India's energy consumption to grow 90% by 2050: Rosneft CEO (2024)

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India's energy consumption to grow 90% by 2050: Rosneft CEO? ›

New Delhi: With a growing economy, India's energy consumption is likely to nearly double by 2050, one of the fastest growth rates in the world, said Igor Sechin, CEO of Rosneft, one of Russia's largest oil producers. Addressing global business and political leaders at the 27th St.

Coal is the most important and abundant fossil fuel in India. It accounts for 55% of the country's energy need. The country's industrial heritage was built upon indigenous coal.

Total energy consumption per capita reached 0.8 toe (2023), half the Asian average. Electricity consumption per capita reached 985 kWh in 2023. Total energy consumption continued to grow significantly (6.5%/year since 2020, of which 5% in 2023), reaching 1.14 Gtoe in 2023.

India's continued industrialisation and urbanisation will make huge demands of its energy sector and its policy makers. Energy use on a per capita basis is well under half the global average, and there are widespread differences in energy use and the quality of service across states and between rural and urban areas.

Thermal power is the "largest" source of power in India. There are different types of thermal power plants based on the fuel used to generate the steam such as coal, gas, and Diesel, natural gas. About 71% of electricity consumed in India is generated by thermal power plants.

Industrial and commercial activity account for more than half of India's annual power use. Homes account for a fourth, while agriculture has accounted for over a sixth in the recent years. Consumption patterns vary wildly by state and season.

India has one of the highest levels of electricity transmission and distribution (T&D) losses in the world. T&D losses usually range 6% to 8% in developed countries. In India, almost 20% of energy is lost due to T&D, with centralization and theft being the main factors behind the numbers.

India has articulated its clear commitment to reach net zero emissions by 2070 and meet 50% of its electricity requirements from renewable energy (RE) sources by 2030. As per the International Renewable Energy Agency (IRENA) estimates, RE can and should be the source of around 90% of the world's electricity by 2050.

Who is the largest consumer of energy in the world? ›

China is the largest consumer of primary energy in the world, using some 159.39 exajoules in 2022. This is far more than was consumed by the United States, which ranks second. The majority of primary energy fuels are still derived from fossil fuels such as oil and coal.

With a population of approximately 1.4 billion and the world's fastest major growing economy, India's energy demand is growing rapidly. Fossil fuels dominate India's power sector, but the country has ambitious goals to significantly increase the share of renewable and nuclear energy.

Several factors contribute to this crisis. Coal India's struggle to increase production rates due to various operational and environmental challenges is one aspect. Moreover, inefficient mining practices and technological shortcomings result in considerable energy loss.

The thermal power plant is the most common source of electrical energy in India. The transmission of electricity is more efficient than transporting coal or petroleum over the same distance. Therefore, many thermal power plants are set up near coal or oil fields.

India depends mainly on coal for producing power.

Net energy import dependency was 40.9% in 2021-22. In 2020-21, the per-capita energy consumption is 0.6557 Mtoe excluding traditional biomass use and the energy intensity of the Indian economy is 0.2233 Mega Joules per INR (53.4 kcal/INR). India attained 63% overall energy self-sufficiency in 2017.