India to Generate 18% of its Energy Requirements from Solar: IEA
As per the International Energy Agency (IEA), solar energy will generate 18% of India's electricity by 2030, up from 6%.
The International Energy Agency's new World Energy Outlook 2023, released on Oct 24, predicted that renewables would provide half of the world's electricity by 2030, owing to the meteoric rise of clean energy technologies such as solar, wind, electric cars, and heat pumps. The report paints a positive picture of global energy consumption, predicting that there will be nearly ten times as many electric cars on the road.
However, it warned that emissions were still too high to prevent temperatures rising above a key threshold of 1.5 degrees Celsius. In India, the report mentioned, "Eighteen per cent of the electricity generated in India will be from solar sources by 2030, up from six per cent today."
India has set a target of 500 GW of installed capacity from non-fossil fuels by 2030, including approximately 270 GW of solar capacity. The center announced in August that solar power generation capacity had surpassed 70,000 Megawatts. The report highlighted policies implemented by several countries to encourage supply chain diversification for clean energy technologies.
"This includes policies to promote clean energy technology manufacturing, for instance, the Inflation Reduction Act in the United States, the Net Zero Industry Act in the European Union and the Production Linked Incentives scheme in India," the authors of the report said.
According to the report, India is the world's largest source of energy demand growth in the Stated Policies Scenario (STEPS), followed by Southeast Asia.