NAVIGATING THE FUTURE: INDIA'S RENEWABLE ENERGY INDUSTRY OUTLOOK
- Credit Rating Agency in India
- Industry Report
- NAVIGATING THE FUTURE: INDIA'S RENEWABLE ENERGY INDUSTRY OUTLOOK
India's power sector has undergone a remarkable transformation, aimed at providing reliable, affordable, and sustainable energy to its people. Over the last nine years, significant strides have been taken in enhancing power generation capacity, expanding access to electricity, promoting renewable energy, and implementing innovative policies. The country's commitment to renewable energy sources has played a pivotal role in achieving milestones in the power sector. The remarkable growth of solar and wind energy capacity has cemented India's position as a global leader in renewable energy adoption. Today, India stands 4th globally in Renewable Energy Installed Capacity, with 43 per cent of its total installed electricity capacity coming from non-fossil energy sources (as of July 2023). India is the fourth largest renewable energy market in the world, with ranks of four in renewable energy installed capacity (including large hydro), wind power capacity, and solar power capacity, according to the REN21 Renewables 2022 Global Status Report.