India is at the forefront of renewable energy initiatives, with a focus on clean energy and environmental sustainability. This effort has been detailed in a booklet titled ‘The India Story’, launched by the Minister of State for New & Renewable Energy at an event on Accelerating Citizen Centric Energy Transition. The booklet explains the various initiatives shaping India’s energy transition and their role in the global energy landscape.
Growth of the Renewable Sector
In just six years, India’s renewable energy capacity has grown by over two and a half times to exceed 141 Giga Watts. Renewable power makes up about 37% of India’s total energy capacity, most of which comes from solar energy. With its renewable energy capacity being the fourth largest in the world, India has surpassed coal-based thermal power generation since 2017.
Investment in the Renewable Sector
In the last seven years, over USD 70 billion investment has been made in the renewable energy sector in India. Clear policies that allow 100% Foreign Direct Investment (FDI) through the automatic route have made it easier for foreign investors to participate. In addition, Project Development Cells (PDC) and FDI cells have been established to facilitate domestic and foreign investors.
Renewable Energy Investment Promotion and Facilitation Board Portal
The Renewable Energy Investment Promotion and Facilitation Board Portal provides one-stop assistance to industry and investors. It helps in project development and brings new investment to the renewable energy sector in India.
Industry’s Commitment
Several industry members have voluntarily declared renewable energy goals and committed to the Carbon Disclosure Project (CDP) and Science based targets (SBTs). These initiatives help businesses measure and manage their environmental impacts and greenhouse gas emissions.
Green Tariff Policy
A ‘green tariff’ policy is being developed to help electricity Distribution Companies supply power generated from clean energy projects at a cheaper rate. The government is also promoting the use of Green Hydrogen in Fertilizers and Refining industries.
Initiatives to Increase Investment in Renewables
India is exploring various options like Viability Gap Funding for Offshore Wind Energy and Green Term Ahead Market to attract investments in renewable energies. Rules are being framed to facilitate renewable energy through Open Access and procurement through exchanges.
Initiatives Shaping India’s Energy Transition
Numerous schemes are in place to boost India’s transition towards more sustainable energy sources. These include the Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA) for reliable and affordable electricity, National Solar Mission for augmenting solar power production, and the National Biofuels Policy to reduce fuel imports, increase clean energy and manage waste better.
Energy Efficiency and Clean Cooking Initiatives
Programs such as Unnat Jyoti by Affordable LEDs for All (UJALA) and Pradhan Mantri Ujjwala Yojana (PMUY) aim at providing affordable, energy-efficient lighting and appliances to citizens and delivering LPG gas to households respectively.
Decarbonization and Sustainability in Transport Sector
Efforts are underway to enhance energy efficiency and curb emissions in hard-to-abate industrial sectors through Perform, Achieve and Trade (PAT) initiative. The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME) and initiatives by Indian Railways aim to promote electric mobility and achieve zero carbon emissions by 2030.
Climate Smart Cities and Skilling Initiatives
The Smart City Mission (SCM) is focusing on developing sustainable and resilient urban habitats. Meanwhile, the Skill Council for Green Jobs (SCGJ) is working towards building a skilled and specialized workforce for sustainable development.
Global Initiatives and Collaboration
India plays a prominent role in global efforts to harness renewable energy through initiatives like the International Solar Alliance (ISA), Clean Energy Ministerial (CEM), and Mission Innovation (MI). These initiatives aim at fostering international cooperation for a technology-driven transition to a global clean energy economy.
