Rapid industrialisation driving energy consumption patterns evolution in India

Transitioning to sustainable energy practices demands substantial investment, making incentivisation mechanisms essential. Policies like the proposed green credit system are critical in encouraging individuals and organisations to adopt sustainable technologies.

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India stands at the cusp of a transformative energy evolution.

Ranked third globally in power consumption, following the U.S. and China, the nation is poised to witness a significant surge in energy demand.

With aspirations to become a $7 trillion economy by 2030, every 1 percent increase in GDP is projected to result in a corresponding 0.8 percent rise in power demand. This anticipated growth is accompanied by the need to achieve ambitious sustainability targets, such as the commitment made at COP26 to become net zero by 2070 and reduce the carbon footprint by 20 billion tonnes.

Rapid industrialisation India is undergoing rapid industrialisation and urbanisation, and the energy consumption patterns are changing.

By 2030, nearly 40 percent of India's population is expected to reside in urban areas, resulting in a sharp increase in urban energy demand. India's per capita power consumption is approximately one-third of the global average, but this is set to double by the end of the decade. Meeting this growing demand while adhering to climate commitments presents a dual challenge of scaling up energy generation and integrating sustainability into the energy ecosystem.