Key updates on renewable energy as of 2024
Key updates from India's renewable energy sector as of 2024: Growth in Renewable Capacity : India’s renewable energy capacity reached 196.4 GW by mid-2024, now comprising 44% of the total installed power capacity. Solar power leads within this mix, with a share increase from 15.9% to 19.4% in one year. This growth brings India closer to its target of 50% non-fossil fuel capacity by 2030. Investment in Offshore Wind : India initiated its first offshore wind energy project along the Gujarat coast in April 2024, part of a larger plan to expand its wind capacity with advanced offshore installations. This project aims to harness higher wind speeds at sea, optimizing for efficiency and scale. Battery Storage Initiatives : Recognizing the need for energy storage to stabilize renewable supply, India is rolling out Battery Energy Storage Systems (BESS) across various regions. This is expected to support grid stability and enhance the utilization of solar and wind energy. Pumped Hydro Storag...