Press Release Summary = In the wake of soaring consumption of electricity by the different segments of the burgeoning economy, India will necessarily need to explore renewal sources of power generation.
Press Release Body = India is one of the main manufacturers and users of energy. Globally, India is presently positioned as the eleventh largest manufacturer of energy, representing roughly 2.4% of the overall energy output per annum. It is also the world's sixth largest energy user, comprising about 3.3% of the overall global energy expenditure per year. In spite of its extensive yearly energy output, Indian Power Sector is a regular importer of energy, because of the huge disparity between oil production and utilization.
Usually energy, especially electricity, has a major contribution in speeding up the economic development of the country. The existing production of per capita electricity in India is around 600 kWh per annum. Ever since 1990s, India's gross domestic product (GDP) has been increasing very rapidly and it is estimated that it will maintain the pace in the next couple of decades. The rise in GDP should be followed by an increase in the expenditure of key energy other than electricity.
The gross electricity production capability of Indian Power Sector is placed at around 111 GW. A key portion of this generated electricity i.e. 78 GW or 70 per cent is thermal energy. Though, this is still not sufficient.
The market research report by RNCOS titled "Indian Power Sector (2006)" clarifies that, within 2004-05, the overall quantity of electricity expended per head in the country was 400 KWh. The industrial sector accounted for about 35.6% of the total expenditure. The domestic segment used up around 24.8% of the electricity. Consumption by the commercial and the agricultural sector stood at 8.1% and 22.9% individually. The normal per capita consumption came to about 355 KWH.
According to the experts at RNCOS, "Along with economic growth and a reduction in the below the poverty level populace, the per capita electricity spending is sure to rise."
The Report on the Indian Power Sector also draws attention the following matters:
-- The aggressive market scenario of the Indian Power Industry. -- The significance of the role of the private players and foreign investments in the Power sector. -- Impact of the political condition, collaborations with private participants, new strategies and reforms in regulating the Oil & Gas sector in India. -- Significance of renewable sources of energy for Power Generation. -- The different prospects and difficulties faced by the Power Industry.
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2022
