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Apple Partners with CleanMax to Power India Operations with Renewable Energy

Explainer: Application Process for ALMM Inclusion and Renewal


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					</table><p>Community solar installations in the U.S. have displayed a downward trend, with a 6% decrease reported in 2022 and a 13% decline during the first quarter of 2023, according to a report jointly published by <a href="https://www.woodmac.com/" target="_blank" rel="noopener">Wood Mackenzie</a> and the Coalition for Community Solar Access (<a href="https://communitysolaraccess.org/" target="_blank" rel="noopener">CCSA</a>).</p>
<p>The decline in numbers was mainly caused by uncertainties in the supply chain over the past year and challenges related to interconnection and siting, which hindered growth in important state markets like Massachusetts and Maine.</p>
<p>However, the report suggests optimism that community solar growth will rebound, starting in 2024 and continuing over the next five years. The sector is on the brink of surpassing 6 GW in 2023.</p>
<p>Wood Mackenzie&#8217;s projections indicate that established markets will expand by an average of 8% annually, and this growth is expected to result in a cumulative capacity of nearly 14 GW by 2028.</p>
<p>It is important to note that this projection doesn&#8217;t include the potential impact of new programs, which could lead to even greater growth.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-57302 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5.png" alt="" width="793" height="472" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5.png 793w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5-300x179.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5-768x457.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5-650x387.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5-624x371.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/08/Picture1-5-600x357.png 600w" sizes="(max-width: 793px) 100vw, 793px" /></p>
<p>Caitlin Connelly, a research analyst at Wood Mackenzie, stated that the projected growth in the near term is propelled by the ongoing success of programs in New York and Illinois and positive policy updates in Maryland, Minnesota, and New Jersey.</p>
<p>Additionally, California&#8217;s newly proposed program could potentially contribute to 20% of Wood Mackenzie&#8217;s national projections from 2024 to 2028.</p>
<p>Regarding the Inflation Reduction Act (IRA), recent guidance from the U.S. Internal Revenue Service concerning investment tax credit bonus adders indicates that qualifying for multiple adders will be challenging.</p>
<p>The report suggests that community solar developers will likely prioritize qualifying for the low-income community adder among the three available.</p>
<p>The $27 billion Greenhouse Gas Reduction Fund (<a href="https://www.epa.gov/greenhouse-gas-reduction-fund" target="_blank" rel="noopener">GGRF</a>) presents fresh opportunities for community solar.</p>
<p>The U.S. Environmental Protection Agency&#8217;s &#8216;Solar for All&#8217; fund within the GGRF is particularly advantageous for community solar, offering up to $7 billion to support establishing and expanding community solar programs, focusing on aiding low-income communities.</p>
<p>Matt Hargarten, VP of Campaigns at CCSA, noted that community solar&#8217;s growth trajectory remains promising, with capacity projected to more than double over the next five years in existing state markets alone.</p>
<p>Hargarten emphasized that these projections don&#8217;t account for potential new states enacting community solar laws and the substantial federal grants expected to be allocated to states to enhance community solar access.</p>
<p>Hargarten emphasized the potential for substantial growth if regulators and legislators continue to support the initiative.</p>
<p>According to U.S. Solar Market Insight Q2 2023, released jointly by the Solar Energy Industries Association (SEIA) and Wood Mackenzie, the solar installations in the U.S. <a href="https://www.mercomindia.com/in-best-quarter-ever-for-grow-47-yoy-to-6-1-gw" target="_blank" rel="noopener">grew</a> 47% year-over-year to 6.1 GW during the first quarter of 2023, recording the best initial quarter for the country’s solar sector in terms of new installations.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Despite Headwinds, US Community Solar Sector Poised to Surpass 6 GW in 2023


