Energy
@ZibiGroup
Concerns about climate change, energy security, and technology breakthroughs are driving a major revolution in the global energy sector.
According to projections, the fastest-growing market will be renewable energy sources including solar, wind, and geothermal. Their domination will be fuelled by government assistance, technology advancements, and increased affordability.
Anticipate a notable increase in the capacity for renewable energy, especially in areas with a lot of sunshine and wind.
Market size:
In 2024, India’s energy market is expected to experience significant growth, particularly in renewable energy. The government’s focus on renewable capacity expansion aims for 500 GW by 2030, with major investments and initiatives in infrastructure. Despite a strong emphasis on clean energy, coal continues to account for around 73% of the country’s electricity generation. Ongoing efforts in smart metering and energy efficiency are also set to support the sector’s development
Challenges:
⦿ Transition to green energy
⦿ Geopolitical tensions
⦿ Energy efficiency
⦿ Investment needs
⦿ Legacy infrastructure.