Sineng
UPEX 2026

India Makes Significant Strides in Renewable Energy Sector in 2024, on Track for Ambitious 2030 Targets

0
451
Representational image. Credit: Canva

Indiaโ€™s renewable energy sector has experienced unprecedented growth in 2024, as the country takes significant steps toward its goal of achieving 500 GW of non-fossil fuel-based energy capacity by 2030. As of January 20, 2025, Indiaโ€™s total non-fossil fuel-based energy capacity stands at 217.62 GW, marking a milestone in the nationโ€™s clean energy transition.

In 2024, India added a record 24.5 GW of solar capacity and 3.4 GW of wind capacity, a remarkable increase driven by government incentives, policy reforms, and substantial investments in domestic solar and wind turbine manufacturing. Solar energy continued to dominate, contributing 47% of the total installed renewable energy capacity. The installation of 18.5 GW of utility-scale solar capacity represented a near 2.8-fold increase compared to 2023, with Rajasthan, Gujarat, and Tamil Nadu leading the charge.

The rooftop solar sector also saw notable growth, with 4.59 GW of new capacity installed, a 53% increase from the previous year. The PM Surya Ghar: Muft Bijli Yojana, launched in 2024, facilitated 700,000 rooftop solar installations, marking a key milestone in expanding solar access for households.

Also Read  Assam Keeps Power Tariffs Unchanged For FY 2026โ€“27, Ensuring Consumer Relief

In wind energy, India saw a 21% rise in installations, adding 3.4 GW of new capacity. Gujarat, Karnataka, and Tamil Nadu were responsible for 98% of the new wind installations, underscoring the dominant role these states play in Indiaโ€™s wind energy sector.

The Ministry of New & Renewable Energy (MNRE) has been instrumental in this growth, with key initiatives including the development of green hydrogen policies, scaling up domestic solar PV and wind turbine manufacturing, and proposed investments in grid infrastructure to support renewable energy distribution from states like Rajasthan, Gujarat, and Madhya Pradesh.

With 2024 marking a year of record-breaking capacity additions, Indiaโ€™s renewable energy sector is poised for further growth. However, addressing regulatory, financial, and infrastructural challenges will be crucial in 2025 as the country continues to make strides toward its ambitious renewable energy goals. Indiaโ€™s focus on emerging technologies and policy support positions it as a global leader in the clean energy transition.

Also Read  Enfinity Global And Mitsubishi HC Capital Energy Partner To Boost Japanโ€™s BESS Market Growth

Discover more from SolarQuarter

Subscribe to get the latest posts sent to your email.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.