News Economy News

India's overall electricity demand from EVs may reach 69.6 TWh by 2030: ASSOCHAM-EY study
15-Jun-18   11:33 Hrs IST
The overall electricity demand from electric vehicles (EVs) in India is projected to be around 79.9 gigawatt hours(GWh) by 2020 and is expected to reach 69.6 terawatt hours (TWh) by 2030, noted a recent ASSOCHAM-EY joint study.

“The overall EV demand is expected to help utilities earn an estimated US$ 11 billion (INR700 billion) in revenue by 2030,” according to the study titled, 'Electrifying India: building blocks for a sustainable EV ecosystem,' jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and Ernst & Young LLP (EY).

The report added that increasing adoption of EVs across India will be instrumental in transforming the country's power sector. “The surge in electricity demand from EVs will help recover the slow demand growth.”

It also said that arrival of electric mobility is expected to help the P&U (power and utilities) sector realize net cost and revenue benefits from both demand and the supply side.

Further highlighting the impact of EVs on Indian power sector, the report noted that it will help the country in achieving carbon emission reduction targets.

“By 2030, EVs are expected to reduce emissions by 40-50 per cent, compared to ICE (internal combustion engine) vehicles in an aggressive renewable energy scenario,” it said.

However, the report added that even if the grid continues to be coal heavy, emissions are likely to reduce by 20-30 per cent.

It also said that power and utilities sector in India is undergoing rapid transformational developments—reducing dependence on imported coal, rising energy independence with renewables, reducing plant load factors (PLFs) and national grid integration to name a few.

The ASSOCHAM-EY study suggested for a national regulated rate that can be applicable to all charging stations across India considering that government is in discussion to standardize charging infrastructure development in India, besides many norms are proposed to standardize the market, but they are still in the planning stage. Additionally, EV charging tariffs are regulated at some locations, while tariffs are not fixed at other locations.

It is also recommended that in order to meet the rising demand of charging stations the government will have to quickly facilitate standardization of charging infrastructure and incentivize R&D for advanced charging technologies.

“We expect the government to take active measures to streamline regulatory challenges and provide further policy impetus to drive uptake of EVs.”

It also said that while success of India's EV mission depends upon development and proliferation of domestic manufacturing ecosystem, however, absence of an EV supply chain in the country demands an urgent investment in research and development (R&D) and local manufacturing capabilities.

Further, the report noted that clear policy guidelines are essential for EV market to take-off, given the huge capital investments involved.

Powered by Capital Market - Live News

Attention Investors:
KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day.........issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Disclosure of Proprietary Account Trading by Members to Clients
Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades.
Copyright © 2016 All rights Reserved GOODWILL
Designed, Developed and content powered by CMOTS Infotech ( ISO 9001:2015 certified )
Filing complaints on SEBI Complaint Redress System (SCORES)
– Easy & quick
  • Register on SCORES portal
  • Mandatory details for filing complaints on SCORES:
    • Name, PAN, Address, Mobile Number, E-mail ID.
  • Benefits:
    • Effective communication
    • Speedy redressal of the grievances.
You can file complaints on SCORES through