Developers, manufacturers, investors and other renewable energy industry stakeholders need to know where the next big market is going to be so that they can adjust their business decisions accordingly.
Since 2003, global consultancy Ernst & Young has released its Country Attractiveness Indices, which gives a numerical ranking to 30 global renewable energy markets by scoring renewable energy investment strategies and resource availability. The indices are updated on a quarterly basis and the most recent report can be found here.
Here is the firm’s assessment of India.
Off-grid Power May Ease Deficit
India is expected to experience a 10% peak power shortage this fiscal year according to a report by the country’s Central Electricity Agency, equivalent to around 15 GW. The gap between energy supply and demand is partly responsible for the massive grid collapse and the world’s largest blackout in July.
The huge power deficit represents a significant opportunity for renewable sources to step in to meet this growing demand for energy, while also increasing the country’s energy security by reducing dependence on coal imports. However, the country’s poor power infrastructure remains one of the largest threats to the ability of alternative energy to fulfil its potential.
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