India’s energy demand to grow 2.5 times by 2047

NEW DELHI: India’s energy needs are expected to grow by 2 to 2.5 times by 2047 to meet the developmental priorities and aspirations of a growing economy, according to the Economic Survey tabled in Parliament on Monday.

As per the survey, given the limitations of resources, the pace of the energy transition must consider alternative demands for improving climate resilience and ensuring sustained social and economic development. The survey emphasizes that achieving net-zero emissions by 2070 will require an orderly transition to a diversified mix of energy sources, with a significant share from non-fossil sources and improvements in energy production and efficiency.

“Phasing renewable energy into the country’s energy mix is paramount in India’s drive towards cleaner energy sources,” the survey reads.

In 2022-23, India’s primary energy mix was dominated by fossil fuels, with nearly 84% of energy needs being met by coal, oil, and natural gas. However, the electricity sector’s composition has significantly shifted due to the increased integration of renewables. As of May 2024, the share of non-fossil power capacity in the electricity sector stands at 45.4%, up from approximately 32% in April 2014.