India seeks to reduce its carbon intensity by 45% by 2030, achieve 50% renewable power capacity, and reach net-zero emissions by 2070. The low-carbon technology market is expected to be worth $80 billion by 2030.
India aims to produce 5 million tonnes annually from electrolyzer-capacity of 8 GW by 2025 and 2030 with the potential development of its green hydrogen market to $8 billion, which will require at least 50 GW of electrolyzers.
Rising energy demand from population growth and rural electrification is accelerating clean energy adoption. By 2040, 49% of electricity will be from renewables, reducing solar energy costs by 66% and saving Rs. 54,000 crore ($8.43 billion) annually. Wind-solar hybrid projects aim to add 15,000 MW between 2020-25.
Renewable energy is seen to rise as a share of power generation from 18% in 2029-30 to 44%, while thermal power will fall from 78% to 52%. The country’s energy demand will reach 817 GW by 2030, according to the projections.
With investments in EVs, green hydrogen, and solar manufacturing, India’s renewable energy transformation is on track toward sustainability and economic growth.
Government Initiatives for Driving Renewable Energy in India
Focus Points
- Scheme PM-KUSUM
- Launched in 2019, with massive scale-up in 2024.
- Subsidy support to farmers on setting up solar pumps and grid-connected solar installations.
- Super Investments in Renewable Energy:
- Rajasthan agreed to invest in 28,500 MW worth of renewable projects worth $19.18 billion.
- Green Hydrogen Mission
- $2.1 billion by 2030 for supporting hydrogen energy.
- Electrolyzer manufacturing focus with emphasis on gigawatt-scale capacity.
- Expansion in Solar Energy
- Solar parks now aim at a capacity of 40,000 MW spread across 12 states.
- PM Surya Ghar Muft Bijli Yojana Launched in 2024 for free rooftop solar power for households.
- Infrastructure Boost:
- $1 billion inter-state grid systems for Ladakh’s renewable energy.
- Hydropower and Green Bonds
- Inaugurated 600 MW Kameng Hydro Power Station.
- Framed sovereign green bonds’ framework for green investments.
- COP26 Commitments:
- 500 GW renewable energy committed to by 2030 and net-zero emissions by 2070.
Top POWER STOCKS IN INDIA
- NTPC – (Market cap ₹3,84,279)
- Power Grid Corporation – (Market cap ₹2,93,992)
- Adani Green – (Market cap ₹2,60,066)
- Tata Power – (Market cap ₹1,34,396)
- Adani Power – (Market cap ₹2,28,369)
