Why in News?
The Union Government informed the Rajya Sabha that India’s installed renewable energy (RE) capacity has increased from 76.38 GW in 2014 to 288.58 GW (as of 30 June 2026), marking nearly a fourfold increase.
Key Highlights
- India’s total renewable energy installed capacity reached 288.58 GW by 30 June 2026.
- Solar power contributes the largest share with 162.15 GW.
- Wind power accounts for 57.44 GW.
- Hydro power contributes 57.24 GW.
- Bio power contributes 11.75 GW.
Non-Fossil Fuel Electricity Capacity
- Total installed non-fossil fuel electricity capacity stands at 297.36 GW.
- It comprises: 288.58 GW from renewable energy. 8.78 GW from nuclear power.
Investment in Renewable Energy (FY 2014 to FY 2026)
- The renewable energy sector attracted USD 45.72 billion in Foreign Direct Investment (FDI).
- Domestic financial institutions deployed ₹12.32 lakh crore towards the sector.
- Major financing institutions include IREDA, PFC, REC, IIFCL, NaBFID, SIDBI, along with 12 Public Sector Banks.
Significance
- Solar energy has become India’s largest renewable energy source.
- Strengthens India’s progress towards its Nationally Determined Contributions (NDCs) and Net Zero by 2070 target.
- Improves energy security by reducing dependence on imported fossil fuels.
- Encourages green jobs, private investment, and domestic manufacturing.
- Supports the growth of emerging sectors such as Green Hydrogen and battery storage.
Challenges
- Integrating intermittent renewable energy into the power grid.
- Scaling up energy storage infrastructure.
- Land acquisition and transmission bottlenecks.
- Financial stress of power distribution companies (DISCOMs).
[2022] Consider the following statements:
1. Gujarat has the largest solar park in India.
2. Kerala has a fully solar powered International Airport.
3. Goa has the largest floating solar photovoltaic project in India.
Which of the statements given above is/are correct?
[A] 1 and 2
[B] 2 only
[C] 1 and 3
[D] 3 only