India's Renewable Energy Sector: A Bright Future Ahead
Key Ideas
  • India's solar capacity has shown remarkable growth, surging from 2.6 GW in 2014 to 91 GW presently, with projections aiming for nearly 300 GW by 2030.
  • The renewable energy sector in India is on a significant upswing, with capacity expected to reach 500 GW by 2030, driven primarily by solar power.
  • Government initiatives like PM Surya Ghar and PM KUSUM, along with substantial investments totaling Rs. 8.5 lakh crore, are propelling the growth of renewable energy in the country.
  • The emphasis on the Green Hydrogen Mission, with a target of 7.7 metric tonnes of green hydrogen by 2030 and 15 GW of electrolyser capacity, shows India's commitment to sustainable energy development.
The renewable energy sector in India, particularly in solar power, is witnessing rapid growth and is set to dominate the power industry in the country. Prashant Kumar Singh, Secretary of the Ministry of New and Renewable Energy, highlighted the substantial progress made in the sector during a Brainstorming Conclave organized by the Central Electricity Authority in New Delhi. With solar capacity increasing from 2.6 GW in 2014 to 91 GW currently and a projected target of nearly 300 GW by 2030, the future looks promising. Initiatives like PM Surya Ghar and PM KUSUM are driving this growth, supported by advancements in manufacturing capabilities. The government's focus on the Green Hydrogen Mission, aiming for 7.7 metric tonnes of green hydrogen and 15 GW of electrolyser capacity by 2030, showcases a commitment to sustainable energy. Significant investments in the renewable energy sector, totaling Rs. 8.5 lakh crore, coupled with schemes like the Production-Linked Incentive and the Green Hydrogen Mission, are shaping a bright future for renewable energy in India. The event also emphasized research and development milestones, including the National Physical Laboratory's development of a reference solar cell, underlining the sector's advancements and potential for further growth.
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