Electric Vehicles to consume 6 to 8.7 pc of India’s electricity by 2035

Electric Vehicles will consume 6 to 8.7 pc of India’s electricity by 2035. BY 2035, EVs to consume 6 to 8.7 pc of India’s electricity

This is estimated in a report by IKIGAI Asset Manager Holdings. India’s electric vehicles will consume a significant share of the country’s electricity by 2035.

Per the report, EVs will consume 6 to 8.7 percent of the total electricity consumption in India by 2035- an indicator of growing adoptions of electric vehicles and their impact on the power grid.

“EVs in India will consume around 6 to 8.7 percent of the electricity by 2035,” said the report.

The report shows that electric vehicles continue to adapt to the pace of the global market. In 2023 alone, electric vehicles already dominated 18% of all car sales globally, with China accounting for more than half of those sales. The fast-increasing trend in electric vehicle use will also have a considerable impact on global electricity consumption.

“EV Cars Seeing Increased Adoption Worldwide, EVs accounted for 18 percent of all car sales in 2023 with China accounting for more than half of those,” the report added.

The report estimated that with the rising penetration of EVs, their share in global electricity consumption will rise from 0.5 percent in 2023 to between 8.1 percent and 9.8 percent by 2035.

This upsurge in the utilization of EVs is calling upon countries, especially India. To prepare themselves to plan their energy-related infrastructure. With electric vehicles catching up even more, the power sector would have to reach out to more capacity owing to the newly emerging electricity requirement.

It also pointed to another serious issue facing India: the fast-growing demand for cooling devices, mostly air conditioners (ACs). As per the report, extreme temperatures are now increasingly common throughout the country, and the demand for cooling solutions will increase.

“Extreme temperatures in India are driving the need for more cooling devices,” the report said.

The report said the penetration of household appliances, especially ACs, may see sharp growth in India for a decade ahead.

The report said increased extreme heat will drive the demand for cooling in India, which may more than double by 2030. Households may become increasingly keen on acquiring cooling devices to cool their homes as temperatures rise, which will definitely augment electricity consumption across the nation.

FAQs on Electric Vehicles

1. What percent of the electricity in India will be consumed by EVs in 2035?

By 2035, EVs in India are expected to account for 6 to 8.7 percent of the country’s electricity.

2. Who released an India report on EV electricity usage?

IKIGAI Asset Manager Holdings published the report.

3. What percentage of car sales around the world were electric in 2023?

Electric vehicles account for 18 percent of all car sales internationally as of 2023.

4. Which country is ahead globally in terms of the most electric vehicle sales?

Chinese companies sell more than half of all-electric vehicles sold worldwide.

5. How much global electricity usage will be dedicated to EVs in 2035?

From 2023 to 2035, the share of electricity consumption by global EVs is anticipated to rise from 0.5 percent to between 8.1 percent and 9.8 percent.

6. How are increasing EVs likely to impact India’s power infrastructure?

The country must build up its power infrastructure to meet the augmented demand from those EVs.

7. What is another related demand in India alongside the rising demand for electricity from EVs?

Another reason the demand for cooling devices, like air conditioners, is high and rising is the increased temperature.

8. Extreme heat boosts electricity demand in India.?

By 2030, demand for cooling devices will increase more than double, growing aggregate electricity consumption.

9. What is the contribution of climate change to India’s electricity demand?

Rising temperatures from climate change boost demand for air conditioners and, subsequently, for electricity.

10. Why is India investing in efforts to increase its powers?

India needs to take an upward step to raise power capacity by investing. In more cooling solutions only because the many EVs is increasing.