India Smart Grid Market Outlook – Expansion in Indian Energy and Utility Sector Fuelling Growth
New York, NY, September 01, 2013 --(PR.com
)-- Global market intelligence firm, Netscribes, Inc. has released its latest report on the "Smart Grid Market in India 2013." Increased demand for clean energy is expected to accelerate the demand for Smart Grids in the Indian market.
Netscribes’ latest market research report titled Smart Grid Market in India 2013 covers a wide spectrum of concerns regarding the smart grid industry and identifies several factors impacting smart grid deployment in India. A Smart Grid is an "energy internet" that delivers real time energy based information through technologies that help stabilize existing grids with precise power control.
The technology has emerged as a growing phenomenon in the global industrial arena and has also been accorded high national priority by the Indian Government. Fourteen pilot projects have been initiated and the market has also witnessed substantial investments from local and international players. The boom in the sector has also attracted several IT majors who have formed partnerships to develop Smart Grid solutions in India.
The Smart Grid industry is also witnessing a global pull owing to the US based sector’s target of 80% renewable energy generation and 100% consumer participation in smart grid technology by 2035. China has also revealed plans to roll out 300 mn smart meters by 2015. The demand-supply gap of power in India will also act as a major driver for smart grid development in the domestic market. The market’s affinity for renewable energy is also expected to stimulate the demand for smart grids.
The report also identifies a few pain points in the industry that include the need for larger investments and awareness in the market. Events such as the Smart Grid Summit and World Smart Grid Conference are therefore, being organized to gather, discuss and find solutions for smart grid development in India. According to the report, the Ministry of Power (Government of India) has constituted two organizations named ISGF and ISGTF for developing Smart Grid Technology in India.