India Ranks Third In Renewable Energy Installations In 2021:
India ranked third in renewable energy installations in 2021, after China and Russia, according to a Renewable 2022 Global status report published by REN21 (Renewable Energy Policy Network for the 21st Century).
- India installed 4 gigawatts (GW) of renewable energy projects in 2021
- India ranked fourth in total solar installations (60.4 GW) for the year – overtaking Germany (59.2 GW) for the first time.
- Overall countries added around 3,146 GW of total installed renewable power capacity in 2021 – a rise of 11% from the previous year.
- Despite the rise in installed capacity, the share of renewables in global energy use stagnated in 2021.
- The renewable energy capacities achieved so far come nowhere close to the targets required to keep the world on track to reach net-zero emissions by 2050.
- Despite the impacts of the COVID-19 pandemic, renewables saw a year of record growth in both investment and installation.
- The invasion of Ukraine added to the energy crisis. Governments, however, responded by increasing fossil fuel production and subsidies.
- This has caused a record surge in carbon dioxide emissions (up by 6%, adding more than two billion tonnes).
- India has announced a target of 500 GW of renewable energy by 2030through sources such as solar photovoltaic (PV) energy, wind and hydropower.
- Currently, projects worth almost $197 billion are underway in India.
- India extended its national solar production programme, which provides incentives to domestic and international companies for setting up battery manufacturing plants.
- In 2021, after India increased its cap on solar PV installations under its net metering scheme, the country’s rooftop PV market hit a record high.