India's energy request is supposed to increment more than that of some other country in the next few decades because of its sheer size and huge potential for development and advancement. Accordingly, it is basic that a large portion of this new energy request is met by low-carbon, inexhaustible sources. India's declaration India that it plans to accomplish net zero fossil fuel byproducts by 2070 and to meet half of its power needs from sustainable sources by 2030 imprints a memorable guide in the worldwide exertion toward battle environmental change.

The Indian renewable energy sector is the fourth most attractive renewable energy market in the world. India was ranked fourth in wind power, fifth in solar power and fourth in renewable power installed capacity, as of 2020. Installed renewable power generation capacity has gained pace over the past few years, posting a CAGR of 15.92% between FY16-22. India is the market with the fastest growth in renewable electricity, and by 2026, new capacity additions are expected to double.

With the increased support of the Government and improved economics, the sector has become attractive from an investors perspective. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role.

Current Advancements : (Updates from the Government Of India)

As of July 2022, India’s installed renewable energy capacity (including hydro) stood at 161.28 GW, representing 39.91% of the overall installed power capacity.

The country is targeting about 450 Gigawatt (GW) of installed renewable energy capacity by 2030 – about 280 GW (over 60%) is expected from solar.

The non-hydro renewable energy capacity addition stood at 4.2 GW for the first three months of FY23 against 2.6 GW for the first three months of FY22.

Solar power installed capacity has increased by more than 18 times, from 2.63 GW in March 2014 to 49.3 GW at the end of 2021. In FY22, till December 2021, India has added 7.4GW of solar power capacity, up 335% from 1.73 GW in the previous year. Off-grid solar power is growing at a fast pace in India, with sales of 392,000 off-grid solar products in the first half of 2021.

Power generation from renewable energy sources (not including hydro) stood at 18.99 billion units (BU) in July 2022, up from 16.61 BU in July 2021.

With a potential capacity of 363 GW and with policies focused on the renewable energy sector, Northern India is expected to become the hub for renewable energy in India.