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					</table><p><a href="https://www.mercomindia.com/juniper-evergreen-sjvn-blupine-win-500-mw-wind" target="_blank" rel="noopener"><strong>Juniper Green Energy, Evergreen Renewables, SJVN Green Energy, and Solarcraft Power India (Blupine Energy) emerged winners in Gujarat Urja Vikas Nigam’s auction</strong></a> to supply power from 500 MW of grid-connected wind projects (Phase V). Juniper Green Energy won 70 MW by quoting ₹3.11 (~$0.038)/kWh. Evergreen Renewables bagged 30 MW by quoting ₹3.17 (~$0.039)/kWh, and SJVN Green Energy 100 MW at ₹3.17 (~$0.039)/kWh.   SJVN won 100 MW under the bucket-filling method by quoting ₹3.17 (~$0.039)/kWh.</p>
<p><a href="https://www.mercomindia.com/solar-capacity-rose-q1-23" target="_blank" rel="noopener"><strong>Solar power accounted for 16% of the total installed power capacity and 38% of the total installed renewable capacity in the first quarter (Q1) of the financial year 2023,</strong></a> up from 13.2% and 34% year-on-year, respectively. India’s installed renewable energy capacity, including large hydro projects, stood at 170.32 GW, accounting for a 41% share of the overall power capacity mix at the end of Q1 of the calendar year 2023.</p>
<p><a href="https://www.mercomindia.com/cea-solar-capacity-surpass-thermal-2030" target="_blank" rel="noopener"><strong>The Central Electricity Authority (CEA) has estimated that India’s solar capacity at 292.6 GW will surpass the thermal generation capacity of 276.5 GW (251.7 GW of coal and 24.8 GW of gas)</strong></a> by the financial year (FY) 2029-30. The Authority released the estimates in a report on the optimal generation capacity mix for the country. It said that thermal installed capacity is expected to decrease to 35.5% of the total installed capacity by FY30 from 59% now. Meanwhile, renewable energy installed capacity is projected to increase to 62.4% of the total installed capacity, up from 41%.</p>
<p><a href="https://www.mercomindia.com/haryana-regulator-sets-aside-discoms-levy-green-open-access" target="_blank" rel="noopener"><strong>The Haryana Electricity Regulatory Commission ruled that distribution companies will not be allowed to impose reliability charges on green open access consumers</strong></a> as there is no defined clause in the Green Energy Open Access Regulations, 2023. Distributed Solar Power Association, Merino Industries, and Garg Spinning Mills had filed a petition seeking amendment in the Renewable Energy Regulations 2021 to ensure it is consistent with the Ministry of Power’s Green Energy Open Access Regulations 2022.</p>
<p><a href="https://www.mercomindia.com/tata-powers-rooftop-solar-business-doubles-in-q4" target="_blank" rel="noopener"><strong>Tata Power’s profit after tax rose 48% YoY to ₹9.39 billion (~$115 million) for Q4 of FY 23,</strong></a> mainly driven by higher sales across DISCOMs and higher renewable capacity addition. The company posted a growth of 6% YoY in revenue, which came in at ₹128 billion (~$1.5 billion) during the quarter. The company’s earnings before interest, tax, depreciation, and amortization increased by 38% YoY to ₹31 billion (~$380 million).</p>
<p><a href="https://www.mercomindia.com/ev-startup-blusmart-funding-to-strengthen-operations" target="_blank" rel="noopener"><strong>BluSmart Mobility, an electric vehicle ride-hailing service and charging infrastructure operator, has secured $42 million in its most recent funding round held last month.</strong></a> The company has witnessed 3x growth in its monthly revenue over the last three quarters, and it plans to use the latest funding to scale its operations further and penetrate deeper into mega-cities.</p>
<p><a href="https://www.mercomindia.com/longis-q1-net-profit-higher-solar-module-shipments" target="_blank" rel="noopener"><strong>China-based solar module manufacturing company LONGi Green Energy Technology has reported a net profit of RMB3.64 billion (~$526.79 million) in Q1 FY23, an increase of nearly 37% YoY.</strong></a> The growth in net profit was based on increased wafer, cell, and module shipments. The cell and module shipments increased by 78% YoY to 12.6 GW at the end of the January to March period. The wafer shipments jumped nearly 30% YoY to 23.8 GW.</p>
<p><a href="https://www.mercomindia.com/cerc-approves-iancillary-services-segment-power-exchanges" target="_blank" rel="noopener"><strong>The Central Electricity Regulatory Commission has approved the introduction of the Tertiary Reserve Ancillary Services (TRAS) market segment on all three power exchanges.</strong></a> TRAS are frequency control ancillary service capacities that keep the grid frequency in the designated range. It comprises qualified power plants, energy storage systems, and interruptible loads readily available for dispatch to restore the secondary reserve and cover variations of renewable energy generations.</p>
