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Growth Opportunities in the Indian Electricity Industry, 2024-2035
Rapid Economic Changes and the Need to Decarbonize are Driving Transformational Growth
24-Dec-2024
South Asia, Middle East & North Africa
Market Research
PFNT-01-00-00-00
EG_2024_1230
The study traces the development of the Indian electricity market, providing key forecasts for the Indian power sector. It focuses on renewable energy (RE), new technologies, and future investment destinations in India.
India is the third-largest power producer in the world, behind China and the United States. However, the country has been facing legacy issues in power distribution, with large amounts of power being lost during transmission. This, along with the free power given to the agriculture sector and other consumers, has incurred heavy losses for distribution companies.
This study looks at the measures the government and other bodies are taking to tackle the challenges in the electricity market. It identifies opportunities for the growth of market participants of different sizes. The study also determines areas that will give stiff competition to the power plants in the country. Market trends have been analyzed from 2024 to 2035, with 2023 as the base year.
Author: Manoj Shankar
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on the Indian Electricity Industry
Main Findings
Scope of Analysis
Market Segment Definitions for Power Generation
Market Segment Definitions for Grid Hardware and Battery Energy Storage
Key Competitors
Structure of the Indian Power Market
Structure of the Indian Power Market (continued)
The Timeline of the Power Sector in India
The Continued Expansion of the Free Power Market
The Future Regulatory Landscape
The Expansion of India’s Power Exchanges
Energy Certificates: RECs and ESCerts
OA for the Electricity Market
OA for the Electricity Market (continued)
Growth Drivers
Growth Restraints
Key Trends Shaping the Industry
Strong Growth in Electricity Demand—Per Capita Consumption to Increase from a Low Volume
The Growth of Renewables—Solar to Dominate Capacity Increases
Strong Growth in Electricity Demand—Electricity Generation Will Increase by 5.44% Between 2023 and 2035
Incentives Essential to Overall Renewable Growth
Solar and Wind Dominate New Installations
State Solar Opportunities
State Wind Opportunities
Competitive Landscape
Competitive Landscape (continued)
Preference for Coal Despite Climate Concerns
Coal Capacity Continues to Increase
Coal Opportunities
Economics of Coal
Expansion of T&D Networks
Discoms in Disarray
Discom Losses Mount
Discom Losses Mount (continued)
State Losses
Part of the Solution—Mass Deployment of Smart Metering
Mass Deployment of Smart Metering—Status
Mass Deployment of Smart Metering—250 Million Meters in 8 Years
Mass Deployment of Smart Metering—Main Benefits
Market Dynamics for Energy Storage
Battery Energy Storage Investment
Major Grid-scale Battery Storage Projects in India
Battery Storage Opportunities in India
Battery Storage Opportunities in India (continued)
Battery Storage—Important Companies in India
Growth Opportunity 1: Increased RE Penetration
Growth Opportunity 1: Increased RE Penetration (continued)
Growth Opportunity 2: Increase in Corporate PPAs
Growth Opportunity 2: Increase in Corporate PPAs (continued)
Growth Opportunity 3: Merger and Acquisition Investment Opportunities
Growth Opportunity 3: Merger and Acquisition Investment Opportunities (continued)
Growth Opportunity 4: Value Chain
Growth Opportunity 4: Value Chain (continued)
Growth Opportunity 5: Group Captive Power Plants
Growth Opportunity 5: Group Captive Power Plants (continued)
Abbreviations
Benefits and Impacts of Growth Opportunities
Next Steps
List of Exhibits
List of Exhibits (continued)
Legal Disclaimer
List of Figures
- Market Share of Types of Contracts in the Total Electricity Market, India, 2009–2021
- Total Traded Power, India, 2020–2023
- Total Generated Power, India, 2020–2023
- Electricity Market: Growth Drivers, India, 2024–2035
- Electricity Market: Growth Restraints, India, 2024–2035
- Per Capita Electricity Consumption, Global, 2022
- Power Generation Electricity Generated, India, 2023, 2030, and 2035
- Capacity Additions, India, 2023–2035
- Top States With Solar Installation, India, 2023
- Top States With Wind Installation, India, 2023
- Power Production by Sector, India, 2023
- Top Industrial Houses’ RE Targets, India, 2030 (GW)
- Installed Capacity, India, 2023–2035
- States With The Largest Coal Deposits, India, 2023
- Share of Transmission Line Length by Voltage, India, 2023
- Total T&D Line Circuit, India, 2017, 2020, and 2023
- Total Discom Losses, India, 2019–2023
- Share of Used Power by Sector, India, 2023
- Loss by Power Generators, India, 2023
- Discom Debt by States, India, 2023
- Discom Losses of Large States, India, 2023
- Installation by Agency, India, 2023
- Installed Meters in Vital States, India, 2023
- Electricity Metering Shipments, India, 2022–2032
- Battery Energy Storage Investment, India, 2023, 2030, and 2035
- Large Projects under Construction, India, 2021
- Installed Meters in Important States, India, 2023
- Energy Demand by Applications, India, 2020–2030
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