Forecast: Primary Energy Consumption in India

As of 2023, India's primary energy consumption stood at 36.99 Exajoules, with a year-on-year growth of 1.5% from 2022. Over the last two years, the consumption exhibited a modest growth trend with a cumulative average growth rate (CAGR) of 2.5%. Analyzing the broader 5-year period leading up to 2023, the CAGR was 3.33%, highlighting a steady increase despite the negative growth observed in 2020 due to the pandemic. Looking forward, the forecast for the next 5 years anticipates a CAGR of 2.15%, suggesting a more tempered yet continuous growth path, leading to an 11.22% total increase in primary energy consumption by 2028.

Future trends to watch for include the impact of renewable energy adoption, advancements in energy efficiency technologies, government policies promoting green energy, and economic variables that could either boost or hinder consumption patterns. Given the projected moderate growth, strategic planning and investments in sustainable energy sources will be crucial for aligning with global environmental goals.