India Surpasses Climate Goals Ahead of Schedule
India has achieved a significant climate commitment five years earlier than planned, with more than 50% of its installed power capacity now derived from non-fossil fuel sources. Prime Minister Narendra Modi made the announcement at the Bharat Renewable Energy (BRE) Summit, highlighting the nation's rapid strides in clean energy.
Modi emphasized that clean energy is fundamental to India's economic and energy security, positioning the country among the top three renewable energy markets globally. He reaffirmed India's commitment to achieving a target of 500 GW of non-fossil fuel capacity.
Ambitious Targets and Rooftop Solar Success
The Prime Minister detailed several key initiatives contributing to this success. The PM Surya Ghar rooftop solar scheme has already engaged over 65 lakh households, with more than one lakh new installations added every six days. Government estimates indicate that participating households have seen their power bills reduced by up to 76%, with many experiencing zero electricity costs.
Looking ahead, the government is also pushing for green hydrogen production, targeting 5 million tonnes annually by the end of the decade. This initiative is supported by substantial investments in transmission infrastructure through dedicated Green Energy Corridors.
Boosting Manufacturing and Investment
Renewable Energy Minister Prahlad Joshi reported that India's non-fossil power capacity has surpassed 310 GW, marking an increase of over 110 GW in just the past two years. The sector has attracted nearly ₹6 lakh crore in investments over the last two years, alongside foreign direct investment totaling $6.2 billion.
Domestic manufacturing capabilities have also seen exponential growth. Solar module manufacturing capacity has surged from approximately 2 GW a decade ago to nearly 200 GW, while solar cell manufacturing capacity has expanded to about 40-45 GW. Concurrently, solar tariffs have dramatically fallen from around ₹10-11 per unit to approximately ₹2.15 per unit, making green energy more accessible and affordable.
Global Outreach and Future Vision
The government projects investment opportunities exceeding ₹20 lakh crore in the clean energy sector this decade, encompassing renewable generation, energy storage, green hydrogen, manufacturing, and transmission infrastructure. Demonstrating its commitment to global clean energy expansion, India has also proposed a $200-million Africa Solar Facility to enhance clean energy access across developing economies.