Top Trends to Watch Out for Power Transmission in 2020

The power transmission sector of India has witnesses unprecedented growth in the span of the last five years. At present, the country’s transformer capacity and line length are growing annually at an average growth rate of 9.6% and 6.5% respectively. Moreover, the various policies and schemes launched by the Government of India have improved our operational and financial performances in the past few years. With the recent announcement of Rs 102 lakh crores national infra pipeline and the national aim of becoming a $5 trillion economy by 2025, the coming few years are going to be eventful. 
According to a recent industry report by Freedonia Group, India is going to witness a rise in the demand for electric power transmission and distribution equipment – a demand rise of 8.2% per annum to ~$15.8 billion in 2023. Here’s a sneak-peak into some of the trends that are going to shape up the coming years.
green energy
energy storage
  • Marching towards robust energy storage:
With the looming threat of climate shift and global warming, renewable energy is no longer an alternative source of energy – rather in the next few years, it should be the only source of energy. With average solar insolation of nearly 4-7 kWh/m2 and endowed with over 300 sunny days, solar power in India has a huge potential. However, the simple fact that the sun may not always shine, and wind may not blow every time makes this the ‘Achilles Heel’ of REsource. Hence, it’s important that we “make hay while the sun shines” and ensure the reliability and availability of renewable energy all the time. The coming years will see industry leaders pushing the development and promotion of better energy storage and management systems. 
  • Blockchain to gain momentum:
As per recent research by Global Market Insights, in the energy sector blockchain is forecast to grow to nearly $3 billion - a jump of 45%, from its present market by 2025. The coming few years are going to leverage the advantages of distributed ledger technology of blockchain. Moreover, the transparency provided by the blockchain network will prove beneficial to both, the customers as well as the businesses. The two vital areas where blockchain can really speed-up the transformations in the energy sector are the development of peer-to-peer energy trading models and the evolution of cryptocurrencies for a seamless payment system.
  • Digitization of PV industry:
The last decade saw the development of solar PV on a global scale. However, the reduction of costs using conventional methods has reached its limit. The coming decade is going to see the digitalization of the PV industry in the energy sector. New-age technologies such as IoT, big data, cloud computing will help the PV Industry to realize better O&M efficiency. 

For the ‘Power for All’ objective of the Government of India, proper evacuation of energy must be achieved. The next two years will see Government and state utilities rooting for more and more integration of renewable energy. The target is to achieve the integration of 175 GW of RE by 2022. As a boost to this, transmission schemes amounting to ~Rs 432 billion in renewable energy zones have already been approved by the government and are targeted to be completed by 2022. 

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