India has quadrupled its renewable energy capacity in a decade, overtaking major economies to become the world’s fourth-largest producer of clean energy
India has quadrupled its renewable energy capacity over the past decade, cementing its position as a global leader in the sector, Union Minister Pralhad Joshi announced on Aug 7.
Speaking during a Rajya Sabha debate on the Ministry of New and Renewable Energy’s budget, Joshi revealed that India now ranks fourth worldwide in renewable energy installed capacity.
The country has witnessed a meteoric rise from 76.38 gigawatts (GW) in 2014 to an impressive 203.1 GW in 2024. "I am proud to share that today, India has achieved 4th position globally in RE Installed Capacity. We stood 4th in Wind Power capacity and 5th in Solar PV capacity,” Joshi declared.
Solar energy has been the driving force behind this remarkable growth, surging from a modest 2.82 GW in March 2014 to a staggering 85.47 GW by June 2024. This represents a thirty-fold increase in just ten years.
Joshi emphasized that renewable energy is no longer an option but a necessity for India’s sustainable development. “India witnessed one of the fastest rates of growth in the renewable energy sector among all large economies of the world. We are aligned with the developed Nations and achieved 4th position in the world in total RE installed capacity,” he stated.
The minister also highlighted the government’s commitment to achieving Prime Minister Narendra Modi’s ambitious target of 500 GW of installed electricity capacity from non-fossil sources by 2030. The Ministry of New and Renewable Energy has doubled its budget to over Rs 20,000 crores To support this goal.
The shift towards renewable energy is evident in the declining share of thermal power in India’s energy mix. From 67.69 per cent in 2013-14, it has reduced to 54.46 per cent in 2024-25, while the contribution of non-fossil fuels has risen from 32.30 per cent to 45.54 per cent.
Furthermore, total renewable energy generation has increased by an impressive 86 per cent, from 193.50 billion units (BU) in 2013-14 to 359.89 BU in 2023-24. The cost of solar power has also plummeted, dropping from Rs10.95 per unit in 2010-11 to Rs2.60 per unit in 2023-24.
These developments underscore India’s rapid transition to a clean energy future and its emergence as a global leader in renewable energy.