Hovering temperatures and photo voltaic power: How India is dealing with report energy demand

On this episode of the State of the Financial system Podcast, host Rishi Ranjan Kala discusses India’s rising energy demand with Anujesh Dwivedi, Accomplice, Deloitte India, an knowledgeable within the energy utilities and renewables sector. Dwivedi highlights the speedy progress in India’s energy demand, which has been growing by over 5 per cent yearly and noticed a 12-13 per cent rise final 12 months. In Could 2024, India recorded its highest ever peak demand of 246.1 gigawatts, pushed by searing warmth waves throughout northwestern and central India. 

Dwivedi explains that the daytime peak demand is essentially met because of the substantial photo voltaic capability within the nation, whereas the problem lies within the night when solar energy shouldn’t be accessible. He commends the federal government’s efforts in managing this demand via numerous measures, equivalent to mandating coal and gas-based crops to be accessible throughout summer season months, rescheduling plant upkeep, and growing coal manufacturing. These steps have helped be sure that the demand is met regardless of the challenges. 

Renewables, notably photo voltaic power, have performed an important position in managing daytime peak demand. Nevertheless, night peaks nonetheless rely closely on thermal energy. Dwivedi additionally discusses the potential of renewable power mixed with storage options to offer dependable, dispatchable energy. He notes that whereas renewable power tariffs are aggressive, the combination of gas-based energy, particularly if GST is faraway from gasoline, may additional help the ability sector. 

Urbanisation and financial progress are main drivers of accelerating energy demand. Dwivedi emphasises the correlation between improvement and power consumption, predicting that as India’s per capita GDP rises, so will its electrical energy consumption. The dialog concludes with a take a look at the long run impression of electrical automobiles and AI-driven information facilities on energy demand, highlighting the necessity for continued innovation and adaptation within the sector.

( Host : Rishi Ranjan Kala, Producers: Anjana PV and Siddharth Mathew Cherian)  



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