India’s renewable energy capacity has surged by 165% over the past ten years, growing from 76.38 Gigawatts (GW) in 2014 to 203.1 GW in 2024, Union Minister Pralhad Joshi announced on Tuesday. Speaking during a debate in the Rajya Sabha on the Ministry of New and Renewable Energy‘s budgetary allocations, Joshi highlighted that India now holds the fourth-largest renewable energy capacity globally, with notable progress in solar and wind energy.
“I am delighted to announce that India now ranks 4th worldwide in Renewable Energy Installed Capacity. We are also 4th in Wind Power capacity and 5th in Solar PV capacity,” Joshi stated. “For the first time, our capacity from non-fossil fuel sources has exceeded 200 GW, including 85.47 GW of solar power, 46.93 GW of large hydro, 46.66 GW of wind power, 10.95 GW of biopower, and 5.00 GW of small hydropower,” he elaborated.
Pralhad Joshi noted that solar energy capacity has grown exponentially from 2.82 GW in March 2014 to 85.47 GW by June 2024, a nearly 30-fold increase. He underscored that renewable energy is not merely an option for India but a critical necessity for sustainable development. “India has experienced one of the fastest growth rates in the renewable energy sector among all major economies. We are on par with developed nations and have achieved the 4th position globally in total renewable energy installed capacity,” he said.
Joshi also referenced Prime Minister Narendra Modi’s COP26 pledge to reach 500 GW of installed electricity capacity from non-fossil sources by 2030. “Energy security is one of this Government’s nine key priority areas. Consequently, the budget allocation for the Ministry of Renewable Energy has nearly doubled from Rs10,000 crores last year to over Rs20,000 crores this year,” Joshi mentioned.
He further pointed out that the share of thermal energy in the total installed capacity has decreased from 67.69% in 2013-14 to 54.46% in 2024-25 (up to June 2024), while the proportion of non-fossil fuel in the total installed capacity has risen from 32.30% to 45.54%. He added that total renewable energy generation in India increased from 193.50 billion units (BU) in 2013-14 to 359.89 BU in 2023-24, marking an 86% rise. Additionally, solar power tariffs have significantly dropped from Rs.10.95 per unit in 2010-11 to Rs.2.60 in 2023-24.
