Electricity demand from Electric Vehicles to help power utilities earn $11 billion


Electricity demand from Electric Vehicles to help power utilities earn $11 billion

The overall electricity demand from large-scale adoption of electric vehicles (EVs) in India is projected to touch 69.6 terawatt hours by 2030, helping power utilities earn an additional revenue of USD 11 billion, a report said today.

The joint study by Assocham and Ernst & Young LLP added that increasing adoption of EVs across India will be instrumental in transforming the country’s power sector and reduce emissions by 40-50 per cent, helping the country in achieving carbon emission reduction targets.

Moreover, it said, the mass adoption of electric mobility is expected to help the power and utilities sector realise net cost and revenue benefits from both demand and supply side.

“By 2030, EVs are expected to reduce emissions by 40-50 per cent, compared to internal combustion engine vehicles in an aggressive renewable energy scenario,” the study said. Read More

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