India Energy Outlook 2021
By : Neha Dhyani
Updated : Feb 28, 2023, 12:10
Energy production is important for our day-to-day lives. Energy is used in households for electricity and in factories for running machines and devices. Without energy, the majority of the world will reach a standstill.
India Energy Outlook Report 2021 was released by the International Energy Agency. The earlier World Energy Outlook report was released in 2015. The report informs on the possibilities and challenges posed to India for the development of affordable and sustainable energy. There is an increasing urgency for developing sustainable and green methods for energy production. The India Energy Outlook 2021 keeps the current announcements on reforms and targets on attempts of reducing carbon footprints and implementation of green renewable methods of energy production.
India Energy Outlook 2021 Objectives
The India Energy Outlook 2021 provides an analysis of the current and prospective energy targets and reforms. The report shows that India aims at -
- Quadrupling its renewable energy production capacity by 2030
- Doubling the share of natural gas
- Reducing its reliance on imports
- Enhancing infrastructure and energy efficiency
- To outperform the pledges under the Paris Agreement
The India Energy Outlook 2021 Key Points
- A coherent framework is designed for sufficing India's considerations towards increasing energy production. The Stated Policies Scenario (STEPS) is used for providing direction to India.
- The IndiaVision Case briefs on the quick resolution of the current health crisis and provides a complete understanding of India's energy objectives.
- The Delayed Recovery Scenario examines the risks to India's economic development if the pandemic continues.
- The Sustainable Development Scenario briefs on the different methods through which India can enhance its clean energy investment and decline its emissions to negligible amounts.
Important Takeaways from the India Energy Outlook 2021
- The report analysed the setbacks faced by energy production in India due to the COVID-19 pandemic. It revealed that the restrictions due to COVID-19 resulted in a decline of 7.2 per cent in the GDP.
- The report highlighted that India is on the way to racing ahead of the EU and becoming the third-largest energy consumer by 2030. At present, India is in the fourth position after China, the U.S., and the EU.
- According to the report, the primary energy consumption would double by 2040 with an expansion of GDP to USD 8.6 trillion.
- There is an 80 per cent demand for coal, solid biomass, and oil to be met. The requirement for natural gas is projected to be tripled.
India Energy Outlook 2021 - Major Reasons Cited for the Increase in Energy Consumption
- Increased industrialisation and urbanisation
- Expanding economy
- Economic growth
- The rapid development of infrastructure\
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India Energy Outlook 2021 - Several Energy Challenges for India
Despite the positive findings, the report also provides insight into the challenges India will have to face in working toward producing reliable, affordable, clean, and sustainable forms of energy. The key challenges include
- Continuous dependence on firewood for cooking fuel
- Deficiency of smooth and efficient electricity supply
- Increased CO2 emissions
- Poor air quality
India is currently the fourth-largest energy consumer. India Energy Outlook Report 2021 provides a comprehensive insight related to the effect of the pandemic on energy consumption, future increase in energy consumption and probable challenges that India would face to suffice the needs of energy production. India needs to focus and work out reliable and sustainable ways of producing energy to create a win-win situation and suffice the energy production without harming the green cover and health of the people of the country.
FAQs on India Energy Outlook 2021
Q1. What was the key highlight of the India Energy Outlook 2021?
The key highlight of the India Energy Outlook 2021 was the projection of India moving ahead of the EU in energy consumption by 2030.
Q2. When was the previous India Energy Outlook before 2021 released?
The India Energy Outlook before 2021 was released in 2015.
Q3. Who released the India Energy Outlook 2021?
The India Energy Outlook 2021 report was released by The International Energy Agency (IEA).
Q4. What are the challenges mentioned in the India Energy Outlook 2021 for India to achieve the increasing energy demand?
Some of the challenges mentioned in the India Energy Outlook 2021 for India to achieve the increasing energy demand include dependency on firewood (solid biomass), lack of reliable electricity, increased CO2 emissions, and poor air quality.