The Indian renewable energy sector is the fourth most attractive renewable energy market in the world. India was ranked fourth in wind power, fifth in solar power and fourth in renewable power installed capacity, as of 2020.
Installed renewable power generation capacity has gained pace over the past few years, posting a CAGR of 15.92% between FY16-22. India is the market with the fastest growth in renewable electricity, and by 2026, new capacity additions are expected to double.
With the increased support of the Government and improved economics, the sector has become attractive from an investors perspective. As India looks to meet its energy demand on its own, It is expected that by 2040, around 49% of the total electricity will be generated by renewable energy as more efficient batteries will be used to store electricity, which will further cut the solar energy cost by 66% as compared to the current cost. Renewable energy is set to play an important role.
Renewable energy is the future. Here are ways to play this opportunity...
The clean energy industry is growing rapidly as individuals, companies, and governments increase their use of green power generated by solar and other sources. Green energy is the future of the entire energy industry and that is why it is important to take advantage of this opportunity and invest in green energy. The Indian government has taken the initiative to increase the capacity of renewable energy to 500 GW by the end of 2030.
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