India is racing towards its 500 GW renewable energy target by 2030, and the latest data shows impressive progress. The country added 16 GW of renewable capacity in just the first five months of 2024, with solar energy leading the charge.
Adding to the momentum, issued 3.2 GW of solar + storage tenders in June, signaling a major push for round-the-clock clean power.
What does this mean for India’s energy future? Let’s dive deep into the numbers, key trends, and challenges ahead.
Executive Summary
✔ 16 GW renewable capacity added (Jan-May 2024) – Solar (12 GW) dominates, followed by wind (3 GW).
✔ Top-performing states: Rajasthan, Gujarat, Karnataka lead in solar installations.
✔ Renewables now contribute ~44% of India’s total power capacity.
✔ Challenges remain: Land acquisition, grid stability, and storage costs need attention.
For a detailed breakdown, keep reading!
India’s Renewable Energy Growth: 16 GW in 5 Months
1. Solar Leads the Charge (12 GW Added)
India’s solar sector continues to expand rapidly, contributing 75% of the new renewable capacity in 2024. Key highlights:
- Rajasthan (4.5 GW) remains the solar leader due to vast barren lands and high irradiation.
- Gujarat (3.8 GW) follows closely, leveraging its solar park initiatives.
- Karnataka (2.7 GW) maintains strong growth with hybrid wind-solar projects.
| State | Solar Capacity Added (GW) | Key Projects |
|---|---|---|
| Rajasthan | 4.5 | Bhadla Solar Park expansion |
| Gujarat | 3.8 | Dholera Solar Zone |
| Karnataka | 2.7 | Pavagada Ultra Mega Solar Park |
2. Wind Energy Contributes 3 GW
While solar dominates, wind energy is seeing steady growth:
- Tamil Nadu & Maharashtra lead in wind installations.
- Hybrid (Wind + Solar) projects gaining traction for better grid stability.
3. India’s Renewable Energy Share Now at ~44%
- Total installed renewables: ~190 GW (as of May 2024).
- Coal still dominates (~50%), but renewables are closing the gap.
3.2 GW Solar + Storage Tenders
Why This is a Game-Changer
- Ensures 24/7 renewable power by combining solar with battery storage.
- Reduces dependence on coal during non-sunny hours.
- Expected to cut 5 million tonnes of CO₂ annually once operational.
Key Details of the Tenders
✔ Capacity: 3.2 GW (Solar + Battery Storage)
✔ Locations: Primarily Rajasthan & Gujarat (high solar potential).
✔ Bidding Deadline: August 2024
✔ Expected Commissioning: 2026
Challenges in India’s Renewable Energy Push
1. Land Acquisition Delays
- Solar parks require large land parcels, leading to disputes & delays.
- Solution: Government streamlining approval processes.
2. Grid Integration Issues
- Intermittent supply from solar/wind strains the grid.
- Solution: More pumped hydro & battery storage systems.
3. High Battery Storage Costs
- Lithium-ion batteries remain expensive but prices are dropping (~12% YoY).
- Alternative: Sodium-ion & hydrogen storage being explored.
India’s Renewable Energy Growth (2020-2024)
| Year | Solar (GW) | Wind (GW) | Total Renewables (GW) |
|---|---|---|---|
| 2020 | 5.5 | 2.1 | 7.6 |
| 2021 | 10.2 | 3.4 | 13.6 |
| 2022 | 13.8 | 4.0 | 17.8 |
| 2023 | 15.3 | 4.5 | 19.8 |
| 2024* | 12.0 | 3.0 | 16.0 |
What’s Next for India’s Renewable Sector?
1. 2025 Targets: 25 GW Annual Additions
- Focus on offshore wind & floating solar.
- More hybrid (solar + wind + storage) projects.
2. Green Hydrogen Push
- National Mission aims for 5 MMT production by 2030.
- Renewable energy to power hydrogen plants.
3. Rising Foreign Investments
- FDI in renewables expected to cross $20 billion in 2024.
- Major players: Adani Green, ReNew Power, Tata Solar.
- India added 16 GW renewables in 5 months – solar leading at 12 GW.
- Challenges like land, grid stability, and storage costs need fixing.
- 2030 target of 500 GW looks achievable but requires faster execution.
