption is only around a third of the global average. Three-quarters of its energy demand is met by fossil fuels, a share that has been rising as households move away from the use of solid biomass (mainly fuelwood) to liquefied petroleum gas (LPG) for cooking.
Coal has by far been the most important fuel in the national energy mix. In the future, India will continue to rely on it, although it has resolved to do so in a much cleaner and more efficient manner. Coal based power generation contributed most of electricity generation in the country, covering over 50% of the country’s energy needs.

The Era of Renewable: Solar

The growth in demand for clean energy has reached unprecedented levels, and at a rate underestimated by many governments. Solar energy is the dynamic driver of this growth and decisions made now about how to tackle challenges and sustain innovation will shape the future success of the industry and the communities and nations that rely upon it.

Expansion of the industry is fueled by the changing nature of supply and demand, optimised through digitalisation and smart home technology, and shifts in consumer expectations. Their requirement is for greater choice and more comprehensive services that are seamless, intuitive and personalised.

Solar is the fastest growing source of renewable energy and has overtaken the growth of all other forms of power generation. New solar capacity even outstripped the net growth in coal, and although coal is still the largest source of power generation, the IEA states that solar will continue to dominate future growth. Energy from renewable sources now contributes 12% of the world’s electricity supply and is predicted to increase to 30% in 2022.

Drivers of growth

*The reasons behind market growth are interrelated:
Reduced cost of technology

*Government initiatives and policy

*Innovation in solar technology