Growth Opportunities in the Indian Electricity Industry, 2024–2035
Rapid Economic Changes and the Need to Decarbonize are Driving Transformational Growth
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.
- Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative 8™
- The Impact of the Top 3 Strategic Imperatives on the Indian Electricity Industry
- Growth Opportunity Analysis
- 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
- 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
- Growth Drivers
- Growth Restraints
- Trend Analysis
- 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
- Power Generation
- 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
- Preference for Coal Despite Climate Concerns
- Coal Capacity Continues to Increase
- Coal Opportunities
- Economics of Coal
- Grid Infrastructure
- Expansion of T&D Networks
- Discoms in Disarray
- Discom Losses Mount
- 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
- Energy Storage
- Market Dynamics for Energy Storage
- Battery Energy Storage Investment
- Major Grid-scale Battery Storage Projects in India
- Battery Storage Opportunities in India
- Battery Storage-Important Companies in India
- Growth Opportunity Universe
- Growth Opportunity 1: Increased RE Penetration
- Growth Opportunity 2: Increase in Corporate PPAs
- Growth Opportunity 3: Merger and Acquisition Investment Opportunities
- Growth Opportunity 4: Value Chain
- Growth Opportunity 5: Group Captive Power Plants
- Appendix
- Abbreviations
- Next Steps
- Benefits and Impacts of Growth Opportunities
- Next Steps
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