IEEFA releases Indian States' Electricity Transition 2024 report
Odisha exhibits preparedness to embrace the electricity transition through the readiness of its market enablers. However, it struggles with the actual decarbonisation of its power systems.
The first edition of the Institute for Energy Economics and Financial Analysis (IEEFA) and Ember’s State Electricity Transition (SET) report in 2023 analyzed 16 Indian states to help identify the areas that require action and attention at the state level. This year’s report builds on that work by expanding the scope to 21 states. The dimensions and parameters for assessing states have also been refined to reflect the relevance of the parameters to the status of states’ electricity transition progress, feedback from stakeholders, and data availability.
Gujarat and Karnataka are two states that have been the top performers across both iterations of the report despite several changes to the parameters this year. Specifically, in this year’s analysis, the states show that they have effectively integrated renewable energy into their power sectors, have adequate preparedness to further the electricity transition, and have robust market enablers to facilitate the future growth of clean electricity.
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On the other side, states such as Jharkhand, Bihar, West Bengal, and Uttar Pradesh have showcased slower progress than others in most parameters across both iterations of the SET report. Although these states are early in their electricity transition journey, comparatively low performance across several parameters over two iterations of this report suggests structural challenges.
Read Also : RBI issues guidelines on higher liquidity coverage ratio for retail depositsKerala, Haryana, Andhra Pradesh, Punjab, and Maharashtra all exhibited considerable progress in certain aspects but also a significantly slower transition in other aspects. For example, Kerala and Punjab exhibit subpar performance in terms of market enablers for decarbonization, while Andhra Pradesh and Maharashtra struggle with the readiness of their power ecosystems. Despite achieving relative success in decarbonizing the sector thus far, states must address deficiencies in readiness and market enablers to sustain their momentum.
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