Forecast: Electricity Generation in India

Electricity generation in India recorded impressive growth from 2013 to 2023, standing at 1.94 thousand terawatt-hours (TWh) in 2023. The year-on-year variation shows significant hikes and occasional declines, with notable growth spikes in 2014 (10.13%) and a contraction in 2020 (-2.48%) due to the pandemic. Over recent years, the compounded annual growth rate (CAGR) has tempered from early figures of 6.71% in 2013 to 4.16% in 2023.

Looking ahead, forecasts indicate a CAGR of 2.85% from 2023 to 2028, suggesting steady yet moderate growth. By 2028, the electricity generation is expected to hit 2.32 thousand TWh, marking an overall growth rate of 15.06% over this forecast period.

Future trends to monitor include:

• Increased renewable energy integration.
• Government policies and incentives.
• Technological advancements in energy storage.
• Demand fluctuation driven by industrialization and urbanization.