The overall power demand from electric vehicles (EVs) in India is projected to be about 79.9 gigawatt hours (GWh) by2020and is expected to soar to 69.6 terawatt hours (TWh) by2030, according to a joint study conducted by Assocham and Ernst & Young LLP (EY).

“The overall EV demand is expected to help utilities earn an estimated $11 billion (Rs. 70,000crore) in revenue by2030,” the authors of the study ‘Electrifying India: building blocks for a sustainable EV ecosystem,’ wrote.

Demand growth

Increasing adoption of EVs across India would be instrumental in transforming the country’s power sector.

“The surge in electricity demand from EVs will help a recovery from the slow demand growth,” EY said in the study, adding that the arrival of electric mobility was expected to help the power and utilities sector realise net cost and revenue benefits from both the demand and supply sides.