India is undergoing a significant renewable energy revolution, driven by ambitious goals and substantial investments .
India has emerged as a global clean energy leader adding a records of 29GW of renewable energy in the year 2024 alone , with 232 GW installed capacity and 176 GW under construction ,India’s energy transaction is driving global sustainability efforts , powered by Bold reform & visionary leadership , The country aims to achieve net-zero emissions by 2070 and is rapidly increasing its renewable energy capacity .
India’s Renewable Energy Revolution:
- Ambitious Targets: India is targeting 500 GW of non-fossil fuel-based energy capacity by 2030 .
- Growing Renewable Energy Capacity: As of March 2024, renewable energy sources (RES) and hydroelectric power constituted 32% and 11% respectively of India’s installed electricity generation capacity . The share of renewables has increased significantly from 8.9% in 2008-09 to 32% in 2023-24 .
- Solar Power Dominance: Solar energy leads the renewable energy mix, accounting for 53.4%, followed by wind power at 34.1% .
- Government Initiatives: The government is actively promoting renewable energy through initiatives like the National Green Hydrogen Mission, ethanol blending targets, and EV promotion .
- Investment and Policy Support: Policy instruments like the PLI scheme for solar PVs, with an investment of US$ 2.9 billion, signal India’s commitment to a green economy .
- EV Growth: India has seen a significant increase in EV sales, with a 50% increase from 2022 to 2023 . The government has set ambitious targets for EV sales penetration by 2030 .
- International Collaboration: The World Bank is supporting India’s solar energy push, including rooftop solar projects and collaboration with the International Solar Alliance (ISA) .
India’s renewable energy revolution is not only contributing to global climate goals but also creating a sustainable and energy-reliable future, propelling the country towards becoming a leading global power in renewable energy . for environment news click www.eminentnews.com
