Transformation Of Retail Energy Market India
How digitisation, decentralisation and decarbonisation promise to transform the retail energy market?
2017 saw a rise in the contribution of renewables to India’s energy sector. As of October 2017, wind energy dominates with 33 Gigawatt (GW) of installed operational capacity, followed by 15.5 GW of solar, 4.4 GW of small hydro and 8 GW of bio-power. The total adds up to 61 GW. While significant progress has been made, a lot needs to be done to meet the government’s ambitious 175 GW renewable energy capacity target for 2022. More than $100 billion investment is needed to support India’s renewable energy goals over the next 3-4 years. A major portion of this money comes in from international markets.
Every segment of the society, particularly the middle class, has huge expectations from the upcoming Budget for the year 2018-19 as the finance ministry is contemplating raising the personal tax exemption limits and tweaking the tax slabs. Last year saw the implementation of the Goods and Services Tax (GST) which has had varying impact on different industries. This will also be the last regular Budget of the NDA government.All in all, there is a positive outlook for the Energy & Utilities sectors. India is set for a period of rapid, sustained growth in energy demand due to economic development.
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