+
India's Power Demand Soars 8.3% in H1 2024, Coal Remains Dominant
POWER & RENEWABLE ENERGY

India's Power Demand Soars 8.3% in H1 2024, Coal Remains Dominant

In the first half of 2024, power demand in India experienced an 8.3 per cent increase, driven largely by strong economic growth, according to Andre Lambine, Senior Analyst at S&P Global Commodity Insights Asia Power. He noted that coal remains the dominant source in the power generation mix, accounting for 78 per cent of the annual rise in supply.

Lambine emphasized that coal is crucial in addressing India's increasing power needs, and he projected that the higher demand would continue to be primarily met by coal. On the other hand, China is shifting towards non-thermal fuels, with renewables and hydro power growing at a faster rate compared to thermal fuels, which contributed only 25 per cent to the annual increase in power demand.

The overall power demand in the Asia-Pacific region aligns with economic growth, with S&P Global forecasting a 4.2 per cent GDP growth for the region in 2024. This is significantly higher than the anticipated growth rates of 2.3 per cent in North America and 0.8 per cent in the Eurozone.

The increase in electricity demand across major Asian economies, including India and China, is further driven by factors such as severe heatwaves and the global shift towards electrification. The International Energy Agency has also observed that the world's electricity demand is projected to grow at the fastest rate since the post-COVID rebound during 2024-2025.

In the first half of 2024, power demand in India experienced an 8.3 per cent increase, driven largely by strong economic growth, according to Andre Lambine, Senior Analyst at S&P Global Commodity Insights Asia Power. He noted that coal remains the dominant source in the power generation mix, accounting for 78 per cent of the annual rise in supply. Lambine emphasized that coal is crucial in addressing India's increasing power needs, and he projected that the higher demand would continue to be primarily met by coal. On the other hand, China is shifting towards non-thermal fuels, with renewables and hydro power growing at a faster rate compared to thermal fuels, which contributed only 25 per cent to the annual increase in power demand. The overall power demand in the Asia-Pacific region aligns with economic growth, with S&P Global forecasting a 4.2 per cent GDP growth for the region in 2024. This is significantly higher than the anticipated growth rates of 2.3 per cent in North America and 0.8 per cent in the Eurozone. The increase in electricity demand across major Asian economies, including India and China, is further driven by factors such as severe heatwaves and the global shift towards electrification. The International Energy Agency has also observed that the world's electricity demand is projected to grow at the fastest rate since the post-COVID rebound during 2024-2025.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?