New Delhi, India — (METERING.COM) — October 3, 2011 – Research and consultancy services organization ZPRYME in its latest report predicts that India’s smart grid market will touch $1.9 billion by 2015.
The Indian government has embarked on $900 billion investment in electrical infrastructure by 2020 that includes building new transmission and distribution lines and power generation plants. The research further mentions that the basic electric infrastructure market will reach to $5.9 billion in the year of 2015. At present, the smart grid market in India is $1.1 billion and 16.3 percent CAGR growth is forecast between 2011 and 2015.
Recently, P. Uma Shankar the Secretary of Power Ministry India said “Smart grid is not a luxury, but a necessity for India.”
According to Secretary Uma Shankar, India’s smart grid will be based on six guiding principles:
- Based on an Indian model and will be indigenous
- Focused towards power shortages
- Prevents theft and other losses
- Provides power in rural areas
- Development of alternative power sources
- Affordable and enables sustainable production of power.
As one of the world’s fastest growing economies, India’s incredible growth has created an intense appetite for energy that the country is hard pressed to meet. Blackouts are common in many parts of the country and large industrial operations will often build their own power plants to ensure a reliable supply of electricity. In fact, a Research and Markets report suggests India is “steadily moving towards a stressful period of energy crisis.”
Although, the smart grid in India has huge growth potential, there are numerous challenges confronting the modernization of the grid. The peak demand is outstripping the supply by 7 to 11 percent.
ZPRYME predicts demand to grow 6 percent annually from 885 billion kWh to 1147 billion kWh between 2010 to 2015.
Lean more about the emerging market of smart grid in India at the Smart Energy International India conference and exhibition taking place November 14-16 in New Delhi.
(Sources: The Hindu Times, Smart Grid for India)