The energy demand is growing across all states in India
India’s energy demand is projected to grow across all states in the years to come. Driven mainly by the industrialization and country’s economic development.
However, securing accessibility, affordability and reliability of India’s energy supply will be a key concern for indian consumers. A challenge that will require major investments in both infrastructure and renewable energy production to solve.
India is to say the least, a major force in the global energy economy. The nations energy consumption has more than doubled since 2000, driven upwards by a growing population, which is soon to be the largest in the world.
Sustainability trends on the Indian market
India is aiming to increase its non-fossil energy capacity to 175 gigawatts by 2022 and 500 GW by 2030.
According to The International Energy Agency(IEA); Over 80% of India’s energy needs are currently met by coal, oil and solid biomass. Coal being the single largest fuel in the energy mix.
The country have been investing heavily in solar energy and currently ranks third in the world in terms of the most solar installations, behind China and the United States.
So as the race to net-zero intensifies, combined with rising vehicle ownerships and road transport use. India is presenting attractive investment opportunities for electric vehicle manufacturers.