A new report called “Indian Power Sector Analysis”, indicates there is a huge demand for power in some Indian states due to rapid urbanization and industrialization. Electricity is vital for economic development of a country. The Indian electricity market today offers one of the highest growth potential for private players. Government reforms will be the key factor driving the power sector. Reforms such as The Electricity Act and National Electricity Policy will give impetus to the Indian power sector.
The report conducted by RNCOS a leading market research firm also revealed that alternative energy sources such as nuclear, wind and solar will fulfill a large chunk of India’s energy needs in the coming years. Many states are formulating exclusive policies for renewable energies in order to promote and develop these energy sources. RNCOS E-Services’ report focuses on the growing power sector in India. It thoroughly investigates the current market trends, evolving markets and growth prospects for the power industry. It will help interested parties to analyze the driving forces and leading-edge opportunities critical to the success of the power industry.
Based on the study of the Indian power sector, the report discovered that the total installed capacity will add around 45000 MW by 2013-14. However, demand is much higher than supply with a deficit projected to be more than 12% during 2010-11. The report also found that renewable energy creates huge opportunities for power generators as the commitment to generate clean energy and environmental obligations have become top priority for most of the nations around the world. However, coal based power will remain the dominant source for energy in India.