India ranks 78 among 114 countries on WEF's Energy Transition Index

As countries across the world transition towards a more sustainable energy system, India, one of the world's largest energy consumers, was ranked 78 among 114 countries on World Economic Forum's Energy Transition Index 2018. The index listed countries based on their ability to balance energy security, environmental sustainability and affordability.
 
The report titled "Fostering Effective Energy Transition" lauded India for 'bold measures' to improve energy access, energy efficiency, and to improve the deployment of renewable sources of energy. It takes into account both the current state of energy systems of various countries and their structural readiness to adapt to future energy needs.
 
Between 2013 and 2018, India improved its performance score by 5.6 percentage points, mainly with improved energy access, reduced subsidies and reduced import costs, the report said.
 
India's largest government-mandated renewable energy programme with a target of 175 GW renewable energy capacity by 2022 also found a mention in the report. The report hailed Prime Minister Narendra Modi-led government's push for 100 per cent electric vehicles sales by 2030.

The report said that recent initiatives to improve electricity access have been successful. However, the government's ambition of 24x7 electricity for all is likely to be a long haul.
 
India's energy needs, which are primarily met by fossil fuels, will have impact on environmental sustainability. The report said that the country will require huge investments, a conducive environment and robust regulatory frameworks in its energy transition journey.
 
The Indian renewable energy landscape shows promise, with subsequent renewable energy auctions clearing at prices lower than those in long-term thermal power purchase contracts. However, this has also cast uncertainty on the economic viability of thermal power plants, which account for 58 per cent of India's primary energy supply, the report said.
 
The report released by World Economic Forum further stated that Indian energy policy seeks a balance between meeting rising energy demand from increased industrialization and widening middle-class, mitigating the environmental impacts of energy generation and consumption, and improving energy security.
 
One of the main findings of the report is that worldwide progress towards environmental sustainability has stalled, while energy prices have risen in real terms in more than half of the countries surveyed despite an overall fall in fuel prices.