In partnership with NITI Aayog, the International Energy Agency (IEA) today released the first in-depth review of India’s energy policies.
The report highlights the achievements of India’s energy policies and provides recommendations to support the government’s goals of promoting well-functioning energy markets and boosting the deployment of renewables.
With clear goals in place, the country is making great strides towards affordable, secure and cleaner energy for all its citizens. India is working hard to move towards its aspirations of transforming the energy sector. Shri Amitabh Kant, CEO of NITI Aayog
The IEA report congratulates the Indian government on its outstanding achievements in extending citizens’ access to electricity, affordable efficient lighting, and clean cooking in record time through historic schemes like SAUBHAGYA, UJALA, and UJJWALA while pursuing energy market reforms and the swift deployment of renewable technologies. The report highlights the strong growth of renewables in India, which now accounts for almost 23% of the country’s total installed capacity. The review also found that energy efficiency improvements in India avoided 15% of additional energy demand, oil and gas imports, and air pollution as well as 300 million tonnes of CO2 emissions between 2000 and 2018.
India is becoming increasingly influential in global energy trends. The country’s demand for energy is set to double by 2040, and its electricity demand may triple, according to the IEA report. Indian oil consumption is expected to grow faster than that of any other major economy. This makes further improving energy security a key priority for India’s economy, the report says.
India’s energy policy is a global story. India has the largest unified power grid that operates in single frequency. India has moved from scarcity to surplus electricity over the past few years while implementing the largest and the fastest energy access and energy efficiency programmes in the world. Shri R K Singh, Minister for Power and Renewable Energy