India’s RE Power Rise: Renewable Share Reaches 13.85% in 2024

Source:solarquarter

India’s power sector has witnessed notable growth in renewable energy generation over the past three years, reflecting the government’s push toward clean energy. According to official data, the country’s total energy supply rose from 1,374,024 million units (MU) in 2021-22 to 1,622,020 MU in 2023-24, with renewable energy contributing an increasing share.

Rising Renewable Energy Share

Renewable energy’s share in India’s power mix rose from 11.46% in 2021-22 to 12.99% in 2023-24. As of October 2024, renewable energy accounted for 13.85% of the country’s total power generation, producing 152,960.81 MU. This upward trend underscores India’s commitment to achieving 500 GW of non-fossil energy capacity by 2030.

Government Initiatives Driving Growth

The Ministry of New and Renewable Energy (MNRE) has implemented key policies, including issuing a 50 GW annual renewable energy bidding trajectory from FY 2023-24 to FY 2027-28. Additionally, the government waived inter-state transmission charges for solar, wind, and green hydrogen projects to encourage cross-border clean energy trade.

Key Steps and Initiatives

  • To accelerate renewable energy capacity, the government has:
  • Permitted 100% Foreign Direct Investment (FDI) under the automatic route.
  • Introduced Renewable Purchase Obligations (RPO) and Renewable Consumption Obligations (RCO), with penalties for non-compliance.
  • Launched the Production Linked Incentive (PLI) scheme for high-efficiency solar PV modules.
  • Implemented the Green Energy Corridor Scheme to support power evacuation.
  • Notified offshore wind energy lease rules and issued a bidding trajectory of 37 GW by 2030.
  • Developed new transmission lines and sub-station capacities to integrate renewable energy efficiently.
  • Launched the Green Term Ahead Market (GTAM) to facilitate renewable energy trading.

Infrastructure and Grid Integration

To ensure efficient power evacuation, India is strengthening its national grid through new transmission lines and sub-station capacity expansions. The government is also promoting hybrid power plants, battery energy storage systems (BESS), and pumped storage projects (PSP) for grid stability.

With a robust policy framework and expanding clean energy infrastructure, India is steadily progressing toward its renewable energy targets, securing a greener and more sustainable energy future.