Indian Economy News

India's Power Capacity Set to Cross 2,000 GW by 2047

India's installed electricity capacity could cross 2,000 GW by 2047, nearly four times current levels, with solar power alone projected to exceed 1,100 GW, according to the ENCIS India's Power and Energy Transformation Outlook. Released at Bharat Electricity, POWERGEN India and Indian Utility Week 2026 in New Delhi, the report said non-fossil sources already account for 53% of India's 540 GW installed capacity, five years ahead of target, while peak electricity demand, driven by data centres, electric mobility and green hydrogen, has nearly tripled since 2000 and is expected to reach 366 GW by 2032. India will need to nearly triple renewable energy deployment by 2030 to reach 500 GW of non-fossil capacity, with grid-scale storage projected to rise 40-fold to 200 GWh. Mr. Bhupinder Singh Bhalla, Honorary Chairperson of the Governing Council for the event and Former Secretary, Ministry of New and Renewable Energy, said India's energy transition is now about orchestration rather than just expansion, with success measured by system reliability, affordability, flexibility and security.

Mr. Ghanshyam Prasad, Chairperson, Central Electricity Authority, said India's real challenge lies in building a grid and market architecture capable of integrating renewables, storage and new technologies at scale. Smart meter deployment is expected to reach 250 million units by FY2028, though the report flagged distribution as a key bottleneck, with 44 GW of renewable projects facing contract or financing delays. Coal will continue supporting grid stability, while the sector is expected to require Rs. 47.72 lakh crore (US$ 0.5 trillion) in investment by 2030 and over one million additional skilled workers. The three-day event brought together over 15,000 professionals, 250 exhibitors and 150 global thought leaders from 40 countries.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.