The Energy and Resources Institute (TERI) recently released a report that points towards a greener future for Indian power generation. The Institute’s findings pointed to the possibility that no new coal power plants will be necessary after 2024, based on power demand forecasts.
Currently (as of December 2016) India’s power requirement stood at 91.6 BU (Billion Units) out of which only 50 GW of power was generated through renewable sources. TERI, however, estimates that India will require around 1,692 BU by 2022 and well over 3,175 BU by 2030. By 2021-22, renewable energy generation capacity should be anywhere between 125-175 GW at the current rate of growth in the renewable energy sector.
Current investment in the renewable energy sector is low, but this should change as TERI predicts no new investments will be made in coal power generation going forward – reflecting the findings of the government’s draft electricity plan. Current installed and under-construction energy capacity should be enough to meet demand till 2026.