Renewable energy capacity has increased from ~ 76 GW in March 2014 to ~ 179 GW in October 2023 – EQ
In Short : For the most accurate and up-to-date information on global renewable energy capacity, it’s recommended to refer to official reports from international energy agencies, renewable energy organizations, or governmental bodies involved in energy statistics.
In Detail : The Union Minister for New & Renewable Energy and Power has informed that the installed Renewable energy capacity has increased from 76.37 GW in March 2014 to 178.98 GW in October 2023, i.e. an increase of around 2.34 times.
To drive growth in the country’s installed capacity of renewable energy, the Government of India has undertaken the following major steps/measures:
Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,
Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,
Specifying the minimum share of consumption of non-fossil resources by designated consumers, including Distribution Companies, up to 2029-30,
Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers for installation of RE projects at large scale,
Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II,
Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power,
Notification of standards for deployment of solar photovoltaic system/devices,
Setting up of Project Development Cell for attracting and facilitating investments,
Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.
Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.
Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.
Notification of “The Electricity (Late Payment Surcharge and related matters) Rules (LPS rules).
Launch of Green Term Ahead Market (GTAM) to facilitate sale of Renewable Energy Power through exchanges.
National Green Hydrogen Mission launched with an aim to make India a global hub for production, utilization and export of Green Hydrogen and its derivatives.
Notification of prescribed trajectory for RE power bids to be issued by Renewable Energy Implementation Agencies from FY 2023-24 to FY 2027-28. Under the trajectory, 50 GW/annum of RE bids to be issued.
Solar power installed capacity has increased from 2820 MW in March 2014 to 72002 MW in Oct 2023, i.e. an increase of around 25.54 times.
The Government is implementing the scheme for the development of Solar Parks with a target of at least 50 Solar Parks with an aggregate capacity of 40,000 MW. As on 31-10-2023, 50 Solar Parks with an aggregate capacity of 37,490 MW have been sanctioned in 12 States in the country.
This information has been given by the Union Minister for New & Renewable Energy and Power Shri R. K. Singh, in a written reply to a question, in Lok Sabha on December 7, 2023.
