Creating a sustainable world
India ranks 3rd in renewable energy country attractive index in 2021 and 3rd largest energy consuming country in the world.
The country has set an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which expands to 500 GW by 2030. This is the world's largest expansion plan is in renewable energy.
India was the second largest market in Asia for new solar PV capacity and third globally (13 GW of additions in 2021). It ranked fourth for total installations (60.4 GW), overtaking Germany (59.2 GW) for the first time.
India’s installed renewable energy capacity has increased 396% in the last 8.5 years and stands at more than 159.95 Giga Watts (including large Hydro), which is about 40% of the country’s total capacity (as on 31st March 2022). The installed solar energy capacity has increased by 19.3 times in the last 8 years, and stands at 56.6 GW as of 1st June 2022. The installed Renewable energy capacity (including large hydro) has increased from 76.37 GW in March 2014 to 159.95 GW in May 2022, i.e. an increase of around 109.4%.
India has achieved its NDC target with total non-fossil based installed energy capacity of 159.95 GW which is 41.4% of the total installed electricity capacity.
Up to 100% FDI is allowed under the automatic route for renewable energy generation and distribution projects subject to provisions of The Electricity Act, 2003.
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Renewable energy potential in India
Installed renewable energy capacity (as of May 2022)
Share in total installed capacity
4th largest installed capacity of renewable energy in the world
4th largest installed capacity of wind power in the world
Fifth-largest solar installed capacity in the world
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Renewable energy sources have a combined installed capacity of 150+ GW.
As of 31 December 2021, the total installed capacity for renewable energy in India is 151.4 GW.
The following is the break up of total installed capacity for Renewables, as of 31 December 2021:
- Wind power: 40.08 GW
- Solar Power: 49.34 GW
- BioPower: 10.61 GW
- Small Hydro Power: 4.83 GW
- Large Hydro: 46.51 GW
Government of India has set targets to reduce India’s total projected carbon emission by 1 billion tonnes by 2030, reduce the carbon intensity of the nation’s economy by less than 45% by the end of the decade, achieve net-zero carbon emissions by 2070 and expand India’s renewable energy installed capacity to 500 GW by 2030.
- 45 solar parks of aggregate capacity 37 GW have been approved in India.
- Solar Parks in Pavagada (2 GW), Kurnool (1 GW) and Bhadla-II (648 MW) included in top 5 operational solar parks of 7 GW capacity in the country
- The world’s largest renewable energy park of 30 GW capacity solar-wind hybrid project is under installation in Gujarat
- India offers a great opportunity for investments in RE sector; $ 196.98 bn worth of projects underway in India
- India ranked third globally for total renewable power capacity additions with 15.4 GW in 2021, following China (136 GW) and the US (43 GW).
- The Green Hydrogen Mission has expected outcome of generating 4.1 Mn Tonnes of annual Green Hydrogen production.
Union Budget 2022 Highlights
- Additional allocation of INR 19500 Crore for solar PLI Scheme
- Introduction of Sovereign Green Bonds in public sector projects
- 5-7% biomass pellets to be co-fired in thermal power plants, saving 38 MMT of carbon dioxide annually
Reduce India’s total projected carbon emission by 1 bn tonnes by 2030, reduce the carbon intensity of the nation’s economy by less than 45% by the end of the decade, achieve net-zero carbon emissions by 2070 and expand India’s renewable energy installed capacity to 500 GW by 2030.
Proposed solar cities and parks
1 solar city per state-approved and approval setting up 45 solar parks of 37 GW across the nation
New areas of opportunities
Wind – Solar Hybrid, Off-shore Wind Energy, Floating PV Projects, Green Hydrogen
PLI scheme in Solar PV manufacturing with financial outlays of INR 24,000 crores introduced under Atmanirbhar Bharat 3.0. Imposition of Basic Customs Duty of 25% on Solar Cell & 40% on Solar PV Modules w.e.f. 01.04.2022.
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