India’s Renewable Energy Revolution: A Global Leader
India is experiencing a significant transformation in its energy sector, particularly in renewable energy. Union Minister for New and Renewable Energy, Shri Pralhad Joshi, recently highlighted this progress at the 5th CII International Energy Conference and Exhibition in New Delhi. He emphasized that India is not only undergoing an energy revolution but is also on its way to becoming the renewable energy capital of the world. Under the leadership of Prime Minister Narendra Modi, India is emerging as a key player in the global clean energy landscape. This article explores the current state of renewable energy in India, the government’s initiatives, and the future goals set for sustainable growth.
India’s Growing Renewable Energy Capacity
India’s renewable energy capacity has seen remarkable growth in recent months. Between April and November of the current financial year, the country added nearly 15 gigawatts (GW) of renewable energy capacity. This figure is almost double the 7.54 GW added during the same period last year. The total installed capacity in the non-fossil fuel energy sector has now reached 214 GW, marking an increase of over 14% compared to the previous year. Notably, in November 2024 alone, India added 2.3 GW of new capacity, a significant increase from the 566 megawatts (MW) added in November 2023.
Shri Joshi pointed out that India is committed to achieving 500 GW of non-fossil fuel-based capacity by 2030. This ambitious target is part of a broader strategy to ensure sustainable energy growth while maintaining low per capita emissions. Despite having one of the largest coal reserves globally, India has managed to keep its per capita emissions at one-third of the global average. This achievement underscores India’s commitment to environmental sustainability and its role as a leader in the fight against climate change.
Government Initiatives to Boost Renewable Energy
The Indian government has implemented several key initiatives to promote the growth of the renewable energy sector. One of the most significant measures is the introduction of the Production-Linked Incentive (PLI) scheme, which has an outlay of ₹24,000 crore. This scheme aims to enhance domestic manufacturing of solar panels and modules, thereby reducing reliance on imports.
Additionally, the government is working on establishing 50 solar parks with a cumulative capacity of 38 GW by 2025-26. These parks will provide the necessary infrastructure to support large-scale solar energy projects. The government has also set a trajectory for the Renewable Purchase Obligation (RPO) up to the year 2029-30, ensuring a steady demand for renewable energy.
Another noteworthy initiative is the PM Surya Ghar Muft Bijli Yojana, which aims to install 1 crore solar systems by 2026-27, with an investment of ₹75,021 crore. These initiatives reflect the government’s commitment to fostering a robust renewable energy ecosystem in India.
International Collaboration and Future Goals
India’s efforts in renewable energy are not going unnoticed on the global stage. The Union Minister highlighted the role of the International Solar Alliance, which includes 120 countries as signatories. This alliance serves as a platform for international collaboration in solar energy development. The Minister stated that what India is doing in renewable energy is being closely watched and adopted by several countries worldwide.
Looking ahead, the Indian government is planning a meeting in Mumbai in January with representatives from banks, industry, and state officials. The goal of this meeting is to address existing bottlenecks in the renewable energy sector and find solutions to enhance growth. Minister Joshi also invited global leaders and industry stakeholders to partner with India in its journey toward a green and sustainable future.
At the conference, the Minister launched the CII-EY Energy Transition Investment Monitor Report, further emphasizing the importance of collaboration and investment in the renewable energy sector. The theme of the conference, “Global Dialogue on Energy Transformation,” reflects the evolving landscape of energy production and consumption worldwide.
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