India’s electricity consumption will increase four times from about 1.1 trillion units to 4 trillion units by 2030.
“Despite massive roll-out of energy efficient schemes, we still see a possible 10 per cent jump in the electricity growth annually for the next 15 or 16 years,” Coal and Power Minister Piyush Goyal said while delivering keynote address at a conference on ‘The Future of Electricity’ in New Delhi on Tuesday. “Indian Electricity sector, to my mind, is possibly the biggest business opportunity the world has to offer today. So India is a bright spot offering a huge trajectory of growth in the electricity consumption going forward,” he added. The fresh demand for power will come from the 230 million people who will get electricity for the first time, the elimination of diesel generation sets because of access to power and from increased economic activity coming from the Make in India campaign, he said. India has set a target of setting up 175 GW of renewable energy generation capacity by 2022, out of which 100 GW is to come from solar.