India's Ambitious Goals: Leading the Way in Solar Energy and Green Hydrogen
Key Ideas
- India aims to produce 5 million metric tonnes of green hydrogen by 2030, supported by 125 GW of renewable energy capacity, demonstrating a commitment to sustainable energy solutions.
- Union Minister Pralhad Joshi highlighted the rapid growth in global solar investments, which are expected to reach $500 billion by the end of 2024, driving down the cost of solar energy worldwide.
- The International Solar Alliance, guided by the 'Towards 1000' strategy, plans to mobilize $1,000 billion in solar energy investments by 2030, with goals to deliver energy access, install 1,000 GW of solar energy capacity, and mitigate emissions.
- India's leadership under Prime Minister Narendra Modi has led to significant milestones in renewable energy, with achievements like reaching 90 GW of installed solar capacity and setting a goal of 500 GW of renewable energy capacity by 2030.
India is making significant strides in the renewable energy sector, with a focus on solar energy and green hydrogen production. Union Minister Pralhad Joshi highlighted the increasing global investments in solar energy, surpassing coal and gas in affordability. The country has ambitious targets, including producing 5 million metric tonnes of green hydrogen by 2030 and achieving 125 GW of renewable energy capacity to support this goal. The International Solar Alliance (ISA) is leading the way with the 'Towards 1000' strategy, aiming to mobilize $1,000 billion in solar energy investments by 2030. Under Prime Minister Modi's leadership, India has achieved remarkable milestones, reaching 90 GW of installed solar capacity and setting a broader target of 500 GW of renewable energy capacity by 2030. The commitment to renewable energy is reflected in the Union Budget for 2024-25, with increased funding for solar power projects and support for initiatives like the PM-Surya Ghar Muft Bijli Yojana. India's efforts extend globally through the ISA, which has completed demonstration projects and launched initiatives like the Global Solar Facility to unlock commercial capital for solar projects in underserved regions. The country is also focusing on solar innovation and empowering communities to generate their own renewable energy through rooftop installations. With the establishment of the Green Hydrogen Innovation Centre and upcoming initiatives at COP29, India continues to drive progress in solar energy research and development on the global stage.