Renewable Energy

By 2050, about 92 percent of India’s energy infrastructure will be based on Renewable energy sources. India is emerging as one of the fastest growing countries in terms of renewable energy investment. India is now the fifth largest installed wind power capacity country in the world.

According to Asian Development Bank India needs $2.3 trillion investment in Energy sector by 2035. The Global investment in Renewable energy has grown rapidly in recent years, driven by concerns about climate change, the increasing cost of fossil fuels. The Global Investment in renwable energy projects is projected to $395bn in 2020 and to $460bn in 2030. The Ministry of New and Renewable Energy (MNRE) is the nodal Ministry of the Government of India at the National level for all matters relating to new and renewable energy such as solar, wind, biomass, small hydro, hydrogen, geothermal, etc. The endeavor of the Ministry is to promote renewable energy technologies and increase the contribution of renewable energy in the total mix in the years to come.

The Ministry has a wide range of programs on research and development, demonstration, and promotion of renewable energy for rural, urban, commercial and industrial applications as well as for grid-interactive power generation.

  • Providing support for research, development and demonstration of technologies;
  • Facilitating institutional finance through various financial institutions;
  • Promoting private investment through fiscal incentives, tax holidays, depreciation allowance and
    remunerative returns for power fed into the grid.