New Delhi, February 20 . According to the India Energy Storage Alliance (IESA), a leading industry body focused on e-mobility, energy storage and hydrogen, the cumulative number of EVs on Indian roads is expected to cross 28 million in 2030. This will increase the demand for energy from the grid.
According to a statement by IESA, India’s cumulative EV sales have crossed 41 lakh units in FY 2023-2024 and the future outlook for electric vehicle sales remains positive. Their demand is increasing due to environmental awareness, customer interest, advances in battery technology and easily available and accessible EV charging infrastructure.
IESA said, “It is estimated that 83 percent of annual sales will be electric-two wheelers, 10 percent will be electric-four wheelers and commercial vehicles such as trucks, buses. At the same time, electric wheel vehicles will contribute seven percent to the sales.”
India is making significant and steady progress in its decarbonization journey, with a focus on rapid growth in electric vehicle sales, demand and supply incentives, growing consumer demand and developing charging infrastructure.
IESA President (Interim) Vinayak Valimbe said that India has seen substantial growth in electricity consumption, reaching 1,543 TWh (trillion watt hour) in 2023-24. This is an increase of seven percent compared to last year.
“According to the Central Electricity Authority (CEA), power consumption on public charging infrastructure is projected to be 465 GWh from April to October 2024, more than double the 204 GWh in 2022-2023,” he said.
He said that with most EV users opting for charging facilities at home, IESA estimates that the energy demand for EV charging will be 4,000 GWh in FY 2024-2025 which will increase to 38 TWh by FY 2031-2032, with peak power demand projected at 366.4 GWh.”
The Ministry of Power has prepared a National Electricity Plan, a 10-year roadmap. It is important to help drive future strategies and ensure energy security.
India is the third largest producer and consumer of electricity in the world.
The National Electricity Plan estimates that the total annual demand on the Indian power grid will grow to 2,133 TWh by 2031-32 and EV charging will account for about three per cent of this demand, according to IESA estimates.
According to the IESA report, India’s total installed capacity is projected to grow to 466 TWh in January 2025. The plan is expected to increase the capacity from 100 GW to 900 GW by 2032.
The plan serves as a blueprint to accelerate the installation of EV charging infrastructure to meet future EV charging demand and increase the number of charging stations to around 1 lakh by 2030.
