Solar Energy Essay

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SOL AR ENERGY SECTOR IN INDIA PRESENT ENERGY CONSUMPTION PATTERNS INDIA OVERVIEW • India is the 5th largest energy consumer • India has vast potential in the Exploration Sector. • 54% Coal, 32% Oil, 9% Natural Gas • Indian Primary Energy Sector growing at 5% SIZE • • • Oil & Gas cater to 45% of India’s primary energy requirements Crude oil demand is currently about 146 MMT while the domestic production of crude is only 34 MMT Natural gas demand is currently about 179 MMSCMD while the domestic supply is only 80 MMSCMD OUTLOOK • Crude oil demand is likely to increase to about 235 MMT by 2012 • Gas demand is expected to reach 279 MMSCMD by 2012 • At current rate of consumption & production, oil in India would last only for about 20 to 25 years. REQUIREMENT OF ENERGY The Indian economy has the second-fastest rate of increase in GDP in the world – 6.3% (according to recent prediction). The country accounts for a third of the world's population without access to electricity. This situation persists despite several initiatives and policies to support poor households. Five different ministries have structurally handled the Indian energy sector, among them the Ministry of New and Renewable Energy. India is probably the only country in the world with a dedicated ministry for renewable. The country ranks fifth in the world in terms of total energy consumption and needs to accelerate development of the energy sector to meet its growth aspirations. Though rich in coal and abundantly endowed with renewable energy in the form of solar, wind, hydro and bio-energy, India has very small hydrocarbon reserves (0.4% of the world’s total). Being a net importer of energy, more than 35% of the country’s primary energy needs are ensured through import. India needs more power – lots of it. Not only

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