Electric Vehicle Charging Infrastructure in India: A Necessity and a Challenge
According to industry estimates, the growing usage of EVs by 2030 will boost power consumption by 100 TWh. While electric vehicles are still a long way from being commonplace in India, the EV sector has been growing. According to a World Economic Forum white paper published in 2019, the Indian car sector is one of the fastest-growing markets, even though they account for only 0.5 per cent of the worldwide EV market.
Small commercial vehicles are driving the country's electric car revolution. According to CRISIL Research, electric two- and three-wheelers will continue to grow. By 2024, their penetration is expecting to be 12-17 per cent on new vehicle sales for electric-two-wheelers and a whopping 43-48 per cent for three-wheelers, while the share of electric vehicles (EVs) in the four-wheeler space is expecting to remain low.
What is the current scenario?
Today, approximately 2 million battery-powered three-wheeled rickshaws are roaming Indian highways, the majority of which are low-speed e-rickshaws with a top speed of 25 km/h. E-rickshaws, as they are often known, are not only cost-effective for the owner or driver. But they are also easy to charge and operate efficiently for a day, in addition to being green and noise-free.
Although the Indian EV market has anticipated expanding at a CAGR of 44 per cent between 2020 and 2027, with annual sales reaching 63 lakh units by 2027, India is still in the early stages of EV adoption. The country is dealing with several issues, including range anxiety, high pricing for electric vehicles (electric four-wheelers), battery manufacturing capabilities, power usage, and a lack of charging facilities. The lack of comprehensive electrical charging infrastructure is the most severe impediment of all.
According to MarketWatch, India would require around 4 lakh charging stations by 2026 to meet the demand for 20 lakh EVs on the road. As of March 2021, the country has 1,800 charging stations. According to an independent analysis conducted by CEEW Centre for Energy Finance, about 29 lakh public charging stations will be required by 2030 to enable EV adoption under the NITI Aayog's base case objective. Around 21 lakh (71 per cent) of these chargers will be modest capacity chargers used to support two-wheelers and three-wheelers. Aside from installing new charging stations, a shortage of space is a barrier since consumers require a location to charge their EVs.
What are the obstacles to the development of electric charging infrastructure?
When it comes to development, the electric charging infrastructure confronts numerous gaps and obstacles. In India, AC001 and DC001 chargers are the most common alternatives for public charging stations, although most 2W, 3W, and 4W versions do not.
Another main issue is a lack of funding for grid construction to accommodate the growing demand. According to industry estimates, the growing use of EVs by 2030 will boost power consumption by 100 TWh. Other obstacles include a shortage of land, a lack of instruments to lease government-owned and agency-owned land to put up public charging stations and a lack of funding.
CEEW Centre for Energy Finance research?
However, according to a study conducted by the CEEW Centre for Energy Finance, the transition to the EV market presents a once-in-a-lifetime opportunity for numerous market stakeholders. The huge market opportunity has the potential to be a significant driver of India's post-COVID economic recovery, producing employment and economic value along the value chain, both in existing enterprises and in new industries.
The Indian government is taking numerous steps to address the difficulties to make India a 100 per cent electric carnation by 2030. However, it remains to see, if these steps are sufficient to attain the aim within the timeframe allotted. A balanced ratio of EVs on the road and charging points is necessary to encourage early adopters to select EVs and ease range anxiety.
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