Comparing India's Renewable Energy Growth with Global Leaders

The renewable energy revolution has gained momentum in recent years, with several countries embracing green solutions to reduce their carbon footprints. India, with its burgeoning population and ever-increasing energy needs, too has positioned itself as a key player in the RE landscape. From expansive solar farms across Rajasthan’s deserts to wind energy projects along Gujarat’s wide coastline, the country is rapidly transforming its energy narrative.

But how does India’s progress stack up against global renewable energy giants? In this article, we will compare how renewable power in India measures up to global leaders such as China, the United States, and Europe.

How India Stands Against Global Leaders?

When we compare India’s progress with that of global leaders like China, the U.S., and Germany, we see that each of these countries has adopted unique strategies to scale their renewable energy power. China, the world leader in renewable energy, has capitalised on its manufacturing capabilities to dominate the solar panel market. Meanwhile, the U.S. and Germany have excelled in technological innovation to improve their energy efficiency and storage solutions.

The domestic approach to scaling renewable power in India combines elements of these strategies. The government is balancing progressive policy frameworks with large-scale infrastructure projects. While India may not yet match the scale of renewable investments in China or technological advancements in the U.S., increased government support and entry of private renewable energy companies in India are accelerating its infrastructure development. Additionally, 100% of foreign direct investment (FDI) in the RE sector is helping bring advanced technologies to Indian soil.

Solar Power: A Leading Force

While China leads the world’s solar power capacity, India is not far behind. India stands 5th in solar power capacity as per REN21 Renewables 2024 Global Status Report. The installed solar energy capacity in India has increased by 30 times in the last 9 years and stands at 90.76 GW as of Sep 2024. At Jindal Renewable Energy, we’re harnessing solar energy to scale solar cell and PV module manufacturing and strengthen India’s position on the world stage.

Wind Energy: Tapping Coastal Power

Although it’s no surprise that China and the U.S. are home to several of the world’s largest wind farms, India too is making strides in wind energy. Ranking 4th globally in wind power capacity, India has a vast potential for both onshore and offshore wind farms due to its extensive coastline. The country has witnessed a 2x increase in wind capacity from 21 GW to 47.36 GW since 2014. Through our state-of-the-art wind-solar hybrid systems, Jindal India Renewable Energy is also contributing to India’s renewable energy portfolio.

Green Hydrogen: A New Frontier

India is also exploring green hydrogen as part of its renewable energy revolution. Although in nascent stages, green energy can be a game-changer that could help India meet its long-term energy needs and assume leadership in the global RE landscape. India aims to produce 5 Mn tonnes of green hydrogen by 2030. The government has outlined several incentives to attract investments in the green hydrogen sector and partnered with countries such as Japan, Germany, and Australia to share technology and expertise. Renewable energy companies in India too are preparing to leverage green hydrogen as a viable solution for sustainable energy.

Challenges and Opportunities Ahead

While India has made significant progress in renewable energy, it still faces some challenges. Grid infrastructure, land acquisition and financing are some key areas that need improvement to ensure uninterrupted growth of renewable power in India. The good news is that these challenges come with opportunities for innovation, collaboration, and investment that will propel India to become a global leader in renewable energy.

India’s RE landscape also presents a unique opportunity for Jindal Renewable Energy to demonstrate our commitment to sustainability. By aligning with India’s ambitious target to achieve 500 GW of renewable energy capacity by 2030 and investing in renewable energy projects, JIRE is contributing to national energy goals. With a focus on solar, wind, hybrid and energy storage systems, we’re committed to making renewable power more accessible in India.

The Bottomline

India has made remarkable progress in renewable energy, standing shoulder-to-shoulder with global leaders. With strong government support, technological advances and proactive involvement of renewable energy companies in India, the country is on track to become a global powerhouse in renewable energy. Despite challenges, our dedication to renewable power in India as a primary source of energy speaks volumes. As India continues to expand and innovate its RE capacity, its journey will serve as a model for other countries to balance economic growth with environmental stability.