<p><a href="https://www.mercomindia.com/india-needs-to-adopt-taxation-to-meet-climate-objectives" target="_blank" rel="noopener"><strong>India must establish a comprehensive carbon pricing mechanism in line with current international standards and implement a carbon tax to accelerate the growth of green finance</strong></a> to achieve the climate objectives, a report by the Department of Economic and Policy Research said. The ‘Report on Currency and Finance 2022-23’ said that a carbon tax might require supplementary redistributive policies due to its potentially disproportionate impact on vulnerable populations.</p>
<p><a href="https://www.mercomindia.com/massachusetts-offshore-wind-auction" target="_blank" rel="noopener"><strong>The Massachusetts administration has proposed to procure up to 3.6 GW of offshore wind power in its fourth auction.</strong></a> The state’s Department of Energy Resources and electric distribution companies have jointly submitted a request to approve the draft request for proposals to the Department of Public Utilities. If approved, the draft RfP will invite submittals for offshore wind generation to procure up to 3,600 MW, representing a quarter of the state’s annual electricity demand.</p>
<p><a href="https://www.mercomindia.com/azure-power-new-ceo-and-cfo-appointments" target="_blank" rel="noopener"><strong>Azure Power, a renewable energy company, appointed a new Chief Executive Officer (CEO) and Group Chief Financial Officer.</strong></a> The new appointments come on the heels of significant changes in the company’s top management in the past year. Sunil Gupta will take over as the new CEO and Managing Director of Azure Power India, effective July 10, 2023. Gupta will replace Rupesh Agrawal, who is leaving to pursue other opportunities.</p>
<p><a href="https://www.mercomindia.com/bayer-renewable-energy-cat-creek" target="_blank" rel="noopener"><strong>Pharmaceutical and biotechnology company Bayer and independent power producer Cat Creek Energy have inked a long-term renewable energy credit purchase agreement</strong></a> to fulfill Bayer’s renewable electricity needs. The pact involves Cat Creek Energy building multiple renewable energy resources and storage facilities in Idaho, United States, to generate 1.4 TWh of clean electricity annually. Bayer aims to become climate neutral in its operations in 2030.</p>
<p><a href="https://www.mercomindia.com/energy-storage-firm-stems-q1-23-revenue" target="_blank" rel="noopener"><strong>Smart energy storage company, Stem’s revenue increased 63% YoY to $67 million in Q1 of FY 2023</strong></a>, driven by higher hardware revenue from Front-of-the-Meter and Behind-the-Meter partnership agreements. However, the company’s net loss doubled to $45 million in January-March, compared to the loss of $22 million YoY, mainly due to the deferred tax liability on the acquired intangibles of AlsoEnergy.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Daily News Wrap-Up: GUVNL Declares Winners of 500 MW Wind Auction


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					</table><p>The <a href="https://www.mass.gov/" target="_blank" rel="noopener">Massachusetts administration</a> has proposed to procure up to 3.6 GW of offshore wind power in its fourth auction.</p>
<p>The state&#8217;s Department of Energy Resources and electric distribution companies have jointly submitted a request to approve the draft request for proposals (RfP) to the Department of Public Utilities.</p>
<p>If approved, the draft RfP will invite submittals for offshore wind generation to procure up to 3,600 MW, representing a quarter of the state&#8217;s annual electricity demand. This represents a significant increase from the previous procurement, which sought approximately 1.6 GW of offshore wind.</p>
<p>Massachusetts already has 3.2 GW of offshore wind capacity under contract, including the Commonwealth Wind, Mayflower Wind, and Vineyard Wind 1 projects. This includes the Vineyard Wind 1, Commonwealth, and Mayflower wind projects.</p>
<p>The House of Representatives of Massachusetts passed a bill setting an offshore wind capacity target of 5.6 GW by 2027 last March.</p>
<p>The U.S. <a href="https://www.mercomindia.com/us-strategy-offshore-wind-2030" target="_blank" rel="noopener">targets</a> 30 GW of offshore wind capacity by 2030.</p>
<p>Governor Maura Healey said the proposed offshore wind procurement would be the biggest in the region&#8217;s history.</p>
<p>The draft RfP proposes evaluating bids based on direct and indirect costs and benefits, environmental and socioeconomic impacts from siting, and diversity, equity, and inclusion plans.</p>
