DUBLIN, Mar 6, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "India Smart Grid: Market Forecast (2017-2027)" report to their offering.
India is projected to invest $44.9bn in smart metering, distribution automation, battery storage and other smart grid market segments over the next decade. This investment will help to reduce the country's staggering 22.7% transmission and distribution loss rate.
India represents what is arguably the best smart grid market opportunity among all emerging market countries. It has the second largest electricity customer market size in the world. Unlike China, which has the largest, the Indian market will be open to international vendors, as stated in the central government's smart grid development strategy. This will create very significant market opportunities for the leading global players. Vendors from across Europe, North America, and Asia have already participated in small-scale pilots and grid upgrade projects, and have been linked with announcements of large-scale rollouts by Indian utilities that are upcoming in the next several years.
India has power sector market conditions that will require significant smart grid infrastructure investment. It has one of the highest transmission and distribution (T&D) loss rates in the world. In some states, the T&D loss rates exceed 50%, and almost all states have loss rates above 15%. Most Indian utilities fail to achieve cost recovery, and smart grid investment will be an important tool for utilities to reduce losses and improve revenue collection and operational efficiency.
The Indian central government has taken several measures to support smart grid development, including financial revitalization programs for utilities, the establishment of a central smart grid agency, and the publication of recommended financing strategies for early deployments.
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