Last Updated: August 07, 2018
Last Updated: June, 2018
The Indian renewable energy sector is the second most attractive1 renewable energy market in the world. The country ranks fourth2 in the world in terms of total installed wind power capacity.
Installed renewable power generation capacity has increased steadily over the years, posting a CAGR of 9.29 per cent over FY08–18. India added record 11,788 MW of renewable energy capacity in 2017-18. The focus of Government of India has shifted to clean energy after it ratified the Paris Agreement. With the increased support of government and improved economics, the sector has become attractive from investors perspective. 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.
Total installed renewable energy capacity (including large hydro projects) in India touched 114.43 GW as of May 2018, which is around 33 per cent of total energy capacity of the country.
With a potential capacity of 363 gigawatts (GW) and with policies focused on the renewable energy sector, Northern India is expected to become the hub for renewable energy in India.3
According to data released by the Department of Industrial Policy and Promotion (DIPP), FDI inflows in the Indian non-conventional energy sector between April 2000 and December 2017 stood at US$ 6.26 billion. More than US$ 42 billion has been invested in India’s renewable energy sector since 2014.
Some major investments and developments in the Indian renewable energy sector are as follows:
Some initiatives by the Government of India to boost the Indian renewable energy sector are as follows:
It is expected that by the year 2040, around 49 per cent of the total electricity will be generated by the renewable energy, as more efficient batteries will be used to store electricity which will further cut the solar energy cost by 66 per cent as compared to the current cost.* Use of renewables in place of coal will save India Rs 54,000 crore (US$ 8.43 billion) annually5.
Exchange Rate Used: INR 1 = US$ 0.015 as on March 04, 2018
Note: 1- According to Renewable Energy Country Attractiveness index by EY; 2- As per data from the Economic Survey; 3- As per the Confederation of Indian Industry's (CII) report titled 'State Renewable Energy Policies: A Comparative Study' ;*According to the Bloomberg New Energy Outlook 2017; ** Data from Venture Intelligence; 4 – as per Greentech Media; 5 – Greenpeace India
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Last Updated: August 07, 2018
In India, agriculture and its allied sectors are the primary source of livelihood for a large chunk of domestic population. In 2017...
Improvements in human resources (HR) practices and technology are a key reason for the continuous rise of India's technology sector. However, the growth of the tech s...
Most businesses are dynamic, with processes and objectives that are constantly developing. In order to keep the processes within a business streamlined and efficient as w...
Leather is a prominent industry in India. The main sectors from which its demand is derived are fashion, footwear, furniture, interiors and automotive. While the Indian l...
NBFCs are quickly adopting to the best-in-class technology to bring about disruption and foster future growth
The Indian lending industry, significantl...
Founder and Managing Director of The Mobile Wallet, Vinay Kal...
Zuper: Dynamic Disruptor
Zuper is a B2B Software as a Service (SaaS) offering for organizations, irrespective of shape and size. It is the first in Asia to offer voice biometrics-based timesheet management of workforce. Zuper offers an end to end platform to bring together the power of people, process, product and promise. ...