Summary:

In 2024, India surpassed 205 GW of installed renewable energy capacity. The government aims to reach 500 GW by 2030, requiring an annual investment of ₹2.73 lakh crore ($32 billion). Significant progress was made in solar, wind, and rooftop solar through the PM-Surya Ghar Muft Bijli Yojana. Challenges include reducing green hydrogen costs, developing storage infrastructure, and expediting project awards. Green hydrogen legislation, along with pilot projects in the steel and transportation sectors, are key focus areas.

Looking ahead to 2025, industry leaders emphasize strong legislation, public-private partnerships, and financing to scale green hydrogen and renewable energy projects. Emerging technologies such as floating solar and offshore wind offer opportunities, while investments in grid infrastructure are crucial for resource-rich states. Addressing issues like high green hydrogen costs, local manufacturing shortages, and PPA delays is critical. Despite these challenges, India is poised to strengthen its position as a renewable energy giant through innovation and strategic interventions.

Source: IBEF

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