As per a report, India has seen a threefold growth in its renewable energy capacity over the past decade, with the total installed green power capacity now at 232 GW, which includes large hydropower facilities, compared to 75.52 GW in March 2014. The report indicated that India has established itself as a global frontrunner in renewable energy, as the tariffs for grid-connected solar power plants have fallen by 80% to ₹10.95 per unit (for 170 MW in Neemuch).
India’s solar power capacity reached 2.82 GW in March 2014, and it has now surpassed 108 GW, marking a multi-fold increase. Meanwhile, wind power capacity has expanded from 21 GW in 2014 to 51 GW at present. The report noted that throughout the UPA administration, India was nearly non-existent in the solar manufacturing sector, with solar module production reaching only 2 GW in 2014.
They said India has transformed into a global leader in 2024, with solar module manufacturing capacity reaching 90 GW, and by 2030, the country will reach an impressive 150 GW. The report further pointed out that domestic production of solar cells and wafers in India was almost zero in 2014, a major failure of the previous government policy.
Today, India has built a robust foundation with 25 GW of solar cell manufacturing and 2 GW of wafer production. India plans to increase its solar cell and wafer production capacity to 100 GW and 40 GW, respectively, by the year 2030, aiming to diminish reliance on imports and establish itself as a self-sustaining powerhouse.
The nation also seeks to achieve 3.2 GW of completely integrated generation by the year 2024, with a goal of 24 GW by 2030. Similarly, the capacity for bio-power generation has risen by 42%, growing from 8.1 GW to 11.5 GW over the last decade. It is noteworthy that the compressed biogas (CBG) industry has grown from an initial project with a production capacity of 8 tonnes per day (TPD) in 2014 to 150 projects boasting a total capacity of 1211 TPD by 2024.