The Times of India reported on April 15, 2024, that according to the latest data released by the Ministry of New and Renewable Energy of India, India achieved a substantial increase in renewable energy installed capacity in the fiscal year 2023-24, with the new installed capacity reaching a record 18.48GW, compared with 15.27GW a year ago, an increase of 21%. This figure not only highlights India's strong determination in the field of renewable energy, but also reflects the country's active efforts in tackling climate change and achieving green transformation.

However, despite these achievements, industry experts say India still has a long way to go in the development of the renewable energy sector. According to experts, in order to achieve the target of 500GW of renewable energy installed by 2030, India needs to add at least 50GW of new installed capacity every year for the next six years. This means that India needs to continue to increase investment in the field of renewable energy, and accelerate the construction and promotion of projects.

As of the end of March 2024, India's total installed renewable energy capacity has reached about 190GW, a figure that is the result of India's sustained efforts in the renewable energy sector over the past few years. At present, India has 103GW of renewable energy projects under construction, while another 72GW projects are under tender. These projects will further drive the growth of India's installed renewable energy capacity and inject new momentum into India's green transition.

Solar and wind power dominated the new installed renewable energy capacity. According to the data, India's new solar installed capacity in the 2023-24 fiscal year was 12.78GW and wind installed capacity was 2.27GW. These two renewable energy sources not only have the advantages of environmental protection and renewable energy, but also are increasingly mature in technology and gradually reduce the cost, making them widely used in India.

From the existing renewable energy installed structure, the total installed capacity of solar energy ranked first, reaching 81.81GW, followed by wind energy about 46GW. In addition, biomass cogeneration and small hydropower also occupy a certain proportion. The wide application of these renewable energy sources has not only provided India with clean and reliable power supply, but also made positive contributions to India's economic development and environmental protection.

By state, Gujarat and Rajasthan have the largest installed renewable energy capacity of about 27GW each. These two states have been at the forefront of the development of renewable energy in India, not only have rich natural resources and a good industrial base, but also have strong support from the government. This is followed by Tamil Nadu, Karnataka and Maharashtra, which have also made significant progress in the renewable energy sector. Editor/Xu Shengpeng