With a generation of 1,561 terawatt-hour (TWh), India is the third largest producer and the third largest consumer of electricity in the world. Electricity production reached 360.45 GW as of July 2019. India is ranked 4th in wind power, 5th in solar power and 5th in renewable power installed capacity as of 2018. India ranked sixth in list of countries to make most investment in clean energy at US$ 90 billion.
Renewable energy is fast emerging as a major source of power in India. The Government of India has set a target to achieve 175 GW installed capacity of renewable energy by FY22. As of June 2019, government has launched US$ 5 billion of transmission-line tenders in phases and has set a target of 175 GW by 2022. In FY20 (As of July 19), total thermal installed capacity in the country stood at 227.64 GW, while renewable, hydro and nuclear energy installed capacity totalled to 80.63 GW, 45.39 GW and 6.78 GW, respectively. Wind energy is the largest source of renewable energy in India, accounting for 47.44 per cent (35.14 GW) (As of Dec 2018) of total installed renewable capacity (74.08 GW) (As of Dec 2018). As of June 30, 2019, India has an installed renewable energy capacity of 80.47 GW. There are plans to double wind power generation capacity to 60 GW by 2022. The government plans to double the share of installed electricity generation capacity of renewable energy to 40 per cent till 2030. India has also raised the solar power generation capacity addition target by five times to 100 GW by 2022. The Union Government of India is preparing a 'rent a roof' policy for supporting its target of generating 40 gigawatts (GW) of power through solar rooftop projects by 2022. All the states and union territories of India are on board to fulfil the Government of India's vision of ensuring 24x7 affordable and quality power for all by March 2019. India is on path to achieve 100 per cent household electrification by March 31, 2019, as envisaged under the Saubhagya scheme. More than 26.2 million households have been electrified under Saubhagya scheme. As of September 2018, the Government of India launched a voluntary based programme to promote energy efficient chiller systems in India. It labels the energy performance by providing star ratings and will be effective up to December 31, 2020. Under the Union Budget 2019-20, the Government of India has allocated Rs 5 crore (US$ 0.73 million) to increase capacity of Green Energy Corridor Project along with Rs 920 crore (US$ 130 million) for wind and Rs 3,005 crore (US$ 440 million) for solar power projects. Total FDI inflows in the power sector reached US$ 14.32 billion during Apr 2000 to Mar 2019, accounting for 3.48 per cent of total FDI inflows in India.
As per Economic Survey 2018-19, additional investments in renewable plants up to year 2022 would be about US$ 80 billion and an investment of around US$ 250 billion for the period 2023-2030.
The Cabinet Committee on Economic Affairs (CCEA) has approved commercial coal mining for private sector and the methodology of allocating coal mines via auction and allotment, thereby prioritising transparency, ease of doing business and ensuring the use of natural resources for national development.
The Government of India is planning to invite bids for the largest solar tender in the world, for installing 20 gigawatts (GW) of solar power capacity, to give a boost to manufacturing of solar power equipment in India.