India has seen a remarkable threefold increase in its renewable energy capacity over the past decade, with the installed base reaching 232GW as of 2024. This figure includes contributions from large hydropower projects and marks a major leap from the 75.52GW recorded in March 2014.
Solar and wind sectors drive expansion
The solar power segment has been central to this growth. From a modest 2.82GW in 2014, India’s installed solar capacity has surged past 108GW. Wind power has also shown robust performance, doubling from 21GW to 51GW over the same period.
This capacity boom has coincided with a steep decline in solar tariffs, now 80% lower than a decade ago. For instance, recent bids for 170MW solar power in Neemuch saw tariffs at Rs 10.95 per unit. Such price drops have significantly improved the affordability and adoption of solar energy nationwide.
Manufacturing capacity sees historic surge
India’s solar manufacturing ecosystem has undergone a transformative shift. In 2014, domestic module production was limited to just 2GW, with negligible capacity for solar cells or wafers. Today, the country boasts 90GW of solar module manufacturing capacity, alongside 25GW of solar cell production and 2GW of wafer output.
Plans are underway to scale this further. By 2030, India aims to reach 100GW of solar cell capacity and 40GW of wafer manufacturing. Fully integrated solar production currently stands at 3.2GW and is expected to grow to 24GW within the same timeline—marking a move towards self-reliance and reduced import dependence.
Growth across bioenergy and household adoption
India’s bioenergy capacity has also risen steadily, growing 42% from 8.1GW to 11.5GW in ten years. The compressed biogas (CBG) sector expanded from a single plant in 2014 to 150 operational projects in 2024, with a combined capacity of over 1,200 tonnes per day.
On the residential front, the PM-Surya Ghar Muft Bijli Yojana has reached nearly 13.3 lakh households. Around 12 lakh rooftop solar installations were completed in just the last ten months, indicating strong grassroots adoption.
National targets and global rankings
In 2024 alone, India added a record 25GW of renewable capacity, a 34.6% increase over the previous year. With an ambitious target of 500GW by 2030, the country must now maintain an annual addition of approximately 50GW to stay on track.
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To support this, four key renewable energy agencies—SECI, NTPC, NHPC, and SJVN—have together floated tenders for nearly 44GW of new capacity in FY 2024-25.
Earlier this year, India surpassed Germany to become the world’s third-largest producer of electricity from wind and solar sources, reinforcing its global standing in clean energy development.
(This news was first reported by PTI)
