India's Remarkable Growth in Renewable Energy Sector in FY 2024-25
Key Ideas
  • India added an unprecedented 25 GW of renewable energy capacity in FY 2024-25, with solar power leading the growth and surpassing 100 GW of installed capacity.
  • Significant expansion in solar module and PV cell manufacturing capacities, along with the commencement of the first ingot-wafer manufacturing facility, highlights India's push for self-reliance.
  • The country saw remarkable progress in PM Surya Ghar Muft Bijli Yojana and PM KUSUM Scheme, benefiting households and promoting solar adoption, with notable financial investments and increased pump installation/solarization.
  • India's Green Hydrogen sector made strides with substantial incentives for electrolyser manufacturing and Green Hydrogen production, funding pilot projects in decarbonizing steel and transport sectors.
India has made remarkable progress in the renewable energy sector in the fiscal year 2024-25, adding 25 GW of capacity, a 35% increase from the previous year. The solar power sector led this growth, witnessing a 38% increase and surpassing 100 GW of installed capacity. The country focused on enhancing its self-reliance by significantly increasing solar module and PV cell manufacturing capacities, along with starting the production of ingot-wafer. Government schemes like PM Surya Ghar Muft Bijli Yojana and PM KUSUM Scheme showed impressive results in promoting solar energy adoption and benefiting households. The Green Hydrogen sector also received substantial incentives and funding under the National Green Hydrogen Mission for manufacturing and production, supporting pilot projects for decarbonization in various sectors. Additionally, the Indian Renewable Energy Development Agency played a crucial role in financing clean energy projects. The Union Minister of New and Renewable Energy praised Prime Minister Modi's vision for India to become a significant renewable energy capacity holder globally, emphasizing the country's commitment to a sustainable energy future.
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