In Short : The Ministry of New & Renewable Energy is implementing various schemes and programmes for development and deployment of renewable energy, under which an allocation of Rs. 7,033 crore was made in 2022-23 which was then increased to Rs. 7,848 crore for 2023-24.
In Detail : India has added a total of 72.02 GW solar power capacity till date
The Ministry of New & Renewable Energy is implementing various schemes and programmes for development and deployment of renewable energy, under which an allocation of Rs 7,033 crore was made in 2022-23 which was then increased to Rs 7,848 crore for 2023-24. The government’s efforts, combined with private sector investments and state-wise initiatives, have propelled India towards achieving its goals in renewable energy
India is expanding its renewable energy capacity at a hectic pace of 50 GW a year, which is among the fastest in the world and aims to achieve a 45 per cent cut in emissions by 2030, which will exceed the target of 43 per cent fixed at the COP28 summit in Dubai.
Minister for Power and Renewable Energy R.K. Singh is confident that the country will be ahead of the curve.
“COP 28 has just concluded and one of the important points discussed was emissions intensity should be reduced by 43 per cent by 2030. This is the main point because emissions are the main reason for global warming,” he said.
“We had pledged in Glasgow that we will have 50 per cent of our established capacity coming from non-fossil-fuels by 2030, we are confident that we will able to achieve 65 per cent. We will also achieve way beyond our target of reducing our emission intensity by 45 per cent by 2030,” he had said earlier.
The share of non-fossil fuel sources in India’s total installed electricity generation capacity reached 43.82 per cent as on October 31, Singh informed the Parliament recently.
So far, a total of 186.46 GW capacity from non-fossil fuel-based energy resources has been installed in the country as on October 31, which includes 178.98 GW Renewable Energy and 7.48 GW Nuclear Power.
