New Delhi, India --- (METERING.COM) --- September 27, 2011 - “Today’s technology provides us with a real opportunity to transform the promise of boundless and clean energy into reality,” says Dr. Farooq Abdullah, India's Minister of New and Renewable Energy.
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.”
India currently relies on coal for about 40 percent of its total energy consumption, oil for about 24 percent, and natural gas for 6 percent, according to the International Energy Agency. But the country is looking beyond fossil fuels to turn around its energy deficit.
India is embracing renewable and by some accounts could be the next hot solar market. And just last week the Wall Street Journal reported that the Indian unit of Spain's big wind turbine manufacturer, Gamesa, received a $2 billion order to build 2,000 MW of wind power projects in India.
A report earlier this year on the top ten smart grid countries by the research firm Innovation Observatory ranked India No. 3 behind the U.S. and China for smart grid investing through 2030. And an analysis by Brad Gammons, IBM's VP of Global Energy and Utility Industry, also puts a positive spin on India's smart grid future. In a piece for the International Business Times, he concluded: "Given the significant inroads in smart grid planning and development India is making to leapfrog other countries, its leadership is one that should be followed."
India’s smart grid policy is an emerging part of its nationwide energy policy. The policy is being jointly developed by a collaborative grouping of central and state governmental bodies and subject matter experts from industry, academia and non-governmental research and development organizations.
For more insights and to network in India’s smart energy sector, attend Smart Energy International India in New Delhi from November 14-16, 2011.
Sources: Smart Grid News.com and The Hindu Times