Friends, today in this article we will know about the scenario of energy and power sector of India. I am going to give information about all this in a very good way. So let’s start.
India’s Energy & Power Sector Outlook
Economically, India’s GDP growth rate in 2008 was 7.1%, making it the second fastest growing country in the world. India ranks sixth in the world in electric power consumption, accounting for about 3.5% of the world’s total.
In the fifty years after independence, the total energy use in the country has seen an increase. There has been more change in non-commercial than commercial sources. During this period, commercial energy use has increased tenfold. Despite all this, per capita energy use in India is very low and to increase it in the future, very rapid growth in commercial energy is required. Increasing domestic production of commercial energy is an important challenge for future development. India will always have energy shortage in this sector and the import of crude oil, petroleum products and coal will continue in the future too.
Solar PV was established in India in 2008. Both the national and state governments announced new policies to support solar PV manufacturing in SEZs (Special Economic Zones) including capital investment and a 20% subsidy.
The first priority of the Indian Government now is to develop various forms of energy and make the best use of them, as well as to make it available at the lowest prices. Energy supply in India comes from various sources such as coal, hydropower, oil and gas, and various forms of non-conventional energy. The Government of India has come up with a new policy in which the availability, security and accessibility of all these sources have been kept in mind.
India ranks third in the world in investment in renewable energy after USA and Germany.
To understand the current energy situation in India and the future of renewable energy market, it is important to know the energy consumption trends, current energy growth, availability of transportation and the equipment being used there.
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