India Needs to Double Renewable Capacity Additions to Meet 2030 Targets
To achieve its ambitious 2030 clean-energy targets, India must double its annual solar and wind capacity additions over the next five years, according to a report by Global Energy Monitor (GEM). Despite record additions in 2024, the current pace is insufficient to meet the country's goals.
Renewable Energy Growth in 2024
India added nearly 28 gigawatts (GW) of solar and wind capacity in 2024. Solar power additions accounted for 70% of this total, according to the renewable energy ministry.
Ambitious Targets and Current Status
India has set a target to achieve at least 500 GW of non-fossil power capacity by 2030, a significant increase from the current 165 GW. However, the country is still falling short of its previously set target to add 175 GW by 2022.
Challenges and the Rise of Fossil Fuels
Despite a robust pipeline of renewable projects, fossil fuels accounted for more than two-thirds of the total increase in power generation in 2024. GEM emphasized the need for a substantial acceleration in renewable energy deployment to reverse the rise in fossil fuel generation.
"A significant uptick in renewables deployment is required for renewable sources to expand upon their current one-fifth share of total generation and to eat into coal's dominance," GEM stated. It also noted that renewable sources tend to generate power less readily than fossil sources.
Coal Capacity Expansion Plans
To ensure a reliable base load of power to meet growing domestic electricity demand, India plans to increase its coal-fired capacity by 80 GW by 2031-32, raising the total from the current 220 GW.
Key Challenges to Renewable Expansion
Expanding renewable energy capacity will require addressing several challenges:
- Inadequate electricity transmission infrastructure
- Limited energy storage capacity
- Higher financing costs
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