RMI report shows India shifting to renewables as demand grows

RMI, a US-based nonprofit focused on energy transition research, has stated that 93% of India’s new power generation investment has been directed toward renewables. According to RMI, India’s electricity demand is expected to triple by 2050, as growth in steel production, transport, and space cooling continues. India today invests 5% of its GDP in fossil fuel imports, when it has plenty of indigenous renewable resources. RMI observed that electrification is progressing in domestic and transport sectors, fueled by extensive use of electric two- and three-wheelers. Cities such as Delhi, Varanasi, and Palava have implemented rooftop solar, EV mandates, and urban planning measures. India is also building capacity in solar PV, wind turbine, and battery manufacturing. RMI has emphasized that expanded clean energy financing and grid reform are necessary for long-term progress.