Over a twelve-month period, the Indian subcontinent has written a historic chapter in its transition towards a sustainable energy model. Thanks to a package of investments worth around 22.3 billion dollars, the country has added over 50 GW in power generated by renewable sources (largely solar, with 35 GW), bringing its total non-fossil capacity to around 262 GW out of an overall value of 510 GW. This means that, with over 50% of its installed capacity coming from non-fossil sources, India has achieved its green target five years ahead of the goal set by the Paris Agreement. Moreover, this acceleration has rocketed India to the upper echelons of world rankings of nations with the highest proportion of renewables, behind the United States and China.
Energy in the context of a growing economy. The rapid expansion of renewables is part of a wider transformation in the Indian energy economy. However, this must rise to meet the challenges of growing demand, a dependence on coal and ambitious goals for 2030.
Today, India is one of the fastest-growing economies in the world, with a matching rise in the demand for energy. In fact, there are predictions that national energy needs could quadruple over the coming decades. However, in order to maintain competitiveness, reduce atmospheric pollution and honour its climate commitments, the country is significantly accelerating its adoption of clean energy.
Despite record-setting renewable efforts, coal continues to play a significant role in the production of electricity, particularly during peak times or when weather conditions limit solar and wind generation. This “paradox” of green growth alongside the heavy use of fossil fuels is pushing India to examine hybrid strategies, including energy-storing policies and new nuclear-friendly technologies.