<p>Unlike in previous auctions, this one clarifies the weight given to robust economic development proposals that support minority- and women-owned businesses and support for low-income workers, workers of color, and workers from impacted environmental justice communities.</p>
<p>The proposed tender also allows for flexibility in proposals to account for challenges posed by inflation and other macroeconomic trends.</p>
<p>The draft RfP includes a timeline wherein bids are due by January 31, 2024.</p>
<p>Bids can range from 400 MW to 2.4 GW, and bidders must detail how they would use tax credits.</p>
<p>Last October, the U.S. government said it would hold a <a href="https://mercomindia.com/us-to-lease-out-california-coast-offshore-wind-projects/" target="_blank" rel="noopener">lease</a> sale for areas off the West Coast for wind projects critical to achieving the administration&#8217;s offshore wind energy goals of 30 GW by 2030 and a floating offshore wind energy target of 15 GW by 2035.</p>
<p>According to the U.S. National Renewable Energy Laboratory, the country needs to <a href="https://mercomindia.com/us-needs-to-deploy-90-gw-solar-150-gw-wind-capacity-annually-to-decarbonize-electric-grid/" target="_blank" rel="noopener">deploy</a> 70–150 GW of wind energy and 40–90 GW of solar every year until 2030 to decarbonize America&#8217;s power sector by 2035.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/arjun-joshi/" class="vcard author" rel="author"><span class="fn">Arjun Joshi</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Arjun Joshi,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Arjun-Joshi-1.png" width="86" height="102" /><a href="https://mercomindia.com/author/arjun-joshi/" target="_blank" rel="noopener"><strong style="color: #00b451">Arjun Joshi</strong> </a>is a staff reporter at Mercom India. Before joining Mercom, he worked as a technical writer for enterprise resource software companies based in India and abroad. He holds a bachelor’s degree in Journalism, Psychology, and Optional English from Garden City University, Bangalore. <a href="https://mercomindia.com/author/arjun-joshi" target="_blank" rel="noopener">More articles from Arjun Joshi.</a></p>
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Massachusetts to Buy 3.6 GW of Offshore Wind in Auction

<p>A recent report by the Massachusetts Institute of Technology&#8217;s Energy Initiative (<a href="https://energy.mit.edu/" target="_blank" rel="noopener">MITEI</a>) has studied the role of energy storage technologies with variable renewable energy resources to establish deep decarbonized electricity systems by 2050 efficiently.</p>
<p>The report titled &#8216;Future of Energy Storage&#8217; suggests diverting government investments in analytical tools to plan, operate, and regulate electricity systems. It focuses on emerging markets and developing economies (EMDE) like India, where electricity demand is rapidly growing. The report points out that EMDEs must figure bandwidth for storage technologies to complement the power systems, including electricity generation, transmission, and demand response.</p>
<p>The report points out the many existing power plants in the U.S. which were shut down could be converted into essential energy storage facilities by replacing their fossil fuel boilers with thermal storage and new steam generators.</p>
<p><strong>Energy storage systems</strong></p>
<p>According to the findings in the report, the stored energy can make deep decarbonization of reliable electric power systems affordable. Battery storage would also help India and other EMDE nations that rely on coal for power generation and lack access to low-cost gas to decarbonize grids.</p>
<p>The focus of the study is centered on four types of significant energy storage technologies — electrochemical, thermal, chemical, and mechanical. The study found that electrochemical storage systems, including diverse battery variants, have enhanced energy density than mechanical and thermal storage systems but have a lower density than chemical systems.</p>
<p>For instance, lithium-ion batteries have high energy and power density with a higher roundtrip efficiency. Such energy-friendly properties of Li-ion batteries have made them the best suitable solution for electric vehicles and are also used in short-duration (4-hours) electricity system storage.</p>
<p>The study recommended the reuse of steam turbines at existing power plants and adding thermal storage and new steam generators to substitute for boilers that operate on fossil fuels. The focus is on a near-term thermal energy storage mechanism to reduce the cost of converting heat to electricity.</p>
