India’s Renewable Energy sector, valued at ₹10 trillion in 2023-24, plays a crucial role in the country’s transition to clean energy. With an ambitious goal to achieve 500 GW of non-fossil fuel capacity by 2030, the sector is rapidly growing, driven by government policies, technological advancements, and global sustainability commitments.
Why Invest in the Renewable Energy Sector
- Growing Energy Demand: India’s energy demand is projected to increase by 6.3% CAGR, with renewable energy expected to play a central role in meeting this demand.
- Government Initiatives: The National Action Plan on Climate Change and various state policies aim to make India a global leader in renewable energy production.
- Global Commitments: India’s commitment to the Paris Agreement and its target of net-zero emissions by 2070 create a favorable environment for renewable energy investments.
Incentives & Schemes
- National Solar Mission: Aiming for 100 GW of solar capacity by 2030 with incentives for solar power generation and infrastructure development.
- FAME II Scheme: ₹10,000 crore allocated for the promotion of electric vehicles and charging infrastructure, promoting clean energy solutions.
- Renewable Energy Development Fund: Government-backed funding for the development of renewable energy projects in remote and rural areas.
Highlights
- Solar Power Growth: India has become the world’s third-largest producer of solar energy, with 45 GW of installed capacity.
- Wind Power: India ranks fourth globally in wind power generation with 40 GW of installed capacity.
- Foreign Investments: Over $15 billion FDI in renewable energy projects since 2015.
Renewable Energy Sector Data
| Category |
Details |
| Market Size (2023-24) |
₹10 trillion |
| Total Renewable Capacity |
150 GW (as of 2023) |
| Solar Power Capacity |
45 GW (ranked 3rd globally) |
| Wind Power Capacity |
40 GW (ranked 4th globally) |
| National Solar Mission Target |
100 GW by 2030 |
| FAME II Scheme Allocation |
₹10,000 crore |
| FDI in Renewable Energy |
$15 billion since 2015 |
| Renewable Energy CAGR |
8% (2024-2030) |
| Investment in Renewable Projects |
Over ₹1.5 trillion invested in the last 5 years |
| Employment |
5 million+ people |
