Record Growth in Electricity Production Driven by Solar Energy Market Trends
India’s electricity production surged by 15.06% in May, reaching 167.55 billion units compared to 145.61 billion units last year, driven by increased demand during a severe heatwave, according to the Central Electricity Authority.
Significant Increase in Thermal and Renewable Energy
Thermal power, predominantly from coal and gas plants, generated 127.87 billion units, marking a 14.67% increase from last year. On May 30, electricity demand peaked at a record high of 250GW due to the heatwave in North India. The peak power demand is projected to rise to 260GW in 2024-25. With the monsoon advancing, current peak demand stands around 200GW.
Hydropower generation rose by 9.92%, producing 11.62 billion units in May. Renewable energy projects, excluding hydro, generated 22.50 billion units, an 18.34% increase year-over-year. The power ministry has mandated domestic coal-based plants to blend 6% imported coal until September to ensure adequate electricity generation.
Economic Growth Fuels Energy Demand
India’s economic growth rate of 8.2%, the highest among major economies, has significantly boosted power demand due to increased economic activity. Consequently, the government is reconsidering power demand projections to plan for increased generation capacity over the next five years.
The surge in renewable energy production, including significant contributions from solar energy, reflects ongoing investments and advancements in solar technology. This trend aligns with India’s green energy policies aimed at reducing carbon emissions and enhancing energy sustainability.
Source：telanganatoday.com