<p style="text-align: center;"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-35372" src="https://mercomindia.com/wp-content/uploads/2022/05/MIT-Grid-Electricity.png" alt="MIT Grid Electricity" width="528" height="366" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/MIT-Grid-Electricity.png 528w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/MIT-Grid-Electricity-300x208.png 300w" sizes="(max-width: 528px) 100vw, 528px" /></p>
<h6 style="text-align: center;">Source: MIT</h6>
<p>Currently, many developing economies produce, transport, and trade hydrogen as a feedstock for industrial processes. Water-electrolysis is one way to produce low-carbon hydrogen using low-carbon grid electricity, which can support the power sector&#8217;s decarbonization. The study classifies hydrogen as the prominent chemical energy storage.</p>
<p><strong>Power consumption in India from ACs and EVs</strong></p>
<p>The study focuses on supply-constrained conditions prevalent in some parts of India, where off-grid electrification systems have attracted interest from private developers and development financing institutions like the World Bank.</p>
<p>According to the International Energy Agency (<a href="https://www.iea.org/" target="_blank" rel="noopener">IEA</a>), electricity load, driven by the adoption of energy-intensive appliances like air conditioners accompanied by electrification of transport services, is very likely to grow faster than the total energy demand in India. The IEA predicts that growth-driven energy consumption could result in India&#8217;s final energy use being 81% greater in 2040 than in 2019.</p>
<p style="text-align: center;"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-35373" src="https://mercomindia.com/wp-content/uploads/2022/05/India-Regional-Electricity-Generation-Capacity.png" alt="India Regional Electricity Generation Capacity" width="546" height="378" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/India-Regional-Electricity-Generation-Capacity.png 546w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/05/India-Regional-Electricity-Generation-Capacity-300x208.png 300w" sizes="(max-width: 546px) 100vw, 546px" /></p>
<h6 style="text-align: center;">Source: MIT</h6>
<p>The study categorizes India as a demand-driven country where understanding demand growth and patterns in future electricity use is crucial to storage use cases. For instance, the VRE capital costs in India are 50-70% lower than in the United States due to many regional factors, including cheap labor.</p>
<p>The study analyzed the storage use cases in India using demand-side modeling. The analysis distinguished between established electricity end uses in India, and emerging end uses such as AC units and electric vehicles (EV). The demand-side model used AC sales projections in India by unit type based on size.</p>
<p>The study considered a baseline scenario with electricity sales projections based on currently available AC units and a high-efficiency scenario that assumes preferential adoption of efficient AC units. As per IEA, the sales-weighted average SEER for AC units in India was 3, while the global average stood at 4.</p>
<p>While central AC systems using efficiency measures such as variable refrigeration are common in America, the Indian markets are occupied mainly by cheaper but less efficient split units. The model used NITI Aayog&#8217;s estimates from 2018 for future EV sales and the government targets to address the EV charging demand in India.</p>
<p>The study projects the electricity demand from EV charging to be relatively modest compared to the AC in India, both in annual and peak consumption. The findings contrast with projections for developed economies like the United States and Europe, where the growth in electricity demand is primarily expected from EV charging, with consequences for long-term grid evolution.</p>
<p>Energy storage combined with variable renewable energy resources is one of the most promising solutions for the Indian power sector. Recently, Union Power Minister R K Singh <a href="https://mercomindia.com/daily-news-wrap-up-indias-power-demand/" target="_blank" rel="noopener">informed</a> Parliament that India would likely require around 1,650 billion units of power, and the peak power demand will reach about 389 MW in 2022-23.</p>
<p>Another report by the World Bank published in 2018 <a href="https://mercomindia.com/electricity-demand-india-triple-2018-2040/" target="_blank" rel="noopener">projected</a> that India&#8217;s total installed power generation capacity had increased from 154.7 GW in 2007 to 345.5 GW in 2018, making it the third-largest electricity producer globally.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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