Context:
India’s renewable energy (RE) sector saw remarkable growth in 2024, with significant strides in solar and wind energy, setting the stage for ambitious goals in 2025.
- India’s total non-fossil fuel-based energy capacity reached 217.62 GW by January 2025, moving towards the target of 500 GW by 2030.
- India also looks forward to expanding the capacity to 99.9 GW by 2029-30 in major wind energy-producing states like Andhra Pradesh, Gujarat, Karnataka, Maharashtra, Rajasthan, Kerala, etc.
Key Points from 2024:
- Solar Capacity: India added a record 24.5 GW of solar capacity, more than doubling the installations from 2023. Solar energy now makes up 47% of the country’s total renewable energy capacity, with Rajasthan, Gujarat, and Tamil Nadu contributing 71% of new utility-scale solar installations.
- Wind Capacity: India added 3.4 GW of new wind capacity, marking a 21% increase from 2023. Gujarat, Karnataka, and Tamil Nadu were the leaders in wind power additions.
- Rooftop Solar: The rooftop solar sector grew by 53%, adding 4.59 GW, supported by the PM Surya Ghar: Muft Bijli Yojana, which facilitated 700,000 installations. The off-grid solar segment grew by 182%, adding 1.48 GW. It also includes Initiatives like solar parks (50 parks across 12 states).
Steps taken by the Ministry of New & Renewable Energy (MNRE)
- Green Hydrogen: Efforts to develop green hydrogen policies aimed at reducing costs and attracting investments.
- Manufacturing Expansion: Growth in domestic solar PV and wind turbine manufacturing to support India’s ambition as a global clean energy hub.
- Grid Infrastructure: Investment in inter-state transmission systems to transport renewable energy from key states like Rajasthan, Gujarat, and Madhya Pradesh.
- Foreign direct investment: The government has also allowed 100% foreign direct investment (FDI) in renewable energy projects, aiming to support cleaner energy sources.
- Net Zero: India has committed at the 26th session of the Convention on Climate Change (COP 26) to achieve net zero by 2070 and is focusing on expanding wind energy, with capacity increasing from 23.93 GW in 2014 to 47.95 GW.
- Sustainable Alternative Towards Affordable Transportation (SATAT): It has been launched as an initiative to set up a Compressed Bio-Gas (CBG) production plant and make CBG available in the market for use in automotive fuels.
As India heads into 2025, addressing regulatory, financial, and infrastructural challenges will be crucial for achieving its renewable energy targets and solidifying its position as a global clean energy leader.