India has a 10-year window in which no new investments likely in coal, gas or nuclear capacities
Current generation capacity and that being built will be enough to keep India power sufficient till 2026. All new investments in power generation likely to go to solar/battery technology.
The Energy and Resources Institute (TERI) unveiled the findings of its study report, ‘Transitions in the Indian Energy Sector - Macro Level Analysis of Demand and Supply Side Options’. This report was released alongside two others – one by the Electricity Transitions Commission (ETC), and the other by the Indian National Academy of Engineering (INAE).
The reports were released by Piyush Goyal, Minister of State (I/C) for Power, Coal, New and Renewable Energy and Mines, Government of India, as part of a day-long conference organised by TERI on Energy Transitions.
The TERI report indicates that current installed capacity and the capacity under construction would be able to meet demand till about 2026, keeping India power sufficient. The report estimates that no new investments are likely to be made in coal-based power generation in the years prior to that.
The TERI report also estimates that beyond 2023-24, new power generation capacity could be all renewables, based on cost competitiveness of renewables as well as the ability of the grid to absorb large amounts of renewable energy together with battery-based balancing power.
TERI’s demand scenario suggests that the current installed capacity and the capacity under construction and after taking into account retirements, would be able to meet the demand till about 2026, or so. This suggests that there would be no new coal-based capacity investment that would be approved till about for years prior to that.
Between 2014 and 2024, India has a 10-year window. If in this 10 year window, the price of solar and battery reaches the Rs.5/ unit mark, all new capacity additions would be in renewables. In case, this price goal would be achieved, or nearly achieved, by 2023-24, if appropriate infrastructure to absorb large amounts of renewable energy, together with battery-based balancing power, is in place.
Piyush Goyal, Minister for Power, Coal, and Renewable Energy, Government of India, said, “Universal access to electricity is one of the primary aims of the Government, and meeting demand is a major facet of this initiative. We see India becoming the energy capital of the world. “
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