BENGALURU, India :The country is expected to add 35 to 40 gigawatts of renewable energy annually until 2030, which would be sufficient to power up to 30 million additional homes annually, according to a research released on Thursday.
India, the third-largest energy consumer in the world, is predicted by the Institute for Energy Economics and Financial Analysis to have 405 gigawatts of renewable energy capacity by 2030.
The government’s goal of generating 50% of its electricity from non-fossil fuel sources by the end of the decade is anticipated to be surpassed.India has huge plans, according to Vibhuti Garg, co-author of the research and senior energy specialist at IEEFA. “While there were setbacks to India’s clean energy path due to the war in Europe among other reasons, India has big plans,” she said.
India has an energy shortage, which will only get worse as the country’s economy and population expand.The third-largest market for renewable energy in the world, she continued, has seen its industry develop due to the low cost of renewables as well as the demand for cleaner energy sources to combat climate change.
As living conditions improve and India’s 1.3 billion population expands, no other nation’s energy needs are anticipated to soar as much as India’s in the upcoming years.The study, which examined information from numerous green energy corporations and publicly-funded energy organisations, also discovered that private clean energy firms alone will add 151 gigawatts of renewable energy.
The largest single addition will be made by private enterprise Adani Green Energy, which would increase renewable energy production from 5.8 gigawatts to 45 gigawatts.Even though the nation has made great progress in the field of clean energy, analysts say there is still opportunity for growth.
