Should India’s thrust towards electric mobility fructify, the resultant demand for electricity from this segment may grow 870 times between 2020 and 2030 a joint study done by ASSOCHAM and EY has said.
By 2020, the overall electricity demand from electric vehicles (EVs) in the country is projected at around 79.9 gigawatt hours(GWh) and is expected to reach 69.6 terawatt hours (TWh) by 2030, the study says. This would mean multiple benefits-better utilisation of the grid, extra revenue for power suppliers and significant reduction in both carbon emissions and import bill due to reduction in import of crude oil.
“The overall EV demand is expected to help utilities earn an estimated $11 billion (Rs 71,500 crore) in revenue by 2030,” says the study titled, ‘Electrifying India: building blocks for a sustainable EV ecosystem,’ adding that increasing adoption of EVs across India will be instrumental in transforming the country’s power sector. Read More
Latest posts by businesstoday.in (see all)
- More options for holiday-goers as IRCTC set to launch 5 new tourist trains - March 16, 2019
- NCLAT refuses to stay NCLT nod to ArcelorMittal resolution plan for Essar Steel - March 16, 2019
- Cooking gas, CNG prices may increase in April; here’s why - March 15, 2019