India’s renewable energy capacity soars 420% in June, solar now cheaper than coal

India’s renewable energy sector witnessed a remarkable 420% YoY surge in capacity addition in June 2025, growing from 1.4 gigawatt (GW) in June 2024 to 7.3 GW this year, Union Minister for New and Renewable Energy, Mr. Pralhad Joshi announced at the Indian Venture and Alternate Capital Association (IVCA) Renewable Energy Summit held in Mumbai. He underscored the country’s clean energy progress, highlighting a staggering 4,000% rise in solar capacity, from just 2.82 GW to 117 GW by 2025. Wind energy also registered a significant 140% jump, rising from 21 GW to 51.7 GW during the same period. Additionally, solar tariffs have plummeted by 80% over the last decade, from Rs. 10.95 (US$ 0.13) per unit in 2010-11 to Rs. 2.15 (US$ 0.025) per unit in 2025, making solar with battery storage cheaper than thermal power.
According to him, India attracted Rs. 42,000 crore (US$ 4.88 billion) in clean energy Foreign Direct Investment (FDI) in 2023 alone, contributing to a cumulative FDI inflow of over Rs. 1,60,000 crore (US$ 18.60 billion) since 2020. In Q1 2025, clean energy investments soared 7.7 times YoY to Rs. 84,309 crore (US$ 9.8 billion). Mr. Pralhad Joshi also cited India’s largest waste-to-energy plant in Ahmedabad, which processes 1,000 tonnes of solid waste daily into electricity, as a symbol of inclusive green growth. With 83% of 2024’s power sector investments directed towards renewables, he urged investors to continue participating in this high-growth, climate-aligned sector that benefits not just the environment but also cities, farmers, and communities. 

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