India witnessed the world’s third-biggest renewable power capacity addition in 2021 after China and the US.
It added 15.4 gigawatts (GW) last year, according to the latest global status report “Renewables 2022″ published by REN21 yesterday (June 15). China added 136 GW and the US 43 GW.
In 2021, new investments increased 70% over 2020 in India to $11.3 billion.
In terms of solar photovoltaic (PV) capacity addition, India was third globally (13 GW of additions in 2021). Photovoltaic (PV) materials and devices are used to convert sunlight into electrical energy.
It ranked fourth for total installations (60.4 GW), overtaking Germany (59.2 GW) for the first time.
The solar energy sector saw increased investment in India after the country extended its national Rs18,100 crore ($24.3 billion) solar production programme. The scheme provides incentives to domestic and international companies to set up battery manufacturing plants, the REN21 report said.
However, despite these staggering numbers, India is still a long way off from its ambitious target of 2030. It had aimed to install 450 gigawatts (GW) of renewable energy capacity by that year to decarbonise its energy sector while pursuing its commitment to becoming a net-zero country by 2070.