India's energy consumption projected to quadruple by 2030, becoming the largest global energy contributor, with renewable energy investment surpassing fossil fuels.

India's energy consumption is expected to quadruple by 2030 due to industrialization, urbanization, and rising incomes, making it the largest contributor to global energy demand between 2020-2040, reports the India Energy and Climate Centre (IECC). Renewable energy investment has surpassed fossil fuel investment, and the cost of solar and storage projects is now competitive with coal, indicating a potential shift in energy sources. However, challenges remain in raw material scarcity, intermittency, and grid integration. The geopolitical implications of this energy transition are significant, as the balance of power shifts from oil-rich nations to countries with renewable potential and control over critical resources.

August 03, 2024
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