- The Energy Mix - https://www.theenergymix.com -

India Must Accelerate Renewables to Achieve 2030 Goal

India enjoyed a record year for new renewable energy capacity in 2020-21, at 13.5 gigawatts, but is still far off the momentum it needs to hit national targets.

Last year’s favourable showing was mainly attributed to completion of projects delayed from the previous year due to the COVID-19 pandemic, supply chain issues, and other obstacles, PV Magazine reports. And the country is still far below the average annual increment of 40 GW it needs to hit the government’s target of 500 GW of installed capacity by 2030.

To meet the end-of-decade goal, India must address “acute policy and execution barriers,” said Vinay Rustagi, managing director of Bridge To India. That challenge “warrants a holistic reassessment of the sector,” he added.

Last year’s new renewable additions consisted mostly of utility-scale solar, at 10.2 GW, followed by rooftop solar at 2.2 GW and wind at 1.1 GW. Solar module prices surged, then moderated, ending 25% above the previous year.

India’s cumulative installed renewable energy capacity is now 96.2 GW, excluding small hydro and biomass.