Fall in prices of essential commodities.

The International Energy Agency has reported that the prices of important minerals used in electric vehicles and renewable technology have fallen sharply. Increased investment in this area is essential to reach the goals set for global climate change. According to this report by the IEA, a sharp drop in prices has been seen for critical minerals in battery manufacturing such as lithium, cobalt, nickel, and graphite. While the current price level is ideal, this may not continue to be the case in the future. Demand for these minerals is likely to double by 2040. A safe and sustainable supply of these minerals is also essential if smooth and affordable clean energy transactions are to take place, as indicated by the IEA.

The e-vehicle revolution

The Green premium has changed to green discount, a policy aimed at leapfrogging the electric vehicle sector. Government interest in this sector, consumer acceptance and rapid growth in technology are setting the stage for such a shift. Investment in this sector is expected to increase to forty per cent by 2040. The incentives and subsidies of the central and state governments are the reason for this change. The manufacturing cost of e-vehicles has come down. Therefore, the consumer is relieved from the burden of high prices. Due to Faster Adoption and Manufacturing of Hybrid and Electric (FAMHE), various subsidies are available for the purchase of electric vehicles. A big improvement is also aimed at charging stations. Due to these reasons, the number of people investing in this field is increasing exponentially. All over the world, there is a shift from conventional energy use to eco-friendly energy use. In Western countries, 1.5million sectors of auto industries have changed like this. In India, such things are in their infancy. It is in such a situation that the concept of green discount becomes important. The boom in the market is due to lower manufacturing service costs and better services from green energy.

Peak demand in the national capital to record

The National Capital City recorded a high peak demand of 8000 MW on May 20 afternoon. This information was recorded by the SLDC Delhi Unit. BSES listed its two Discoms BRPL and BYPL as 3274 MW and 1664 MW respectively. In Uttar Pradesh, the peak demand was 27578 MW on 19th May. Power demand is recorded in Haryana as 10030 MW and in Punjab as 13056 MW. Coping with peak consumption. The government has taken measures to cope with the increased peak consumption during May and June. 235 GW is expected in May and 240 GW in June. A strict directive has been given that all thermal and coal plants in the country should work at full capacity. The Ministry of Power has indicated that the plan to meet this demand is to avoid the plant maintenance that was to be done in May and June and to do them in the following months. But it remains to be seen how well such temporary measures can cope with increasing energy use.