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India Aims for 40% Non-Fossil Power by 2030, Boosting Solar and Wind

India's ambitious renewable energy targets could transform its power sector. With costs falling and support from the government, the country is on track to meet its 2030 goals.

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1 min read
In this picture I can see few buildings and trees and a windmill on the left side of the picture...
In this picture I can see few buildings and trees and a windmill on the left side of the picture and grass on the ground and I can see a text on the white board and on the right side of the picture and i can see a blue cloudy Sky.

India Aims for 40% Non-Fossil Power by 2030, Boosting Solar and Wind

India is aggressively pursuing its renewable energy targets. It aims to generate 40% of its electrical power from non-fossil sources by 2030, with a significant portion coming from solar and wind energy.

The country has set ambitious goals for renewable energy capacity. By 2022, India plans to have 175 GW of installed renewable energy, including 100 GW from solar and 60 GW from wind. This is a substantial increase from the 9.6 GW of solar power capacity it had at the end of the first quarter of 2017.

India's renewable energy sector has been growing at a remarkable pace, with a cumulative annual growth rate of 20% over the past decade. This growth is driven by factors such as reducing costs and attractive financial incentives. For instance, solar photovoltaic (PV) costs have decreased by 20% annually since 2007, making solar PV the cheapest source of electricity in India since 2020. Additionally, India offers tax holidays and accelerated depreciation for renewable energy projects.

The Central Electricity Authority is also playing a crucial role in this transition. It is phasing out coal-fired power plants more than 25 years old and no new coal power stations are needed until at least 2027. This shift is expected to make solar rooftop systems with battery back-up achieve grid-parity by 2025.

India's commitment to renewable energy is evident in its targets and policies. With the cost of renewable energy decreasing and the government providing incentives, the country is well on its way to meeting its 2030 goal of generating 40% of its electrical power from non-fossil sources. This transition is not only beneficial for the environment but also for India's energy security and economic growth.

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