India's renewable energy helps meet record

This summer,Forex Trader Forex Simulation Trading Platform Software India's electricity network was much more stable than before, despite electricity consumption reaching an all-time high. This improvement was due to an increase in renewable energy production and ample fuel reserves for coal-fired power plants.

Data from India's electrical grid shows that electricity consumption in June reached a record high of 223 gigawatts (GW), surpassing the peak of 212 GW in June 2022. The total electricity demand in June was a record 140 billion kilowatt-hours (kWh), also higher than 134 billion kWh in June 2022. However, the operation of the grid was much more stable than last year, with the balance between generation and load being closer to that of last year.

As a measure of the balance between generation and consumption, frequency in June was only 6.5%, significantly lower than 12.5% in June 2022. Improved frequency control has greatly reduced the risk of unplanned outages or large-scale grid failures.

Currently, India's power grid has been able to accommodate more renewable energy production and has improved the availability of fossil fuel facilities. Compared to the same period in 2022, wind power generation increased by 1.5 billion kWh (+16%) and solar power generation by 1.1 billion kWh (+14%). Due to improved fuel supply, other forms of generation (mainly from coal-fired units) also increased by 3.3 billion kWh (+3%).

India is beginning to reap the benefits from the large-scale deployment of renewable resources over the past two years. The current capacity of renewable resources has increased by 33 GW (+34%), accounting for more than 85% of all new capacities since mid-2021.

Meanwhile, the Indian government has considered prioritizing an increase in coal production and coal supply to power plants to ensure there is enough fuel to maximize power generation during the peak summer periods each year. Data shows that compared to the same period last year, India's domestic coal production in the first six months of 2023 increased by 46 million tons (+10%), with the amount delivered to power plants increasing by 14 million tons (+4%).

The improvement in fuel supply, along with the generation from renewable sources, has ensured India's power supply, avoiding the severe power shortages and outages that afflicted the grid in October 2021 and April 2022.

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