In line with its national goals and global climate commitments, India is making steady progress in renewable energy. Solar and wind generation are gaining importance as renewable energy sources, despite coal still being the nation's largest energy source. India has made significant strides towards cleaner energy sources, as renewable energy sources make up 34.14 percent of the total installed capacity as of September 2024.
Over the period January to September 2024, solar PV capacity in India increased by 17.44 GW, while renewable energy (excluding large hydro) increased by 20.64 GW. A total of 58.73% of this renewable energy capacity was generated by solar energy. The total installed power capacity in September 2024 was 90.76 GW, representing 20.05 % of the total installed power capacity and an increase of 26.44 % from the previous year. By September 2024, India's overall installed power capacity reached 453 GW, an increase of approximately 6.41%.
Renewable energy investments boost employment growth, improve energy security, and foster technological innovation in addition to helping the environment. Decentralized renewable energy projects disperse the advantages of clean energy more widely and empower local populations, particularly in rural areas. National development and economic prosperity are aided by this strategy.
There will be further growth in India's renewable energy industry in the future. The government intends to add more than 21 GW of solar PV capacity in 2024 in order to get closer to its 100 GW target. With this expansion, India is currently the global leader in solar power. Policies like the Approved List of Models and Manufacturers (ALMM) for Solar PV Modules effective from April 1, 2024, and Cells expected from April 1, 2026, are meant to guarantee better solar products and ease procurement procedures.
Addressing climate change, safeguarding energy supply, and promoting economic prosperity all depend on India's continued commitment to renewable energy. Despite the country's ongoing reliance on coal, the move towards renewable energy represents a major step toward increasing national energy security and diversifying energy sources.
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