India's renewable energy capacity grows three-fold to 232GW in last decade

India has witnessed a threefold increase in its renewable energy capacity over the past decade, with the installed green energy capacity reaching 232GW, including large hydropower plants, compared to 75.52GW in March 2014. The country has emerged as a global front-runner in the renewable energy space. The tariff of grid-connected solar power plants has decreased by 80% to Rs.10.95 (US$ 0.13) per unit. In March 2014, India's installed solar energy capacity was 2.82GW, now crossing 108GW. Wind energy capacity has more than doubled to 51GW from 21GW in 2014. In 2024, India became a global leader, with solar module manufacturing skyrocketing to 90GW. By 2030, the nation aims to reach an impressive 150GW. India has built a strong foundation with 25GW solar cell production and 2GW wafer production. The country has planned solar cell and wafer capacity of 100GW and 40GW, respectively, by 2030 to reduce dependence on imports and become a self-sustaining powerhouse. Even in fully integrated production, the country has reached 3.2GW in 2024, with a target of 24GW by 2030. 
Similarly, the bio-power generation capacity has increased by 42% from 8.1GW to 11.5GW over the last ten years. The Compressed Biogas (CBG) sector expanded from a single project with 8 tonnes per day (TPD) CBG generation capacity in 2014 to 150 projects with a cumulative capacity of 1,211TPD in 2024. The PM-Surya Ghar Muft Bijli Yojana has gained significant traction, benefitting almost 13.3 lakh households, with nearly 12 lakh installations in the past ten months. India added a record 25GW of renewable energy capacity in 2024, 34.63% higher than the 18.57GW achieved in the previous year. India has set an ambitious target of having 500GW of renewable energy capacity by 2030, which requires the addition of about 50GW of green capacity per annum in the next five to six years. Four renewable energy implementing agencies (REIA), SECI, NTPC, NHPC, and SJVN, have collectively issued RE power procurement tenders of around 44GW in FY25. In April 2024, India became the world's third-largest electricity producer of wind and solar energy, overtaking Germany.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.