India's Renewable Energy Capacity Triples to 232GW in a Decade

India’s total renewable energy capacity has reached 232 GW in 2024, a threefold increase from 75.52 GW in March 2014. This figure includes solar, wind, biopower, and large hydro installations.

Solar Energy Growth

Installed solar power capacity in India has increased from 2.82 GW in 2014 to more than 108 GW in 2024. The tariff for grid-connected solar power plants has dropped by 80% over the same period. For instance, a 170 MW project at Neemuch now operates at ₹10.95 per unit.

Solar module manufacturing capacity stood at 2 GW in 2014 and has risen to 90 GW in 2024. Reports suggest that India aims to reach 150 GW of module capacity by 2030. Solar cell production capacity, which was negligible in 2014, is now at 25 GW, with a target of 100 GW by 2030. Wafer manufacturing capacity is currently 2 GW, with plans to scale it to 40 GW.

Wind and Biopower

Wind energy capacity has more than doubled, from 21 GW in 2014 to 51 GW in 2024. Biopower generation capacity has increased by 42%, moving from 8.1 GW in 2014 to 11.5 GW in 2024.

The Compressed Biogas (CBG) sector has expanded from a single project producing 8 tonnes per day in 2014 to 150 projects with a combined daily capacity of 1,211 tonnes in 2024.

New Additions and Schemes

India added 25 GW of renewable energy capacity in 2024, which is 34.63% higher than the 18.57 GW added in 2023. Under the PM-Surya Ghar Muft Bijli Yojana, 12 lakh rooftop installations have been completed in the last 10 months, covering 13.3 lakh households.

Read more: India Achieves 16% Growth in Renewable Energy Capacity in 2024!

Upcoming Targets and Tenders

India has set a target of reaching 500 GW of renewable energy capacity by 2030. To achieve this, an average annual addition of 50 GW is required. For FY 2024-25, RE implementing agencies like SECI, NTPC, NHPC, and SJVN have issued tenders amounting to 44 GW.

Conclusion

India’s renewable energy infrastructure has expanded steadily over the last decade across generation and manufacturing. Targets for 2030 involve continued annual growth and scaling of domestic production.

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