Rapid Fire
Green Milestone
- 11 May 2024
- 1 min read
Recently, the Council on Energy, Environment and Water and Centre for Energy Finance (CEEW-CEF) market handbook found that the share of coal in India's overall
installed electricity capacity dropped below 50% for the first time in history during the 2023-24 period.
- The report cited that renewable energy sources made up 71% of the 26 gigawatts (GW) of power generation capacity added in India.
- India's total installed electricity capacity rose to 442GW, with renewables contributing 144GW (33%) and hydro 47 GW (11%).
- Solar power accounts for 81% of renewables, with wind capacity reaching nearly 3.3 GW and nuclear capacity adding 1.4 GW.
- Renewable energy auctions reached a record 41 GW in the fiscal year 2024, with innovative formats like wind-solar hybrids and RE-plus-storage gaining prominence.
- RE-plus-storage refers to renewable energy systems, such as solar or wind power, combined with energy storage solutions, typically in the form of batteries.
- India updated its climate change commitments in 2022, aiming to reduce GDP emissions intensity by 45% from 2005 levels by 2030 and have 50% of its power capacity from
non-fossil sources by the same year.
