‘Powering India’s Energy Vision 2030 is a latest report by Arthur D. Little (ADL) study. It says India needs strategic investments of over $300 billion to achieve its clean energy capacity target of 500GW by 2030. With 165GW generation capacity already in place, India is on the right trajectory to meet its goal of having 50% of energy needs through the renewable portfolio.
In order to accelerate India’s power sector growth, private players and governments must synchronise with each other in implementing a holistic transformation. Increased adoption of green energy—particularly green hydrogen with efficient storage solutions, leveraging technologies such as carbon capture, smart meters, smart grids with robust data management systems, and enabling efficient price discovery via power exchanges will shape the future of India’s power sector.
To achieve surplus generation, Arthur D. Little’s research proposes a multifaceted approach involving financial support from the government, policy reforms, judicial reforms and technology integration at the Central, State, and Local levels while targeting the entire value chain. The impetus to indigenous PV cell production, transition to smart grid and increased private participation in distribution are key to unravelling India’s true potential in the power sector.
As per the study, India’s electricity consumption is expected to grow at an annual rate of 5.4% over the next decade, with annual demand touching 2300 BUs by 2030. However, at the current pace, generation will just reach only 2024 BUs by 2030, highlighting the need for reforms in capacity addition. India is all set to be a big player in Green Energy generation and aspires to not only attain its energy security but to also start supplying power to neighbouring nations.
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