Ten Per Cent of India’s Total Electricity Output Now Comes from Renewable Power

In India’s electricity output; in April–October 2018, this share touched the 10% threshold. The share of renewables in the total installed power capacity is also on a rise—from 14% in FY2015, this has risen to the current level of over 20%.

Under the United Nations Framework Convention on Climate Change ratified in Paris in 2015, India has an obligation to increase the share of non-fossil-based power in total installed capacity to 40% by 2030. The government has set a target to achieve 175 GW of renewable energy capacity by 2022. Between 2015 and 2018, electricity generated by renewable sources increased at a whopping compound annual growth rate (CAGR) of 18.2%. To put this in perspective, the CAGR of conventional power production in the same period was only 4.8%. Not only wassolar capacity addition in 2017 more than that of coal, solar capacity added in the year (8,040 MW) was more than twice the net addition in the coal-based power sector (4,004 MW). While solar capacity showed an annual increase of 95% in 2017, high-emitting generating capacities added in the year was 75% lower than in the previous year.

Experts have attributed the growth in renewable energy to the country’s global commitments to cut carbon footprint, falling solar rates, and unlocking of potential energy demand through ‘24X7’ power schemes.

Source: www.financialexpress.com