The growing energy demand in India is being propelled by increasing economic activity, said the International Energy Agency’s World Energy Outlook report, released on Wednesday.
International Energy Agency says India's oil demand will be driven by diesel/gasoil requirements in contrast to the rest of the world, where EV boom will lead to lower demand.
According to the report released at the India Energy Week (IEA) 2024 in Goa, India is on track to lead an increase in oil demand of nearly 1.2 million barrels per day.
Fatih Birol said that, since India has abundant renewable energy capacity, the country should not miss the opportunity to become a superpower in the green hydrogen business.
As stronger government policies and energy security concerns drive more clean energy deployment, renewable capacity additions worldwide are set to jump by 107 gigawatts, said IEA.
The shift from engine to electric cars will reduce global demand for oil by at least five million barrels a day, says International Energy Agency's projections.
Investment in clean energy has accelerated since Covid struck, hitting $1.4 trillion based on IEA's annual report. Yet, in developing countries, the picture looks very different.
Since nuclear energy is a risky business for commercial operators , it's crucial to get government assistance through regulated cost recovery & price guarantees.
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