Google– Global Power Demand: Rose by 2.2% in 2023, slightly lower than in 2022.
– Renewable Energy in India: Expected to reach 15% by 2026, driving policy measures for energy storage.
– India’s Initiatives:
– Strengthening interstate transmission.
– Green Energy Corridor Phase-II approved for 13 GW projects in Ladakh.
– Plans to buy 10 GW of power from Nepal in the next decade.
– India’s Electricity Demand: Rose by 7% in 2023, among the fastest-growing.
– Global Trends:
– Wholesale electricity prices declined in 2023.
– Global smart meter investments doubled in 2022.
– Emission Intensity: Expected to decline globally, with the EU, China, and the US leading.
– India’s Position: No substantial drop in wholesale electricity prices in 2023.
Originally published on Economics Times