The renewable energy sector in India is developing rapidly; India is the 4th most desired renewable energy market across the world and the installed capacity of renewable energy exceeds 100 gigawatts.
By 2022 India could attain its target of 40%. India is among the top three nationalities globally to have the most impact on the growth of green energy sources. In the last seven years, Govt has invested more than 70 billion US$ in Solar energy and renewable energy sources. India has the third-largest solar power capability established in the world.
In recent years, across India, the role of solar and other renewable energy sources has increasingly become more prominent. The country is targeting about 450 Gigawatt (GW)* of installed renewable energy capacity by 2030 – about 280 GW (over 60%)* is expected from solar.The government with various initiatives and policies boosting the renewable energy sector in the country.
- The National Solar Mission was started to build India as a global leader in the solar power arena. Setting a goal to raise 100 GW from 20 GW grid-connected solar power by 2022.
- India has shown its Expected Nationally Determined Contribution (INDC) to the UNFCCC to help achieve its goal of building 175 gigawatts (GW) of renewable power capacity in 2022. set a new goal to increase the proportion of non-fossil-based electrical capacity to 40% by 2030.
- "Green hydrogen will provide India a quantum rise in reaching its weather targets," PM Modi declared, unveiling his strategies to transform India into a globally renowned green hydrogen generation and trading hub.
- To attract significant investments, National Offshore Wind Energy Strategy announced plans to construct five-gigawatt offshore wind power projects in 2022 and 30 GW by 2030.
- Under Union Budget 2021-22, the government has provided an additional capital infusion of Rs. 1,000 crore (US$ 137.04 million) to Solar Energy Corporation of India (SECI) and Rs. 1,500 crore (US$ 205.57 million) to Indian Renewable Energy Development Agency.
- It is expected that the renewable energy industry of India will expand and supply power to an ever-growing number of people.
- Research, Development and Demonstration (RD&D) are one of the most crucial requirements to expand New & Renewable Energy.
There are few renowned platforms like RenewX which are promoting usage of renewable energy at every possible level by organizing b2b exhibitions. RenewX exhibition hosts latest innovations, technologies, products and solutions in Solar Energy, Wind Energy, Hydro Energy and Electric Vehicles . The manufacturers, distributors, suppliers and EPC contractors not only from India but across the world showcase their range products and services catering to renewable energy industry. This year the 5th edition of RenewX is happening from 19-20 Nov at HITEX, Hyderabad. This exhibition is free to attend. Do plan your visit in advance by pre-registering at https://bit.ly/3ExLIy6
* Source: https://www.ibef.org/industry/renewable-energy.aspx