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Electricity demand from EVs to help power utilities earn USD 11 bn: Report

Press Trust of India  |  New Delhi 

The from large-scale adoption of (EVs) in is projected to touch 69.6 terawatt hours by 2030, helping earn an additional revenue of USD 11 billion, a report said today.

The joint study by and added that increasing adoption of EVs across will be instrumental in transforming the country's power sector and reduce emissions by 40-50 per cent, helping the country in achieving carbon emission reduction targets.

Moreover, it said, the mass adoption of electric mobility is expected to help the power and realise net cost and revenue benefits from both demand and supply side.

"By 2030, EVs are expected to reduce emissions by 40-50 per cent, compared to internal combustion engine vehicles in an aggressive renewable scenario," the study said.

However, the report added that even if the grid continues to be coal-heavy, emissions are likely to reduce by 20-30 per cent.

The report highlighted rapid transformation underway in the country's power and via reducing the dependence on imported coal, rising independence with renewables, reducing plant load factors and national grid integration.

It suggested a national regulated rate that can be applicable to all charging stations across India, observing that the government will have to quickly facilitate standardisation of charging infrastructure and incentivise R&D for advanced charging technologies.

"We expect the government to take active measures to streamline regulatory challenges and provide further policy impetus to drive uptake of EVs," noted the report.

It also said that while success of depends upon development and proliferation of domestic manufacturing ecosystem, absence of an EV in the country demands an urgent investment in research and development and

The report also noted that clear policy guidelines are essential for EV market to take-off, given the huge capital investments involved.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 14 2018. 14:35 IST