India's Renewable Energy Sector Booms with Record Capacity Addition and Green Hydrogen Expansion
Key Ideas
- India achieved a record addition of 25 GW of renewable energy capacity in FY25, with a significant increase in solar energy sector contributions.
- The country saw substantial growth in domestic solar manufacturing, with module manufacturing capacity nearly doubling and solar PV cell manufacturing capacity tripling.
- Expansion in the Green Hydrogen sector was notable, with significant incentives awarded for electrolyser manufacturing and Green Hydrogen production, along with funding for pilot projects in the steel and transport sectors.
- Key government schemes like PM Surya Ghar Muft Bijli Yojana and PM-KUSUM witnessed remarkable progress, benefitting households with rooftop solar installations and increasing the number of solar pumps installed/solarised.
India's Ministry of New and Renewable Energy (MNRE) reported a remarkable achievement in the renewable energy sector during the financial year 2024-25. The country witnessed a record addition of 25 GW of capacity, representing a 35% increase compared to the previous year. The growth was predominantly driven by the solar energy sector, which experienced a substantial rise in capacity additions, surpassing 100 GW of installed solar capacity. India also showcased significant progress in domestic solar manufacturing, with a significant increase in module and solar PV cell manufacturing capacities. The inauguration of the first ingot-wafer manufacturing facility further bolstered the country's solar manufacturing capabilities.
The Indian government's focus on promoting Green Hydrogen was evident through incentives worth Rs 2,220 crore for electrolyser manufacturing and Rs 2,239 crore allocated for Green Hydrogen production. The National Green Hydrogen Mission funded multiple pilot projects aimed at decarbonizing the steel and transport sectors, emphasizing the country's commitment to clean energy solutions.
Furthermore, initiatives like the PM Surya Ghar Muft Bijli Yojana and PM-KUSUM scheme made significant strides in promoting rooftop solar installations and solar pumps, respectively. The PM-KUSUM scheme, in particular, witnessed a substantial increase in the number of pumps installed and solarised, reflecting the growing adoption of solar energy in the country.
The Indian Renewable Energy Development Agency (IREDA) played a vital role in financing clean energy projects, with a notable rise in loan sanctions and disbursements. This comprehensive progress underscores India's commitment to renewable energy, sustainable manufacturing, and the adoption of clean energy technologies.
Topics
India
Green Hydrogen
Renewable Energy
Solar Power
Environmental Sustainability
Government Schemes
Manufacturing Growth
Employment Generation
Clean Energy Financing
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