Renewable energy is also known as ‘Clean energy’ or ‘Green energy’ is a burgeoning technology that is lowering energy prices while also promising a cleaner, greener future. India has been one of the world's fastest-growing renewable energy sectors in the last decade. In 2021 it ranked 3rd in the renewable energy country attractive index, it is also the world's 3rd largest energy producer. As of November 2021, India had 150 GW of renewable energy capacity with solar energy contributing almost 50 GW. Recently at COP26, India pledged 500 GW of renewable energy (RE) capacity by 2030. Renewable energy is also booming among industrial bodies. At the recently held ‘Asia Economic Dialogue 2022’ Reliance Industries Chairman, Mukesh Ambani said India could emerge as a global energy superpower with exports rising to 500$ over the next 20 years. Reliance itself has committed to investing heavily to boost India’s renewable energy sector. It has also planned to build battery storage, and fuel cells and produce green hydrogen at less than $1 per KG.
Let’s look at how various renewable energies are contributing to India’s energy rise.
Solar
It is one of the fastest developing energy industries. Initially, India targeted achieving 20 GW by 2022, it is well ahead of time by contributing around 50 GW as of January 2022. India currently has 42 solar parks with more planned in the coming years. Rooftop solar electricity accounts for 2.1 GW, with 70% of it being used for industrial or commercial purposes. Furthermore, it is developing off-grid solar power for local energy needs. India is also one of the founding members of the International Solar Alliance (ISA), headquartered in Gurugram, India.
Hydroelectric Power
Hydropower has been used in India for over 120 years. The development of hydropower in India began in 1897 with the commissioning of the first minor hydro plant of 130 kW in the Darjeeling Hills. India ranks 5th globally for hydroelectric power capacity. As of 31 January 2022, it has installed 46,512 MW of hydroelectric power capacity. India's hydroelectric potential is projected to reach 148,701 megawatts (MW).
Wind power
Wind power development in India began in the 1990s and has accelerated dramatically in recent years. It ranks 4th in terms of installed wind power capacity. As of 30 November 2021, the total installed wind power capacity was 40 GW. According to a recent estimate, the country has a total wind power potential of 302 GW at 100 meters and 695.50 GW at 120 meters above ground level. Rice husk, Straw, Soya Husk, Cotton stalk, De-oiled cakes, Coffee waste, Bagasse, and Coconut shells are some of the biomass materials that are used to generate power.
Bioenergy
Biomass production contributes majorly to this source of energy. Because of its tropical position, sunlight, and precipitation, India is a great climate for biomass production. Agro-residues from the country's large agricultural potential may be utilized to satisfy energy demands in both heat and electricity applications. India has a potential of 16,000 MW from biomass and 3,500 MW from bagasse cogeneration, according to estimates.
With rising worries about global warming and climate change, governments around the world are looking for a long-term energy source. India is also developing its renewable energy sources. As the world's third-largest energy producer, it is on track to meet its 500 GW objective by 2030. Furthermore, it will result in the creation of various job opportunities in this sector.
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