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energy sectorCNBC
•Business
Business & Economics
85% Informative
With India forecast to be the world's fastest-growing large economy and biggest oil consumer over the coming years , if it does not take action fast, emissions will only continue to rise.
To truly decarbonize its energy sector, India needs to act on three fronts: integrating renewable energy into the grid, improving energy efficiency and leaning into decentralized energy solutions.
All of these will require funding, and India will need to attract greater amounts of philanthropic, foreign, and private capital.
A digital energy grid overlaid with centralized power purchase and dispatch will improve efficiency in power trading, and likely lead to lower power prices.
While this transition takes place, greater flexibility is needed at India 's coal power plants to ensure a steady baseload supply of power, while more investment in nuclear is needed to guarantee future energy security.
Smart appliances, buildings, and meters, coupled with time-of-day tariffs, can enable better demand optimization.
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English
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