India has made significant strides in its renewable energy journey, and fiscal year 2023-24 (FY24) marked a remarkable milestone. According to the Ministry of New and Renewable Energy, a record-breaking 18.48 GW of renewable energy capacity was added, surpassing the previous year's addition by over 21%. This achievement signifies India's commitment to clean energy and a sustainable future.
Solar energy emerged as the frontrunner, contributing a significant 12.78 GW of the total capacity addition. Wind energy followed closely behind, adding 2.27 GW. This dominance of solar reflects India's abundant sunshine hours and the decreasing cost of solar technology.
This surge in renewable energy capacity strengthens India's position as a global leader in clean energy transition. It brings the nation closer to its ambitious target of 500 GW of renewable energy capacity by 2030.
While this is a positive development, industry experts emphasize the need for continued momentum. Adding at least 50 GW of renewable energy capacity annually for the next six years will be crucial to meet the 2030 target.
The growth of renewable energy also presents opportunities for individual home and business owners. Exploring options like rooftop solar installations can not only contribute to a greener future but also lead to significant cost savings on electricity bills.
KGInsolation is your one-stop shop for all your solar needs. We offer comprehensive services, from installation and maintenance to expert advice on navigating the switch to clean energy. Contact us today and let's discuss how solar power can illuminate your future!
