Solar, Wind Energy To Drive Two-Thirds Of India’s Power Generation Growth By 2032, Says Ember Analysis

India’s predominantly coal-driven power generation sector could transform towards wind and solar power sources in the next decade if the nation manages to achieve it’s NEP14 objectives.

Notably, India has set a target of 500 GW of non-fossil fuel-based electricity installed capacity by 2030.

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Solar and wind energy are set to dominate two-thirds of India’s power generation growth by 2032 as long as the country manages to achieve it’s renewable energy targets, a new analysis conducted by Ember said recently. Ember is the global energy think tank. 

The agency’s analysis noted that solar power has grown tremendously in India since 2017, when it contributed only 1 per cent to the country’s power mix. The analysis stated that ‘Should India meet its solar targets outlined in the 14th National Electricity Plan (NEP14)’, it’s share is projected to increase from 5 per cent to 25 per cent during the financial period 2022-2032. This period will thus be marked as one of rapid growth. 

The analysis noted that India’s predominantly coal-driven power generation sector could transform towards wind and solar power sources in the next decade if the nation manages to achieve it’s NEP14 objectives, reported PTI.

In the meantime, there is an increase in demand for significantly greater storage capacity to balance peak demand during evenings and early mornings, specifically in times of power shortages, as India looks at adopting solar energy at a larger level. 

The think tank’s India Electricity Policy analyst, Neshwin Rodrigues, noted that the electricity supply scenario in India is set to majorly change in the next ten years or so, and solar and wind power is going to potentially drive the growth in power generation. Due to their variable nature, it is key to majorly increase storage capacity to maintain a balance between generation and demand.

Notably, India has set a target of 500 GW of non-fossil fuel-based electricity installed capacity by 2030. Currently, the nation has achieved 424 GW of power generation capacity, inclusive of about 180 GW from non-fossil energy sources. 

Last week, the Union Power and Renewable Energy Minister, R K Singh, noted that India will meet it’s 500 GW renewable energy capacity target before it’s deadline of 2030. The government plans to tender 50 GW of solar and wind power capacity over the next five financial years on an annual basis. 

However, the analysis noted that to meet it's NEP14 targets, India needs to boost it’s annual solar capacity addition by about 36 per cent every year until 2026-27. This means the commissioning of at least 17.5 GW of solar capacity in the current fiscal year, along with an additional boost of 41 GW by the end of the target year 2027.