According to the ‘Renewable Energy Market Update – Outlook for 2021 and 2022’ released by the International Energy Agency (IEA), India will add 17 GigaWatt (GW) renewable capacity in 2021 & 19.3 GW in 2022. However, the total Renewable Energy Capacity will be under 140 GW in 2022.
- It also states that India’s Renewable Energy capacity additions declined by 50% in 2020 compared to 2019.However, the growth is expected to pick up and renewable expansion is expected to set new records by 2022.
- Globally, in 2020 the annual renewable capacity additions increased 45% to almost 280 GW – the highest year-on year increase since 1999.
Sector-wise development
- The Solar PhotoVoltaic (PV) development will continue to break records, with annual additions reaching 162 GW by 2022, which is 50% higher than pre-pandemic level of 2019.
- Global wind capacity additions increase by more than 90% in 2020 to reach 114 GW.
India achieved its goal of installing 175 GW renewable capacity by 2022: MNRE
The Ministry of New & Renewable Energy (MNRE) has stated that including Projects under construction and in bidding stages, India has achieved its goal of installing 175 GW renewable capacity by 2022.
- India has installed 643.66 MW of renewable energy capacity during May, 2021. It took the cumulative installed renewable capacity to 95.66 GW.
- It includes about 41 GW of solar, 39 GW of wind, 10 GW of bio-power and 5 GW of small hydro capacity.
i.Projects of around 50.89 GW capacity are under various stages of implementation.
- Projects of 29.52 GW capacity are under various stages of bidding. The total renewable capacity from the installed to bidding stages comes to 176.07 GW.
ii.India has set a target of increasing renewable energy capacity to 175 GW by 2022.
Recent Related News:
February 10, 2021, In accordance with IEA’s “India Energy Outlook 2021”, India will surpass European Union as the world’s third-biggest energy consumer by 2030. In this regard, India’s energy demand growth share will be maximum at 25% in the next two decades.
About International Energy Agency (IEA)
Executive Director – Dr Fatih Birol
Headquarters – Paris, France
