As per the latest data released from the Ministry of New and Renewable Energy (MNRE), the total renewable energy installed capacity has increased by an impressive 24.2 GW (13.5%) in a year.

About Renewable Energy

• It is the source of energy which is derived from natural sources which are renewable in nature as it  gets constantly replenished at a higher rate than they are consumed and will never exhaust.
• Sources: 
  • Solar Energy: Solar technologies convert sunlight into electrical energy either through photovoltaic panels or through mirrors that concentrate solar radiation.
    • India’s solar energy potential is estimated to be 748 GWp as estimated by National Institute of Solar Energy (NISE).
  • Wind Energy: It harnesses the kinetic energy of moving air by using large wind turbines located on land (onshore) or in sea- or freshwater (offshore). 
  • Hydropower Energy: It harnesses the energy of water moving from higher to lower elevations. It can be generated from reservoirs and rivers.
  • Bioenergy: It is produced from a variety of organic materials, called biomass, such as wood, charcoal, dung and other manures for heat and power production, and agricultural crops for liquid biofuels.

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About India’s Renewable Energy Sector

• As per the REN21 Renewables 2024 Global Status Report, India ranks 4th globally in Renewable Energy Installed Capacity (4th in Wind Power capacity & 5th in Solar Power capacity). 
  • Total Installed Renewable Energy Capacity: As of October 2024, India’s total renewable energy installed capacity stands at 203.18 GW from 178.98 GW in October 2023
  • Total Non-Fossil Fuel Capacity: It stands at 211.36 GW in 2024, compared to 186.46 GW in 2023 also including Nuclear Energy.
• Contribution: Renewable Energy accounts for 46.3 percent of the country’s total installed capacity which has reached 452.69 GW
• Target: India plans to enhance its renewable energy capacity target to 500 GW by 2030 at the COP26 as part of a key pledge under the Panchamrit targets.
• Status of Renewable Energy Projects: As of October 2024, projects of 143.94 GW is under implementation and 89.69 GW are already tendered. 
  • The projects saw an increase from 99.08 GW under implementation and 55.13 GW tendered as of October 2023.
• Policies and Schemes: 
• • Governmental Pledges: India has committed to reduce the carbon intensity of the nation’s economy by less than 45% by 2030, and achieve net-zero carbon emissions by 2070.
  • Foreign Direct Investment permitted up to 100 percent under the automatic route to attract investments.
  • National Green Hydrogen Mission: India aims to produce 5 Mn Tonnes of green hydrogen by 2030 revolutionising the green transport sector. The National Green Hydrogen Mission was approved with a budget of  INR 19,744 Cr.
  • Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM): It aimed to increase the income of farmers by installing  solar irrigation pumps and provide sources of irrigation and de-dieselization the agricultural sector.
  • PM-Surya Ghar Muft Bijli Yojana:  It aims to increase the share of solar rooftop capacity and empower residential households to generate their own electricity by providing subsidy of 60% of the solar unit cost for systems up to 2kW capacity.
• Significance:
  • Limit Climate Change: Renewables are the cleanest, most viable solution to prevent environmental degradation as they do not emit greenhouse gases in energy generation processes.
  • Inexhaustible Source: Clean energies being inexhaustible are essential for sustainable energy system allowing  development today without risking that of future generations
  • Reducing Energy Dependence:  Dependence on fossil fuel imports results in subordination to the economic and political short-term goals of the supplier country, which can compromise the security of energy supply
    • Example: The oil wars of the middle east.
  • Increasing Competitiveness:  Economies of scale and innovation are already resulting in renewable energies becoming at lightning speed the most sustainable solution, not only environmentally but also economically, for powering the world. 
  • Maintenance: Renewable energy systems, like solar panels, require less maintenance than traditional energy systems. 
  • Local resilience: Renewable energy can provide electricity close to where it’s used, which can help with local energy resilience

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