India is using cheap green tech to electrify faster than China
7 days ago
- #Electrification
- #Clean Energy
- #Economic Development
- India is electrifying faster and using fewer fossil fuels per capita than China did at similar economic development levels.
- Clean electricity could be the most direct way to boost growth for developing economies, challenging the traditional path of biomass to fossil fuels.
- India's coal and oil consumption per capita is significantly lower than China's was at similar income levels, thanks to cheaper solar panels and electric cars.
- India's peak road-oil consumption per person is unlikely to reach Chinese levels due to advancements in electric vehicle adoption.
- Countries without significant fossil-fuel reserves, like India, may become 'electrostates' relying on clean electricity for most energy needs.
- China's dominance in electrotech manufacturing could create bottlenecks for other countries, as seen with India's Reliance Industries pausing battery production due to equipment shortages.
- Trade tensions and reliance on Chinese equipment could slow electrification, but incentives for local manufacturing could accelerate it.
- India aims to reduce its $150 billion annual fossil-fuel import burden by transitioning to clean energy for economic and energy independence reasons.