Smart Grid market in India to grow at a CAGR of 16.4%

Smart Grid market in India to grow at a CAGR of 16.4%

A smart grid is an integration and implementation of communication, automation, and IT systems with traditional electrical grids. Smart grids efficiently monitor and control power flows and manage the load to match the real-time or near real-time generation. Smart grids increase predictability, visibility, and control of generation, making the entire system highly flexible.

This helps integrate intermittent energy from renewable generation and enables enhanced peak load management. Consequently, peak power costs are reduced considerably. Electrical grid transformation to smarter grids depends on various building blocks, applications, and layers of the automation, communication, and IT systems.

The Smart Grid Market in India is segmented on the basis of Technology and Application.

Smart Grid in India Market 2015-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the leading states in India in terms of smart grid implementation; it also covers the Smart Grid market landscape in India and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

The implementation of efficient and reliable end-to-end bi-directional energy systems through the integration of renewable sources and smart distribution and transmission is facilitated by the use of smart grids. They ensure the sustainability and efficiency of energy through adoption of various management and demand-response systems and also help in reducing Aggregate Technical and Commercial (AT&C) losses.

Smart grids enable consumer side energy management by interconnecting various energy management systems and allowing greater control of the appliances and equipment in the home and workplace, thus enabling consumers to lower their energy consumption,.

While availability of funds is a major challenge impacting the implementation of smart grids in India, the Government has set new policies, which have substantially eased the process of foreign investment in the power and construction sectors.

The Government of India is considering exempting smart grid foreign investment from all foreign direct investment conditions, says Ghaus.

Source: CSO

Smart Grid Bulletin February 2019

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