As the world grapples with the escalating effects of climate change, the transition to clean, sustainable energy solutions has become increasingly critical. Moving towards renewable sources such as solar, wind, and hydropower is now a global necessity. This transition not only mitigates the impacts of climate change but also fosters economic growth, strengthens energy security, and promotes societal well-being.

With Prime Minister Modi at the helm, India is rapidly emerging as a major force in the global clean energy transition. According to a report by EY, India ranks fourth globally in renewable energy capacity, a position driven by an impressive 36.5 per cent compound annual growth rate (CAGR) in solar power over the past decade. Through strategic investments in green hydrogen, electric vehicles, solar rooftop projects, and energy storage systems, India is not only accelerating its own energy transformation but also contributing significantly to the global shift towards a more sustainable future.

The Economic Survey 2024–25 highlighted that renewable sources now account for 47 per cent of India’s total installed power capacity.

The country has set a goal of reaching 500 GW of renewable energy capacity by 2030. With more than 200 GW already operational and additional capacity under development, India is making swift progress. To meet this target, the government has announced plans to tender 50 GW of clean energy projects annually until 2028.

India’s solar energy capacity has witnessed a phenomenal rise — from 2.82 GW in 2014 to over 100 GW by 2025, marking an extraordinary 3,450 per cent increase. In 2024 alone, India added a record 24.5 GW of solar capacity, effectively doubling the installations from the previous year. Government incentives, such as subsidies and low-interest loans, have been instrumental in this surge, with plans underway to install rooftop solar systems on 10 million homes across the country.

News source: Zee Business