10 Facts proving India to be a world leader in the renewable energy sector

To put it not-so-humbly, India is blessed abundantly with great natural resources. We have the exceptional peninsular region engulfing the Deccan Plateau, the Thar Desert and the Sahyadri Mountain ranges. We have the fertile plains of the Ganges and Bramhaputra river basins. Thick rain-forests in the North-East. And of-course the guardian of our Indian Subcontinent, our mighty Himalayas. All these terrains, climates and weathers are a treasure waiting to be utilized in teh form of renewable energy. Even with their potential not-fully explored, India has garnered a commendable reputation internationally to be a formidable force in world sustainability. Following are ten facts that prove the same – 

1. India’s installed renewable power generation capacity has increased at an alarmingly quick rate within the past decade, touching a powerful CAGR of 17.28 percent between FY14–19. With the increased support of state and improved economics, the world has become attractive from an investors perspective
2. As stated within the Paris Agreement commitments granted to the United Nations, the government of India has promised an inspiring target of attaining 175 GW of renewable energy capacity by the year 2022. These numbers incorporate the 100 GW of solar capacity and 60 GW of wind generation capacity. Our government plans to determine a renewable energy capacity of 500 GW by 2030.
3. The total amount of installed renewable energy capacity is 86.75 GW, of which solar and wind comprise 34.40 GW and 37.66 GW respectively, as of February 2020. Hydro-electric power and Biogas/Biofuels constitute 9.80 GW and 4.6 GW, respectively. But surprisingly there has been a rise in our off-grid renewable power capacity.
4. FDI inflows within the Indian non-conventional energy sector between April 2000 and December 2019 stood at US$ 9.1 billion, as stated by the Department for Promotion of Industry and Internal Trade (DPIIT).
5. From the months of April to December 2019 approximately Rs 36,729.49 crore (US$ 5.26 billion) investment has been made by private companies in the renewable energy sector.
6. In CY2018, India’s Solar sector received an investment of a whopping US$ 9.8 billion.  Moreover, to add to our grandeur the world’s largest solar park ‘Shakti Sthala’ was launched in Karnataka in March 2018 with an investment of Rs 16,500 crore (US$ 2.55 billion).
7. The Government of India has declared a strategy to implement a US$ 238 million National Mission on futuristic ultra-supercritical technologies for cleaner and efficient coal utilization. The Ministry of latest and Renewable Energy (MNRE) has decided to supply custom and excise duty benefits to the solar rooftop sector, which successively will lower the value of fixing also as generate power, thus boosting growth.
8. There has been an increase in the Private Equity (PE) investments in India’s wind and solar energy by 47 percent in 2017 (January 1 to September 25) to US$ 920 million, across nine deals, as compared to US$ 630 million coming from 10 deals during the corresponding period in 2016.
9. In the year 2017, eco-friendly energy made up about 27 percent of US$ 4.4 billion through twenty-eight merger and acquisition (M&A) deals which took place in India’s renewable power sector.
10. An increased effort has been made by the Indian Government sustained energy efficient measures and maximum use of clean fuel to cut down the carbon emission of the Indian Railways by 33 percent till 2030.

There have been the many more milestones achieved that decorate India’s endeavors to become a nation that is looked up to for having a lowered carbon footprint in the world. Want to contribute? Check out our product for solar energy.