Economy - Reports
India's renewable energy capacity sees 14.2% growth on year, Solar sees spike of 30% As on : 11-Dec-24  18:38

Ministry of New and Renewable Energy (MNRE) has reported significant progress in India's renewable energy sector from November 2023 to November 2024. This progress underscores India's commitment to achieving its clean energy targets in line with the 'Panchamrit' goals set by Prime Minister Narendra Modi. As of November 2024, the total non-fossil fuel installed capacity has reached 213.70 GW, marking an impressive 14.2% increase from last year's 187.05 GW. Meanwhile, the total non-fossil fuel capacity, which includes both installed and pipeline projects, surged to 472.90 GW, a substantial 28.5% increase from the previous year's 368.15 GW. During FY 24-25 a total of 14.94 GW of new RE capacity was added till November 2024, nearly doubling the 7.54 GW added during the same period in FY 23-24. In November 2024 alone, 2.3 GW of new capacity was added' marking a dramatic fourfold increase from the 566.06 MW added in November 2023. Solar power continues to lead, with installed capacity rising from 72.31 GW in 2023 to 94.17 GW in 2024, a robust growth of 30.2%. Including pipeline projects, total solar capacity surged by 52.7%, reaching 261.15 GW in 2024, compared to 171.10 GW in 2023. Wind power also made notable contributions, with installed capacity rising from 44.56 GW in 2023 to 47.96 GW in 2024, reflecting a growth of 7.6%. Total wind capacity, including pipeline projects, increased by 17.4%, from 63.41 GW in 2023 to 74.44 GW in 2024.

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