The Indian economy is growing at a tremendous rate. With the development in the industrial sector, people too are aspiring for a better lifestyle. In this regard, the surge in energy demands in the near future is inevitable. According to a report Understanding Energy Challenges in India: Policies, Players, and Issues, published in 2012, India witnessed a significant rise in energy demands in 2009 and was just behind China and the USA. Undoubtedly, the energy landscape of India is continuously expanding. Here we have shared a few key insights about the energy sector in India:
1. The New Policies Scenario or NPS discusses how India will be handling issues such as climate change, energy security and other issues relating to the energy landscape. It has projected that the energy demand in India will grow in the future and will reach 1464 Mtoe by 2035. It is expected to increase by a CAGR or Compound Annual Growth Rate of 3.1% from 2009 to 2035. This is more than double of the total energy demand across the globe.
2. By 2035, India’s share in the global energy demand will grow to 8.6%. In 2009, India’s share in the world energy demand was 5.5%. This growth is projected to come from coal and is expected to triple to a whopping 618 Mtoe in 2035 from 280 Mtoe in 2009. Apart from that, the demand for oil is also expected to grow to 356 Mtoe in 2035 from 159 Mtoe in 2009.
3. In case of natural gas, the energy demand would be 48 Mtoe in 2035 from 5 Mtoe in 2009. On the other hand, the demand for renewable sources of energy will grow to 36 Mtoe from 2 Mtoe. The report predicted that the hydrocarbons will primarily drive the huge energy demands in India.
4. After the economic reforms in 1991, India has witnessed a considerable transformation in its energy mix. One of the most noted changes in the energy mix of India was the shift from biomass to other sources of energy, especially coal. This signifies the rapid urbanisation and economic development of the country. In 2009, coal was the biggest source of primary energy in India (42% share).
These points will help you gain a fair idea of the energy scenario in India. In case you are looking for multifunction energy meter for your industrial facility, then check our products at www.mbcontrol.com/parent-product/satec-multi-function-meters-the-experts-in-energy-management.