Renewable Energy
The Indian renewable energy sector was the second most attractive in the world in 2017.

Indian Renewable Energy Industry Analysis

Latest update: August, 2018

  • India accounts for approximately 4 per cent of the total global electricity generation and contributes 4.43 per cent to the global renewable generation capacity.
  • The International Energy Agency’s World Energy Outlook projects a growth of renewable energy supply to 4,550 GW in 2040 on a global basis.
  • As of February 2018, total renewable1 power generation installed capacity in the country stood at 107.81 GW, which is 32.26 per cent of the total installed capacity of 334.15 GW.
  • A hydro power revival policy is underway which amongst others is likely to include the classification of all hydro power projects as renewable energy
Growth

Notes: RES – Renewable Energy Source; GW – Gigawatt; FY18*- Breakup up to December 2017, 1Large Hydro power projects not included in renewable energy targets of GOI
Source: CEA, International Renewable Energy Agency (IRENA)

  • Power generation from renewable energy sources in India reached 85.65 billion units in FY18 (up to January 2018).
  • The Government of India has formulated an action plan to achieve a total capacity of 60 GW from hydro power and 175 GW from other RES (excluding large hydro projects) by March, 2022, which includes 100 GW of Solar power, 60 GW from wind power, 10 GW from biomass power and 5 GW from small hydro power
  • Solar installation in India is expected to increase 360 per cent by 2020.
  • India witnessed highest ever solar power capacity addition of 5,525.98 MW and 467.11 MW of wind power capacity addition in 2017-181. 15,000 biogas plants were installed during the same time period.
  • About 4.96 million household size biogas plants have been installed in India since the inception of National Biogas and Manure Management Programme (NBMMP).
Growth

Notes: RES – Renewable Energy Source; GW - Gigawatt, CAGR - Compound Annual Growth Rate; FY18* - data up to February 2018, Large Hydro power projects not included in renewable energy targets of GOI
Source: CEA, makeinindia

Last Updated: August, 2018

The Indian renewable energy sector is the fourth most attractive renewable energy market in the world as per the Renewable Energy Attractiveness Index 2018. India’s installed renewable power (grid interactive) generation capacity (including hydropower) increased from 42.4 gigawatts (GW) in FY07 to 116.82 GW in July 2018, which is 33.72 per cent of the total installed capacity. Power generation from renewable energy sources in India reached 101.84 billion units in FY18 and 17.70 billion units in April-May 2018.

India has the fourth largest installed capacity of wind power and the third largest installed capacity of concentrated solar power (CSP). India added record 11,788 MW of renewable energy capacity in 2017-18 and 1,832.26 MW (grid interactive and off-grid) in April-July 2018. Large hydro projects form the largest source of renewable energy. Around 1,739.14 MW of wind power capacity was added in 2017-18.

The Ministry of New and Renewable Energy, Government of India, has formulated an action plan to achieve a total capacity of 60 GW from hydro power and 175 GW from other RES by March, 2022, which includes 100 GW of Solar power, 60 GW from wind power, 10 GW from biomass power and 5 GW from small hydro power. This has been proving to be the major thrust for the sector in India as the market players have sufficient incentives to move to clean source. As of June 2018, Government of India is aiming to achieve 225 GW of renewable energy capacity by 2022, much ahead of its target of 175 GW as per the Paris Agreement. Under Union Budget 2018-19, Rs 3,762 crore (US$ 581.09 million) has been allocated for grid-interactive renewable energy schemes and projects.

As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role. By 2030, renewable sources are expected to help meet 40 per cent of India’s power needs. New investments in clean energy in the country reached US$ 11 billion in 2017. In the first half of 2018, investments in clean energy increased 22 per cent year-on-year. The non-conventional energy sector has received a total FDI equity inflow of US$ 6.84 billion between April 2000 and June 2018.

Indian Renewable Energy Industry Report (August, 2018)

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Indian Renewable Energy Industry Report (July, 2018)

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