India has made impressive strides in renewable energy, surpassing an installed capacity of 205 GW by the end of 2024. This progress has positioned the country as a significant player in clean energy, with annual additions projected to quadruple by 2030. The government is targeting an ambitious renewable energy capacity of 500 GW by 2030, requiring $32 billion annually to achieve this goal. In 2024 alone, a record-breaking 24.72 GW capacity was added, primarily from solar and wind projects, alongside a surge in rooftop solar installations under the PM-Surya Ghar Muft Bijli Yojana.
Despite these achievements, challenges persist, including high costs for green hydrogen production, gaps in storage and transmission infrastructure, and delays in project execution. To address these, the government is actively working on policies promoting green hydrogen, particularly in the steel and transport sectors, and conducting pilot projects to explore its potential.
As 2025 begins, industry leaders emphasize the importance of fostering public-private partnerships, creating robust financing frameworks, and advancing innovative technologies like floating solar and offshore wind energy. Investment in grid infrastructure and efficient transmission networks is also crucial to ensure energy generated in resource-rich areas reaches demand centers efficiently.
Key obstacles, such as high production costs for green hydrogen and a lack of domestic manufacturing for critical components, continue to challenge the sector. Additionally, delays in signing power purchase agreements need to be resolved to maintain momentum.
With strategic policies, emerging technologies, and a commitment to sustainability, India is well on its way to doubling renewable energy investments in 2025 and cementing its position as a global clean energy leader.
