How the Digital Drive of India Will Affect Power Sector?
Article by Manoj Kumar Chaudhary, Founder & Director , Vensor Electricals Pvt. Ltd.
Digital technologies have drastically changed our way of living, travel and entertainment. It is serving us with advanced security, efficiency, innovations, and sustainability of power schemes everywhere in the world. But, then again its rising problem of new-fangled safety and confidentiality risks is creating trouble in markets, businesses and workforces.
The report inspects the influence of digital technologies on the power sector of India, request divisions, appearances in which way power providers can custom digital gears to advance processes, and discover the transformational probability of digitalisation to benefit to generate an extremely unified power system.
This statement pursues to deliver better clearness to the choice creators of government and manufacturers on what digitalisation means for energy, and maximum demanding trials. It similarly puts out no-regret references to support steer India on the way to a further secure, justifiable and keener power future.
Over the approaching periods, digital technologies are usual to make systems everywhere in the world extra associated, smart, well-organized, consistent and sustainable. Striking advances in data analytics and connectivity are allowing an array of new-fangled digital requests such as keen applications, communal flexibility, and 3D printing. Digitalised power systems in the upcoming future might be intelligent enough to recognize who wants energy and bring it at the correct time, in the correct place and at the lowermost cost. But, receiving the whole thing right will not be relaxing or easy.
Digitalisation: A new era in Power?
In a situation of different adversaries after the upsurge of the novel virus, Covid-19, the power sector of India had to overcome operational hurdles and adopt different digital technologies and platforms for a better workforce, customer service and increase robustness in the company infrastructure and for keeping business continuity as a Priority. With the help of digitalized modes of payments, work and education the world globally has been able to cope with the most difficult times.
How would the digital drive affect the power sector
The dream of increasing the digital drive of India roots back in 2015, when the honourable Prime minister of India, Shri Narendra Modi Ji, launched digital India, a flagship programme whose vision is to transform India into an entitled economy. Only 19% of the Indians were digitally connected and 15% of them had a Smart Phone. With a huge investment, the present government has successfully digitalised India.
The power sector also would benefit from this new digital drive. With its introduction, the power sector is expecting to install Smart Metres everywhere and online mode of electricity bill payment has also been possible.
The power distribution companies account for at least 1.25 crore losses while transmitting and distributing electricity which is 20% of the total energy generated. This problem of huge losses can be brought down by up to 5% loss with the installation of smart metres in every space.
With the smart digital transformation, the Indian Economy is supposed to save at least Rupees 10 Crore in 10 years. Which is quite a large amount, and this surplus money can rather be invested to create renewable sources of energy. According to the visions of the BJP government, India should depend on Renewable sources of energy against the current statistics which is just 15%. The money saved from the installation of smart metres can thus be used to create more Renewable sources of energy.
This, the new digital drive is going to empower both economically and environmentally. The new digital drive has also brought in Convenience, both for the Energy producing companies and their consumers. Electricity bill payments can now be paid just with a single touch on our phone screen. And, the consumers also got access to a lot of information through this.
Impacts on the manufacturers of electrical products – The private sector is expected to witness considerable growth with the recent investment in the NIP as the power sector challenges to create a robust infrastructure and digitalize millions of homes in India. With a new demand in the market, many companies like Vensor, Havells, Finolex, Rallison are putting on more effort into creating better services even though they are already known for their best and most efficient quality.
Challenges – The present scenario, however, isn’t very happening. Only a few percentages of residents have shifted to digital smart metres. People often fear risks and threats in the world of the internet and does not want to switch to the same. However, the government is trying to focus on the challenges and succeed accordingly. The high costs, the contrasting attitude of common citizens and government personnel, poor educational quality are also going to be major challenges to be faced by the government while the digitalization of India.
Conclusion- In short, we can conclude that the digital drive has more good impacts than bad. Latest innovations have successfully been reducing the threats and are trying to empower India with digital power and help improve the power sector and its infrastructure.