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Key Updates on India’s Energy Consumption and Renewable Energy Growth

The Minister of State for Power, Shri Shripad Naik, provided critical insights during a recent Rajya Sabha session on India’s growing energy consumption and the government’s efforts to promote renewable energy. Per Capita Energy Consumption: India’s per capita energy consumption has increased from 1161 kWh in FY 2020-21 to 1331 kWh in FY 2022-23, indicating steady economic and industrial growth.
Renewable Energy Share: Renewable energy accounted for 13.85% of the total energy generation in India as of October 2024, reflecting the country’s commitment to transitioning to cleaner energy sources.

The government has launched several policies and programs to support renewable energy growth, including:

1. Bidding Trajectory: A procurement plan of 50 GW annually for renewable energy bids from FY 2023-24 to FY 2027-28.
2. FDI in Renewable Energy: Up to 100% Foreign Direct Investment (FDI) is allowed through the automatic route for renewable projects.
3. Inter-State Transmission Waivers:
1. ISTS charges waived for solar and wind projects commissioned by June 30, 2025.
2. Waivers extended to Green Hydrogen Projects until December 2030.
4. Regulatory Frameworks:
1. Renewable Purchase Obligation (RPO) and Renewable Consumption Obligation (RCO) trajectories have been outlined until 2029-30.
2. Introduction of Green Energy Open Access Rules, 2022, ensuring affordable and reliable green energy for consumers.
5. Flagship Schemes:
1. PM-KUSUM: Supporting farmers in adopting solar pumps.
2. PM Surya Ghar Muft Bijli Yojana: Promoting rooftop solar for residential users.
3. National Green Hydrogen Mission: Accelerating hydrogen as a clean energy source.
4. National Programme on High-Efficiency Solar PV Modules: Boosting domestic manufacturing.
5. VGF Scheme for Offshore Wind Projects: Ensures viability gap funding.
6. Infrastructure Development: Establishment of Ultra Mega Renewable Energy Parks, providing land and transmission for large-scale renewable installations.
7. Green Energy Corridor: New transmission lines and substations funded to support renewable power evacuation.
8. Offshore Wind Energy Initiatives
1. A 37 GW offshore wind energy trajectory has been planned by 2030.
2. The Offshore Wind Energy Lease Rules, 2023, regulate leasing offshore areas for wind energy projects.
9. Transmission Infrastructure for Renewable Energy: A comprehensive transmission plan has been prepared for the RE trajectory up to 2030.
10. Green Term Ahead Market (GTAM) to facilitate sale of Renewable Energy Power through Exchanges

These initiatives reinforce India’s dedication to achieving its renewable energy targets, reducing reliance on fossil fuels, and paving the way for a sustainable energy future.