In the last few years, significant efforts have been organized by the government and personal sector towards attaining the aim of ‘Power for All’. The government has taken a multidimensional way to undertake the issues of the power zone. The Ministry of Power, New, and Renewable Energy and Mines, Coal, GoI with support from state governments, is functioning on a sweeping transformation of the whole sector. These labors include: adding new capacity with a focus on RE, resolving the issues of fuel availability, bringing down the cost of generation from RE sources, improving efficiency and emissions of fossil fuel based power plants, strengthening the inter and intrastate power evacuation system, electrifying rural areas, modernizing grid system operation, focusing on energy storage and reviving power distribution companies.
According to study,’ Power Monthly Deal Analysis – April 2018: M&A and Investment Trends’ some of the major companies that are currently working in the power creation industry include EDF, Enel, E.ON, Iberdrola, Duke Energy, Exelon, Southern Company, NextEra Energy, Dominion Resources, SSE.
An extra 8.1GW of new breeze power capacity could be owed by the end of 2030, under a new draft plan sketched by energy minister Jeff Radebe. South Africa’s unit of energy states an inclination for “least-cost” choices, including new breeze, gas and solar PV, offered it can balance deliver and demand. A 1.6GW yearly limit for breeze and 1GW for solar PV until 2030 would make sure a “smooth roll-out of renewable energy” and “help sustain the industry”, the subdivision of energy affirmed. The IRP strategies to allocate this 1.6GW upper limit each year between 2027 and 2030, 1.5GW in 2026 and 200MW in 2025. The energy and power sector is swayed by various aspects, such as rise in environmental concerns, highly volatile oil prices and changes in regulations.
IHS Market provides wide coverage of the power and energy expertise markets, surrounding energy storage, solar energy, power supplies, smart utilities, and wind. Research and evolution of new products & technical innovations, renewable energy construction with reducing the carbon footprint will stimulate the market growth. High spread costs in the pastoral areas will obstruct market growth.
The comprehensive power electronics market is segmented by device type, material, and vertical. Based on the device type, the market is segmented into the power module, power discrete and power IC. Based on the material, the market is segmented into Silicon Carbide, Silicon, Sapphire, Gallium Nitride and others. Whereas, based on the vertical, the market is segmented into consumer electronics, IT & telecommunication, automotive, power and aerospace & defense.
As per the Ministry of Power, Govt. of India, India’s energy mix is developing slowly with fossil fuels meeting 82% of demand. Renewable will overtake gas and then grease by 2020 as the second main source of energy production.
Under the management of Prime Minister Narendra Modi India is faithful towards the development of renewable energy infrastructure. For example, 175 GW target for 2022 and the formation of ISA led by India and France. Another consider by University of Technology (LUT) in Finland illustrates that India has a massive potential to move into a completely renewable electricity system by 2050, due to a great number of renewable resources.
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Ankur Gupta, head marketing & communications