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As climate crisis looms, India surpasses 200 GW in renewable energy

Abha Raverkar

3 min read | Updated on November 14, 2024, 09:15 IST

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SUMMARY

India’s total renewable energy capacity crossed the 200 gigawatts (GW) milestone, aligning with the country’s renewable energy target of achieving 500 GW from non-fossil fuel sources by 2030. This comes when the planet is at a crossroads as the global average temperature rose to 1.54°C between January and September 2024.

2024 is on track to become the warmest year on record, with the global average temperature rising temporarily to 1.54°C between January and September 2024

2024 is on track to become the warmest year on record, with the global average temperature rising temporarily to 1.54°C between January and September 2024

At a time when global warming is rising at an alarming rate, India has reached a significant milestone as the country’s total renewable energy capacity crossed the 200 gigawatts (GW) mark.

This positive news comes at a time when 2024 is on track to become the warmest year on record, with the global average temperature rising temporarily to 1.54°C between January and September this year.

According to a government press release dated Wednesday, this achievement is aligned with the country’s renewable energy goal of achieving 500 GW from non-fossil sources by 2030.

The 500 GW target was set at the COP26 (United Nations Climate Change Conference) held in 2021.

This achievement underlines India’s commitment to developing green energy and building a sustainable future. India's total renewable energy capacity grew by 13.5% in a year, from 179 GW in October 2023 to 203 GW in October 2024.

“This milestone reflects the result of years of dedicated efforts to harness India’s natural resources. From sprawling solar parks to wind farms and hydroelectric projects, the country has steadily built a diverse renewable energy base. These initiatives have not only reduced reliance on fossil fuels but also strengthened the nation’s energy security,” the statement said.

Furthermore, India’s renewable energy sector added 1.02 million jobs, as per the International Renewable Energy Agency's (IRENA) 2024 Annual Review.

Renewable energy mix

Renewable energy sources made up 46% of the country’s total installed capacity. India had a total electricity generation capacity of 453 GW, of which renewable energy-based electricity generation capacity stood at 203 GW.

Solar energy, hydropower energy, and biopower, including biogas and biomass energy have been key components of India’s renewable energy mix.

Government initiatives

The Indian government has taken up myriad initiatives to reach its goal, including the National Green Hydrogen Mission, PM-KUSUM, PM Surya Ghar, and the PLI schemes for solar PV modules to reach its green energy goal.

Is it too late to prevent irreversible damage?

Research shows that by 2035, the Earth will reach the point of no return, after which it will be nearly impossible to stop Earth’s temperatures from rising to 2°C above pre-industrial levels.

If the planet’s temperature were to rise to 2°C it would lead to an alarming rise in sea levels, the death of coral reefs and drastic imbalances in ecosystems, among other severe impacts.

2024 is already on track to be the warmest year on record, with the World Meteorological Association issuing a Red Alert at the turbocharged pace of climate change in a single generation.

About The Author

Abha Raverkar
Abha Raverkar is a post-graduate in economics from Christ University, Bengaluru. She has a strong interest in the markets and loves to unravel the nitty-gritties of the latest happenings in the world of markets, business, and economy.

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