Improvement of energy forecasting model to safeguard energy security in India

India is one of the countries that are developing at a very fast rate. To meet the need for this rapid growth, there is a huge need of energy. India is still predominantly an agricultural based economy. To meet this huge energy need, generation of power is needed at an exorbitant rate. The power generation of India is majorly dependent on coal. India imports coal from other countries which results in an increase in the per unit cost of energy produced. Thermal power plants also have a major disadvantage of producing greenhouse gases and polluting the environment. This has resulted in an increased stress in renewable energy generation. To ensure energy security, there is a need for finding out the right mix of energy produced by various energy sources. A model is being developed to create a long term energy plan considering the Indian economy to ensure energy security.