When India released its smart grid roadmap in late 2013, it read like a bewilderingly ambitious regimen. However, the country has been moving ahead with its plans and a just-released report says not only could advanced technologies benefit more of its population, they can provide a major boost to India's economy.
The roadmap, formally titled Smart Grid Vision and Roadmap for India, set progressive goals from 2012 through 2027 and included, among other things, smart grid pilot projects, smart meter development and deployment, rooftop solar, and renewable energy integration.
The December 2014 report from researchers at McKinsey & Company touches on a variety of areas in addition to energy, such as financial services, agriculture, healthcare, and infrastructure. The company's projected impact of technologies like advanced metering and energy storage, solar and more is encouraging for the country.
"Collectively, the technology we size in energy could have an economic value of $50 billion to $95 billion a year by 2025, including the impact of the carbon emissions avoided," McKinsey said in a summary. "The largest benefit would come from smart metering, which could save $15 billion to $20 billion a year by 2025 in reduced transmission losses. Unconventional oil and gas development might generate value of $10 billion a year by 2025."
India also stands to gain from a joint U.S.-India announcement on climate change, which will concentrate on clean technology and energy research and development, when President Barack Obama travels to India in January, according to an article in India's Economic Times.
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