India Ups Its RE Target from 175 GW to 500 GW by 2030

The Modi government has been a pro-renewable energy government. As soon as the government came into power, it announced a yet another ambitious target to install 500 GW of renewable energy capacity by 2030. The initial target was to install 175 GW by 2022. India currently has just 80 GW of installed renewable energy capacity. Also, read India On Its Way to Surpass Its 2022 Renewable Energy Target.

The government is aiming to achieve reliable, sustainable and affordable electricity for the masses. Now, large hydropower projects will be considered as renewable energy sources. They will also form part of the renewable purchase obligation. The country aims to cut its carbon footprint and fight against climate change aggressively. India’s green energy sector has also been an attractive investment proposition for large foreign companies and funds.

India is now the third-largest emitter of greenhouse gases in the world. The country has high energy requirements not only in rural areas but also in urban cities. The country has huge power demands but given the state of air pollution and climate conditions, it is resorting to the clean sources of power such as solar, wind, hydro energy, etc. Renewable energy sources of power are gaining enough traction driven by increasing competition, lower prices, and higher acceptance.

Also, read India’s 2022 RE target Could Conserve 25% of Water

Only time will say if India could achieve this mammoth target. Analysts are wary of the country reaching its earlier high goals (100 GW by 2022). However, the government of India is thinking proactively this time. It is planning to set up renewable energy management centers (REMC) in the renewable energy-rich states such as Tamil Nadu, Andhra Pradesh, Karnataka, Gujarat, Maharashtra, and Madhya Pradesh.