India’s total renewable energy-based electricity generation capacity surpassed 200 GW in September 2024, reaching 201,457.91 MW. Solar power contributes 90,762 MW and wind energy 47,363 MW to this total, making renewable energy 46.3% of the country’s overall electricity generation capacity. States like Rajasthan (31.5 GW), Gujarat (28.3 GW), Tamil Nadu (23.7 GW), and Karnataka (22.3 GW) lead in renewable energy capacity. Additionally, India’s solar module manufacturing capacity is projected to reach 67 GW by the end of 2024, with 48 GW under construction. Globally, the International Energy Agency (IEA) notes that module prices have halved due to an oversupply in the market, with around $25 billion in polysilicon and wafer manufacturing projects canceled. The IEA report highlights that global renewable energy capacity is expected to reach 9,760 GW by 2030, falling short of the 11,000 GW target. Furthermore, grid connection delays remain a major obstacle, with 1,650 GW of renewable energy projects waiting for grid connectivity as of July 2024.
India’s renewable energy capacity surpasses 200 GW
The IEA’s latest report reveals that module prices have halved since early 2023, as the market faces a surplus in solar manufacturing. (Image Credit/Source:Pixabay/Pexels)
Capri Global’s partnered with Credit Fair to ensure digital access to solar finance, helping homeowners and businesses adopt renewable energy. (Image Credit/Source: fietzfotos/Pixabay)
SECI’s petition for tariff adoption under Section 63 of the Electricity Act, 2003 for a 900 MW hybrid project is now awaiting a CERC decision. (Image Credit/Source: Pixabay/Pexels )
The CFSE will include a 30,000-square-foot lab and solar tracker setups for real-time training. (Image Source: BUSINESS WIRE)
The BPCL contract includes CTU approval, transmission line installation, and a five-year operations and maintenance plan. (Image Credit: Pexels)