Industry Odisha Bureau, Aug 5: Even though India is reportedly claimed to be energy efficient of late after having adopted proactive policies in renewables, storage, and diversification offer pathways to a more secure and sustainable energy future, analysts have reportedly viewed that India still faces energy security challenges due to high import dependence, fossil fuel reliance, infrastructure gaps and geopolitical vulnerabilities.
Media reports, citing views and contentions of analysts, have stated that, “India imports around 80% of its crude oil and over 45% of its natural gas requirements, making it highly vulnerable to global price fluctuations and supply disruptions caused by geopolitical tensions or natural disasters.”
On the fossil fuel reliance, the analysts have reportedly contended that, “Despite progress in renewable energy, India’s energy mix remains dominated by coal (56%), oil (27%), and natural gas (6%). This heavy dependence on carbon-intensive fuels not only contributes to environmental concerns, but also limits energy diversification, and thus, making the country vulnerable to price volatility and supply disruptions in global fossil fuel markets.”
As per media reports, the analysts have futher contended that, “While solar and wind energy have significant potential in India, it requires substantial investment in grid infrastructure and battery storage. Besides facing regulatory hurdles, India has limited energy storage capacity and insufficient domestic manufacturing for renewable energy technologies.”
Citing the growing domestic demand, the analysts have reportedly stated that, “Meeting this growing domestic demand while maintaining affordability and reliability is a persistent challenge since India’s rapid economic growth, urbanisation, and industrialisation are driving a sharp increase in energy consumption.”
Reportedly, “India’s per capita electricity consumption is now around 1,395 kilowatt-hour (KWh), i.e. roughly one-third of the global average. Thus, it highlights India’s current energy deficit and the need for sustainable expansion.”
Nevertheless, the analysts have reportedly lauded India’s investment in “renewable energy programmes like the National Solar Mission, Wind Energy Programme, and Bio-Energy Mission, alongside the green hydrogen initiatives and advanced energy storage technologies to enhance energy security.”
Notwithstanding that, the analysts have reportedly advocated that, “It is high time India should improve domestic production and strengthen strategic reserves in a bid to reduce vulnerability to external shocks and ensure long-term energy stability.”
