India has increased its investments in renewable energy in recent years. Traditional energy sources that rely on hydrocarbon resources are being replaced with green energy including solar, wind, and hydrogen. The impact may be slow, but a huge disruption can be expected.
India has not developed renewable energy until 2010. However, it has become one of the fastest growing renewable energy markets in the world over the past decade.
With about 160 GW of renewable energy capacity now, India intends to add about 30 GW over the next eight years. Such as fasts pace has helped India developed capacity in constructing utility-scale projects like Bhadla Solar Park, the world's largest solar power facility.
India has also made significant progress in domestic module production capacity in recent years, but it still needs more aggressive output and strategies to meet the national goal of 280 GW of solar power generation capacity by 2030.
However, India has seen many start-ups in renewable energy sectors and has made considerable investments in R&D. It’s now one of the most profitable regions to global investors.
Energy access and security are two major difficulties in India's energy development. The nation therefore needs to implement a decentralized distributed generation model using green energy, such as hydrogen, to ensure the intermittent supply to the last mile.
India’s Central Electricity Authority predicts that solar and wind power would account for 51% of installed capacity by 2030, up from 23% in 2021, while the nation's reliance on coal will decline from 53% to 33% of total capacity by that time.
To develop renewable energy sectors in India, it must focus on promoting economic growth, enhancing energy security, increasing energy access, and reducing climate change.
Additionally, renewable energy can create jobs at all levels, including in rural India. It can draw foreign investment to kickstart a Green Energy Revolution in India if there was a focus on accurately portraying the country's enormous potential for renewable energy.
