India’s renewable energy capacity has surged by 165 percent over the past decade, climbing from 76.38 Gigawatts (GW) in 2014 to 203.1 GW in 2024, Union Minister Pralhad Joshi announced on Tuesday.
During a Rajya Sabha debate on grants for the Ministry of New and Renewable Energy, Joshi emphasized that India now holds the fourth position globally in renewable energy capacity, showcasing significant progress in both solar and wind power.
“I am pleased to announce that India has reached the fourth position globally in renewable energy installed capacity. We are fourth in wind power capacity and fifth in solar photovoltaic (PV) capacity,” Joshi stated.
He further noted that India has exceeded 200 GW in capacity from non-fossil fuel sources for the first time, including 85.47 GW from solar power, 46.93 GW from large hydro, 46.66 GW from wind power, 10.95 GW from bio-power, and 5.00 GW from small hydropower.
Joshi pointed out that solar energy capacity has grown exponentially from 2.82 GW in March 2014 to 85.47 GW by June 2024, representing a nearly 30-fold increase.
He stressed that renewable energy has become essential for India’s sustainable growth and development. “India has experienced one of the fastest growth rates in the renewable energy sector among major economies worldwide. We have aligned with developed nations and secured the fourth position globally in total renewable energy installed capacity,” he said.
Joshi also referred to Prime Minister Narendra Modi’s commitment at COP26 to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030.
“Energy security is a top priority for this government. Consequently, the budget for the Ministry of Renewable Energy has nearly doubled from Rs 10,000 crores last year to over Rs 20,000 crores this year,” Joshi added.
He highlighted that the share of thermal sources in the total installed capacity has decreased from 67.69 percent in 2013-14 to 54.46 percent in 2024-25 (up to June 2024), while the share of non-fossil fuel sources has risen from 32.30 percent to 45.54 percent.
Additionally, total renewable energy generation in India has increased from 193.50 billion units (BU) in 2013-14 to 359.89 BU in 2023-24, marking an 86 percent rise. Solar power tariffs have also significantly dropped from Rs 10.95 per unit in 2010-11 to Rs 2.60 in 2023-24.
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