India as a country has always been rich in renewable energy and we have set an incredibly ambitious goal to attain in the coming years. We are aiming to install 175 gigawatt (GW) of renewable energy capacity by 2022.This includes 100 GW of solar power. However, in order to achieve, we need to amp up our efforts in the renewable energy space.
“At present (till the end of April 2021), India’s installed renewable energy capacity is about 95 GW including 40.5 GW of solar power.” (Source: The Wire) We happen to be the third largest greenhouse energy emitter in the world. This should give us an idea as to how crucial it is for us to focus on increasing our renewable energy installation, at a much faster pace. However, one of the key observations still happens to be the lack of demand for renewable energy in our country.
“Prime Minister Narendra Modi has already set eyes on enhancing the installed capacity of renewable energy to 450 GW by 2030.” (Source: The Wire) Climate change and reducing our dependence on fossil fuels needs to be at the forefront of our goal list in the coming years. Increasing levels of pollution in key metro cities, followed by the startling number of lung diseases is only the beginning of worse to come, if we do not fasten our pace.
“According to the International Renewable Energy Agency’s (IRENA) Global Renewables Outlook 2020, the share of modern renewable energy in the final energy supply could go up to 66 percent by 2050.” (Source: The Wire)
While COVID seems to have impacted some of the largest installation projects, most industry experts are hopeful of us achieving our target. “Renewable power is defying the difficulties caused by the pandemic, showing robust growth while others fuels struggle,” said IEA Executive Director Fatih Birol.
The International Energy Agency (IEA) says India will overtake the European Union as the world’s third-largest energy consumer by 2030. The electricity generated by renewable technologies will increase by seven per cent globally in 2020, underpinned by the record new capacity additions, the report estimates. (Source: Indian Express & Economic Times)
At SunEdison we are aiming to make this process as easy as possible for our potential customers. Right from offering easy EMI options to long term benefits, we are striving to make this planet a more sustainable one.
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