The Union Power Minister RK Singh on Thursday said that all homes in India will be provided uninterrupted 24-hour electricity supply throughout the year. Although a welcome move, it can take a hit on the companies that sell inverter across the country.
Earlier, reports suggested that the power backup industry is expected to surge due to the regular power cuts in the country especially during the dry season. So till now, the power outage in India is largely met through the installation of inverters and generators.
However, with the government's efforts to reduce power cuts close to zero, this might bring down the demand for power backups substantially.
Singh also said that by the end of next year, 1,694 villages which still does not have access to electricity will have power connection and the work is also in progress.
He further added that a new law will be enacted to impose penalties on power distributors if they failed to provide uninterrupted power after March 2019. Only technical reasons will be taken under consideration.
The government has set a target of cutting down the transmission and distribution (T&D) losses of power to 15 percent from 21 percent at present by January 2019.
The Power Minister also said that the Centre will also spend Rs 1,75,000 crore to improve the power infrastructure in the country.
Reports also suggest that to expand electricity supply, the government also aims to distribute solar panels with battery packs to households in areas that are too remote for transmission lines.
"India, which wants renewable power sources excluding major hydropower plants to account for 40 percent of installed capacity by 2030, would also push states to deliver on commitments to supply power from clean sources," said Singh.
