BackAccess, grid reliability to drive electricity demand
Electricity demand may rise 3.5 times between 2016 and 2040, according to a Bloomberg New Energy Finance report on the future of global power markets
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Low off-take by distribution companies may be suppressing electricity demand. In the long run, however, India is forecast to see one of the fastest rates of electricity demand growth in the world.
A Bloomberg New Energy Finance report on the future of global power markets estimates electricity demand to rise 3.5 times between 2016 and 2040.
The demand is expected to be driven by rising population and improving access to energy. Interestingly, the report forecasts the commercial and industrial consumers, who are increasingly adopting captive sources of power, to move to grid-based power due to improvement in supply reliability.
“As reliability improves, many customers are expected to increase their dependency on grid supplied power," the report adds.
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