Energy Transition Index
Context:
The World Economic Forum ranked India at the 67th place globally on its Energy Transition Index.
About Energy Transition Index:
- Published by: the World Economic Forum in collaboration with Accenture.
- It tracks the performance of energy systems of countries across:
- Economic development and growth
- Environmental sustainability
- Energy security
- Access indicators and their readiness for transition to secure, sustainable, affordable and inclusive energy systems
- Top 5 Countries on the List of 120 Countries:
| Rank | Country |
| 1 | Sweden |
| 2 | Denmark |
| 3 | Norway |
| 4 | Finland |
| 5 | Switzerland |
- France (7) is the only G20 country in the top 10.
- Singapore is another major economy, along with India, showing momentum in sustainability, energy security, and equity.
- Out of 120 countries, 113 have made progress over the last decade.
- Only 55 countries, including India, have improved their scores by more than 10 percentage points.
- Towards clean energy transition: Despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively managing affordability of electricity.
- Reasons for improved performance: Achieving universal access to electricity, replacing solid fuels with clean cooking options and increasing renewable energy deployment have been primary contributors to the improvement of India’s performance.
- Insulation from global disruption: India also emerged relatively less affected from the recent energy crisis, largely due to the low share of natural gas in power generation and increased use of existing generation capacities.
- Areas demanding improvement:
- Although the country maintains a well-diversified mix of energy trade partners, rising import dependence represents a risk amid global energy market volatilities.
- The energy mix, however, remains predominantly carbon intensive, with a low share of clean energy in final demand.
- The pace of thermal power plant expansion has considerably slowed in India, though strategies for early retirement or repurposing of the existing fleet will be crucial.
- Continued progress will be challenged by two key macro trends: strong economic growth, and the urgency to create quality jobs for a growing working age population.