The rapid development of smart grid market in India

The rapid development of smart grid market in India

The serious imbalance in power supply and demand has led to the rapid development of the smart grid market in India. TechNavio, a well-known foreign research company, predicts that the annual growth rate of the smart grid market in India will reach 16.4% in 2014-2018.

The implementation of an efficient and reliable end-to-end bi-directional energy system through the integration of renewable energy, and smart transmission and distribution can all be promoted by the use of smart grids. By adopting a variety of management and demand response systems, smart grids can ensure the sustainability and efficiency of energy, and reduce technological and business losses.

“By interconnecting different energy management systems, allowing greater control over home and workplace applications and devices, the smart grid can achieve energy management for the user, enabling users to reduce energy consumption,” said Faisal Ghaus, vice president of TechNavio.

However, capital is the major challenge for India to implement smart grids. Therefore, the Indian government has formulated new policies to significantly relax overseas investments in the power and construction sectors.

Ghaus said that the Indian government is considering exempting smart grid overseas investment from all overseas direct investment conditions.

The five major players in India's smart grid market are ABB, General Electric, Larsen Bolo, Schneider Electric and Wipro.

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