India’s Renewable Energy Hits 33.87% Of Total Power Mix In August 2024, Solar Power Grows By 24.89%

India is making steady progress in renewable energy, aligning with its national goals and global climate commitments. Despite coal still accounting for 46.8% of the country’s total installed power capacity, renewable energy sources like solar and wind are gaining importance. By August 2024, renewable energy sources made up 33.87% of the total installed capacity, highlighting India’s transition to cleaner energy.

From January to August 2024, India added approximately 16.113 GW of solar PV capacity, with renewables (excluding large hydro) contributing 18.768 GW. Solar energy accounted for 58.58% of this renewable capacity. By August 2024, solar power constituted 19.84% of the total installed power capacity, showing a growth rate of 24.89% compared to the previous year and reaching a total of 89.43 GW. India’s overall installed power capacity increased by about 6.24%, bringing it to 450 GW by August 2024.

Investments in renewable energy not only support environmental goals but also stimulate job creation, enhance energy security, and promote technological innovation. Decentralized renewable energy projects, especially in rural areas, empower local communities and distribute the benefits of clean energy more widely. This approach helps national development and economic growth.

Looking ahead, India’s renewable energy sector is set for further growth. The government aims to add over 18 GW of solar PV capacity in 2024, moving closer to its target of 100 GW. This growth positions India as a global leader in solar power. Policies like the Approved List of Models and Manufacturers (ALMM) for Solar PV Modules, effective from April 1, 2024, aim to streamline procurement and ensure higher-quality solar products.

India’s ongoing commitment to renewable energy is essential for addressing climate change, securing energy supplies, and driving economic progress. The shift towards renewables, despite continued reliance on coal, marks a significant step in diversifying energy sources and enhancing national energy security.