The liberalization of power sector in India has led to growth of employment opportunities and the sector has a strong growth potential in the years to come.
The Indian Power sector is one of the most diversified sectors in the world. India has the world's fifth largest electricity generation capacity. Power in India is generated from commercial sources such as coal,ignite, natural gas, oil, hydro and nuclear power as well as other viable non-conventional sources like wind, solar, agriculture and domestic waste.
Electricity demand in India is only expected to grow further in pace with the rapid economic growth. The country offers unlimited growth potential for the solar photovoltaic (PV) industry and is emerging as a major manufacturing hub for solar power plants.
The prime reasons for incessant growth of this sector are industrial expansion and consistent rise in per capita income of the country. This pattern is expected to continue in the coming years as well. The sector is also exploring new avenues with nuclear power generation and renewable energy systems.
This industry receives tremendous support from the government owing to the increasing demand and consumption. Foreign investments in power generation are also encouraged. There is a thus, a remarkable increase in employment opportunities in this sector for professionals qualified and skilled in power generation, transmission and distribution segments.
India exhibits great potential for generation of power from renewable resources such as Biomass, Wind, Solar Energy, and Small Hydro. By 2014-15, the Ministry of Power plans to achieve 300,000 MW of power generation capacities by establishing an integrated National Power Grid.
The Government of India plans to investment in considerably and adequately in the coming years. The following graph presents the expected investment plans for power sector for next Fiscal Years.
- India is the 5th largest producer and consumer of electricity in the world
- Power consumption is estimated to increase from 821.2 TWh in 2013 to 1,433.2 TWh by 2022
- Power is a major reason for increased foreign direct investment (FDI)
- Investments of around US$ 223.9 billion are planned for the power sector during the 12th Plan Five-Year Plan (2012-17).
- By 2032, India aims at achieving 80,000 MW of power generation through renewable sources.
The sector provides immense opportunities for young talents looking to extend their services to this industry.UPES offers specialized B.Tech programs in Power System Engineering and Instrumentation & Process Control and M.Tech programs in Nuclear Science and Technology Power &industrial Drives and Power Distribution with specialization in Smart Grids.