Title: India’s Renewable Energy Capacity Surges 2.35 Times Over the Last Decade, Government Unveils Key Initiatives
Date: December 19, 2023
In a significant development, the Union Minister for New & Renewable Energy and Power, R. K. Singh, announced today that India’s renewable energy capacity has soared by 2.35 times over the past decade. Providing a detailed breakdown of the country’s installed capacity during this period, the minister highlighted the remarkable growth trajectory.
Here is a snapshot of the cumulative installed capacity (in MW) for each financial year from 2013-14 to 2023-24:
- 2013-14: 76,380.6
- 2014-15: 81,217.1
- 2015-16: 89,874.4
- 2016-17: 103,036.2
- 2017-18: 115,944.4
- 2018-19: 124,810.0
- 2019-20: 133,953.5
- 2020-21: 142,011.7
- 2021-22: 156,606.9
- 2022-23: 172,009.0
- 2023-24 (as of 30.11.2023): 179,548.7
Singh attributed this impressive growth to a series of strategic initiatives undertaken by the Government of India since 2014. Key measures include the expansion of the National Solar Mission target from 20,000 MW to 100,000 MW, waiving Inter State Transmission System (ISTS) charges for solar and wind power projects, and setting a trajectory for Renewable Purchase Obligation (RPO) up to 2030.
The government has also launched various schemes and programs such as the Development of Solar Parks, Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Yojana (PM-KUSUM), and the National Green Hydrogen Mission to position India as a hub for green hydrogen production and exports.
Furthermore, Singh emphasized the importance of creating a conducive environment for investment by setting up Ultra Mega Renewable Energy Parks, laying new transmission lines, and establishing a Project Development Cell. The introduction of Standard Bidding Guidelines and orders ensuring power dispatch against Letter of Credit (LC) or advance payment were implemented to facilitate timely payments to renewable energy generators.
In terms of financial support, Singh provided state-wise details of subsidies under various schemes for encouraging new and renewable energy production over the last three years. The data revealed substantial investments in rooftop solar, PM-KUSUM, solar off-grid, small hydropower (SHP), biomass, and biogas projects across different states.
The minister concluded by reaffirming the government’s commitment to advancing India’s renewable energy sector, fostering sustainability, and achieving the ambitious targets outlined in the National Solar Mission and other key initiatives.
This information was shared by Union Minister R. K. Singh in written replies to questions in the Rajya Sabha on December 19, 2023.
