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India's electricity demand hits record high

published: 2024-06-21 17:11

According to the latest news, India's power sector reached a record maximum power demand of 250 GW on May 30, 2024. On May 30, the northern region also achieved a record demand of 86.7 GW, while the western region also reached a maximum demand of 74.8 GW.

Among them, the growing photovoltaic power generation has had a significant impact on meeting India's surging power demand. The latest data from the Indian Ministry of Power shows that India's photovoltaic power generation increased year-on-year in April this year. Monthly power generation data from the Central Electricity Authority (CEA) shows that in April 2024, India generated about 12.021 billion MUs of photovoltaic power. On the other hand, in the same month of 2023, the country's solar power generation was 10,318MUs. Therefore, the country's solar power generation increased by 16.50% compared with the same period last year.

India currently has 82GW of installed solar capacity and aims to have 300GW of installed PV capacity by 2030.

This ambitious goal is supported by several initiatives of the Indian government, such as the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program, PM SuryaGhar program for large-scale rooftop PV, and large-scale initiatives for utility-scale solar. At the same time, the commercial and industrial PV market is also expanding for captive use.

This shows that government agencies, power generation companies and grid operators in India are committed to increasing power generation capacity, optimizing resource allocation and implementing policies to meet the country's energy needs. This shows that the solar industry in India is undergoing an extraordinary transformation, creating a lot of opportunities for startups and entrepreneurs. With the government's ambitious goals and policy support, the PV industry is becoming a hot spot for innovation and investment.


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