Summary:
India rose to become the world’s third-largest producer of wind and solar electricity in 2024 overtaking Germany according to the sixth edition of Ember’s Global Electricity Review. The report highlighted that wind and solar combined generated 15% of global electricity while India’s contribution stood at 10%. Clean sources including renewables and nuclear accounted for 40.9% of the world’s electricity in 2024 marking the highest share since the 1940s. Within India clean energy made up 22% of the overall power mix with hydropower leading at 8% and wind and solar together contributing 10%. Solar power alone supplied 7% of India’s electricity doubling its share since 2021.
In terms of capacity India added 24 gigawatts of solar power in 2024 more than twice the addition in 2023 making it the third-largest solar market globally after China and the United States. The country also ranked fourth worldwide for growth in solar electricity generation adding 20 terawatt hours. On a global scale renewables generated a record 858 terawatt hours with solar maintaining its status as the largest and fastest-growing electricity source for the 20th year in a row contributing 474 terawatt hours. Although Ember’s analysts recognised India’s strong performance they emphasised the need to accelerate clean power deployment to meet growing demand. India’s climate targets include reaching 50% of installed capacity from non-fossil sources and achieving 500 gigawatts of non-fossil capacity by 2030. However Ember cautioned that without a 20% year on-year increase in funding these goals may remain out of reach.
Source: IBEF
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