India's Ambitious Renewable Energy Goals: Minister Joshi Highlights Progress and Future Plans
Key Ideas
  • India is making significant progress towards its goal of installing 500 GW of non-fossil fuel-based energy capacity by 2030, with the current renewable energy capacity reaching 203 GW.
  • Solar and wind energy capacities have seen substantial growth, with ongoing projects and tenders indicating a promising future for the renewable energy sector.
  • Efforts to boost domestic manufacturing of solar modules and cells are underway, with plans to increase capacity in the coming years to enhance self-reliance.
  • The government's substantial budget allocation for renewable energy, amounting to ₹210 billion this year, demonstrates a strong commitment towards achieving renewable energy targets.
Minister of New and Renewable Energy, Pralhad Joshi, highlighted India's positive trajectory towards achieving its ambitious renewable energy targets during a debate in the Rajya Sabha. The country is well on track to install 500 GW of non-fossil fuel-based energy capacity by 2030, with the current renewable energy capacity standing at 203 GW, a significant increase from 76.4 GW in 2014. The installed solar capacity has reached 85.47 GW, and wind capacity stands at 46.65 GW as of June 2024. Projects with a capacity of 104 GW in solar energy and 46.6 GW in wind energy are under implementation, indicating further growth. Minister Joshi also emphasized efforts to enhance domestic solar manufacturing capacity, with current solar module capacity at 60 GW set to grow to 100 GW in three years. Plans are in place to increase solar cell manufacturing capacity from 6 GW to 18 GW in the coming months, with a target of 25-30 GW by March 2025. To support domestic manufacturing and improve competitiveness, the Basic Customs Duty on renewable energy equipment has been increased. The government's budget allocation for renewable energy this year is ₹210 billion, reflecting a strong financial commitment. Various programs like PM Surya Ghar, PM KUSUM, and the National Hydrogen Mission, among others, have received significant investment totaling ₹1.6 trillion over the years. Minister Joshi noted a 165% increase in renewable energy capacity over the past decade, positioning India as the fourth-largest globally. While acknowledging challenges related to land acquisition for projects, the ministry is actively collaborating with state governments to address these issues. The recent Mercom India Renewables Summit saw Minister Joshi presenting awards to distinguished winners, recognizing their contributions to the renewable energy sector. Overall, the article portrays a positive outlook on India's renewable energy progress, highlighting achievements, future plans, and government support.
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