In Short : “India embarks on a renewable energy revolution, shaping a sustainable and resilient future through eco-friendly power solutions, marking a significant stride towards environmental stewardship and energy independence.”
In Detail : Discover how India is spearheading a renewable energy revolution, propelling the nation towards a sustainable and resilient future. With ambitious targets, rapid solar capacity growth, innovative schemes and a focus on manufacturing and green hydrogen, India is paving the way for a cleaner, more decentralized energy landscape
With India accelerating its transition to a low-carbon, climate-resilient economy, the country aims to meet its renewable energy targets and carbon emissions reduction goals in line with the nationally determined contributions under the Paris Agreement. India has set a target of achieving 500 gigawatts (GW) of renewable energy capacity by 2030 as part of its commitment under the Paris Accord.
India is currently the world leader in the rapid acceleration of energy transition that we have witnessed. Our solar capacity has grown by leaps and bounds in the last nine years, reaching an impressive 74.306 GW today. If things continue to progress well, we will cross the remarkable milestone of 100 GW in the next 12-13 months. However, one aspect that has always been a point of concern is the proliferation of distributed solar in India. It is now evident that India’s priority is not only the growth of solar power but also the widespread adoption of solar energy.
Setting a target of 10 million households for distributed solar is unprecedented for any country, especially a country as vast as India. While 10 million may seem like a small number, it is significant when we consider rooftop solar installations. Achieving this target would be equivalent to the combined total of the installed rooftop solar capacity in the top four countries today. A conservative estimate suggests that 10 million households would result in at least 30 GW, or 30,000 MW, of additional capacity. It is remarkable to imagine that, out of India’s current installed capacity of 74 GW, only 11 GW comes from distributed and rooftop solar. Adding 30 GW of rooftop solar within two years is a visionary and timely move. We must commend the ministry for introducing this scheme, and the motto of ‘Har Ghar Solar’ has been well received by the common citizens.
I firmly believe that the Production-Linked Incentive (PLI) for modules is one of the most successful PLIs implemented so far. We have already witnessed the release of PLI Tranche I and Tranche II modules. In addition, the government has announced PLI schemes for storage technologies, grid-scale storage, e-mobility, and, of course, the ‘Viability Gap Funding’ (VGF) scheme. The eVehicle market has experienced a growth rate of over 35%, which is a highly positive sign.
Both PLI 1 and PLI 2 for solar high-efficiency modules have played a crucial role in establishing India as a global manufacturing superpower. By the end of next year, we are set to become the second-largest hub for solar manufacturing, and by 2026-2027, we will have over 100 GW of end-to-end manufacturing capacity. It is truly remarkable to see how Indian manufacturing is scaling such heights, particularly in a continuously evolving technology sector.
It is time for India to capitalize on green bonds. If we look at our target of 2030, we require approximately 300 billion dollars for generation. Today, the world is engaged in a global green hydrogen war, and India has taken the lead. We are significantly ahead of other countries in terms of developing domestic capabilities. While we have a stable demand within the country, it would be prudent to promote our own industries to consume our own green hydrogen, both domestically and internationally. One thing that is abundantly clear when we examine the entire energy transition story in our country is that we are perhaps one of the few, if not the only, nations that have accepted, acknowledged, and fully embraced the inevitability of this transition. We are committed to doing everything necessary to move towards it. Therefore, it is crucial that we establish a comprehensive scheme that encompasses the entire spectrum of decarbonization. Not many countries have achieved unity among all stakeholders, and this unity is pivotal.
I strongly believe that the foundation for a smart grid has already been laid. We must now be aware that smart meters are being mandated, and the progress is very good. Rooftop installations, in one way or another, are the next step closer to a smart grid. Imagine a situation where we have rooftop solar panels, storage facilities, and a connection to the grid that is grid interactive. That would be a highly advanced version of a modern grid.
The government has taken the right steps by creating a dedicated evacuation infrastructure. Already, 9,000 circuit kilometers (CKm) have been completed, and another 10,000 are in different stages of implementation. Together, they will host 50-60 GW of green energy. Furthermore, the government is pushing for distributed renewable energy to a large extent. Therefore, I firmly believe that we will have one of the most decentralized grids, where all the risks associated with grid administration are addressed.
A lot of awareness has also been raised regarding the threats related to cybersecurity in our power systems. Our grids are not only strong and capable of accommodating renewables, but they are also resilient in the face of any untoward incident directed at them. This is a very positive step towards transitioning to a fully smart grid. Additionally, a transition to clean energy presents a significant economic opportunity for India. As we transition to clean energy sources, we can create new job opportunities, attract investments, and reduce dependence on fossil fuels, thereby improving energy security and promoting sustainable development.
India’s commitment to renewable energy and its ambitious targets reflect its dedication to combating climate change and building a sustainable future. With the rapid growth of solar capacity, the implementation of innovative schemes such as distributed solar, and the progress in manufacturing and green hydrogen development, India is leading the way in the global energy transition. The establishment of a comprehensive decarbonization scheme, the advancement towards a smart grid, and the focus on cybersecurity in power systems further strengthen India’s position and pave the way for a cleaner, more resilient, and economically prosperous future.
